The benefits of outsourcing accounting and bookkeeping are already widely discussed. Various studies will back this up. 37 percent of small businesses surveyed used at least one outsourced service, most commonly accounting. What’s keeping others from embracing this global trend?
As a seasoned force in the outsourcing industry, MCVO Talent has heard a fair share of reasons these businesses are hesitant to outsource these money management functions to third parties. This article will sift through them and identify solutions to these understandable apprehensions.
Reason 1: Outsourcing is costly. Let’s develop our own talent.
Accounting and bookkeeping require skills only possessed by trained specialists, who will charge the rates of real experts. Regular compensation will set you back, as well as their further development, since they need to keep their skills attuned with the times.
But many small businesses don’t need accountants and bookkeepers at their beck and call all the time. There are certain times of the year when they are needed the most. You can save on regular salaries and talent development if you outsource them during peak season.
Reason 2: Communication differences make outsourcing accounting and bookkeeping inconvenient.
Some business owners are hesitant to outsource accountants and bookkeepers because they don’t want to deal with the language barrier and timezone differences. This is a problem you won’t have if you tap a reputable outsourcing firm that hires college graduates fluent in speaking and writing in English. Moreover, they are rotated in shifts to ensure that clients are attended to round-the-clock.
Reason 3: What if the outsourced accountant or bookkeeper scams me?
Nothing is more heartbreaking for an entrepreneur than having your trade secrets revealed or your resources stolen by someone you trust. You probably think there’s no way to guarantee the integrity of an outsourced staff since they work independently.
Scam stories are more common among individual freelancers than professionals from outsourced firms. Since firms also have professional recruiters screen their staff, you will be assured that the accountants and bookkeepers presented to you have already passed a rigorous application process.
Reason 4: Cybersecurity threats are rising. We can’t afford the risks of remote transactions.
There’s no denying the looming threat of cybercrimes on businesses. It is the same threat that outsourcing firms face, so reputable ones have already invested in multi-layered cybersecurity infrastructure to detect present and evolving threats. These firms may even contribute an idea or two about how you can protect your sensitive data.
MCVO understands every reason – and has every solution for you
A business process outsourcing company in the Philippines, like MCVO Talent Outsourcing Services, has already developed a good understanding of client concerns regarding outsourcing accounting and bookkeeping. Give us a call, and we’ll spell out both benefits and solutions for your accounting and bookkeeping needs.