Dedicated Accountants of VE Can Give Fresh Impetus to Your Business
It has been noticed that companies are becoming more efficient, profitable, and competitive by choosing to ship accounting services overseas. In fact, clients go in for outsourcing accounting services as they don’t consider accounting to be their core competency. They would rather take the help of Indian vendors that have a large talent pool of resources with expertise in different accounting processes. These vendors dedicate their resources to tackling day-to-day accounts-related tasks of a company.
It’s quite reassuring to know that clients that are going to offshore accounting services to India are not supposed to re-train the professionals on the staff of the outsourcing vendor. This is because the remote dedicated employees are already highly experienced and they utilize the same accounting processes that the client’s in-house team currently uses. This way the vendor’s office becomes a seamless extension of the client’s company in matters related to accounting jobs.
Why shipping accounting services to India has become a norm?
- Outsourcing accounting services reduces operating costs and frees up capital
- It enables a company to focus on business strategy and goals
- It allows businesses to utilize the resources and expertise of the outsourcing company at affordable rates
- Clients get to hire a dedicated virtual team at a fraction of the cost than what it would normally cost to hire its in-house equivalent
Outsourcing accounting services need to be regarded not just as a cost-saving exercise but as a planned measure to support growth, thereby empowering innovative entrepreneurs to concentrate more on other critical accounting functions of their company
Indian outsourcing vendors provide the following accounting services:
- Cash Flow/Budgeting
- Financial Analysis and Reports
- Payroll and T&E processing
- Treasury processing and reporting
- Books Cleanup
- Inter-company accounting
- Management Reporting
- Account reconciliations
- Fixed Assets management
Outsourcing accounting services saves a considerable portion of the client’s money spent on:
- Training costs
- Employee’s compensation insurance
- Medical insurance, retirement plans, and other incentives
- Personal and sick leaves, vacation leave
- Additional office space, equipment and furniture
- Social Security and Medicare taxes
- Accounting software
Smaller companies and individual clients often find it profitable to outsource accounting services as they find the virtual office concept of dedicated staff very useful.