Outsource Accounting to India- An inexpensive way to grow!
Global economy is slowly and steadily recovering from one of the worst recessions experienced in the last 50 years. Organizations are looking at ways to reduce the costs and be competitive in the market in the coming years. To recover from the situation companies are increasingly looking at accounting outsourcing services to reduce costs. Accounting outsourcing has been a dominate tool over the years to cut back office cost. Most organizations today are either outsourcing their entire accounting activities or part of their accounting activities to vendors in India. Accounting outsourcing if implemented well can be an inexpensive way to grow for organizations.
In recent years, India has strongly attracted attention of many global companies and big business enterprises throughout the world. The country has consistently been ranked as one of the most popular choices in providing outsourcing services. Several developed countries including United States, Canada, United Kingdom and Australia are running their business with larger profit through the outsourcing assistance offered by India. According to a recent study, India is preferred by many overseas businesses as the favorite choice to outsource.
Why choose India as an Accounting Outsourcing destination-
- Substantial costs savings: Savings upto 50%. By outsourcing accounting services organizations can reduce their accounting cost by half
- Largest well-educated English-speaking workforce after US. India's large base of accountants is a useful asset in accounting outsourcing process
- Access to economical but skilled labor force- per accountant cost is around 1/8th of that in USA & Canada, 1/6th of that in Europe
- India is considered as the most renowned outsourcing accounting destination in the world
- Advantageous time zone difference between US and India ensures high productivity and faster turnaround times particularly in accounting outsourcing processes
- Considerable technological and infrastructure upgrades in recent times. India enjoys an edge in Information technology over many other countries that have also ventured into the field of outsourcing accounting
- India is one of the largest providers of accounting and bookkeeping outsourcing services
Several global companies are therefore making a beeline for hiring outsourcing accounting vendors in India for the financial benefits and convenience that it offers to each of its clients. Also since the services offered are customized to suit the needs of each client and most reputed vendors offer round the clock facilities it ensures that the client does not have to go through any hassle to receive the accounting data. Outsourcing accounting services from India has therefore become the much desired course of action for companies worldwide.
Accounting is one of the most important aspects of any business and cannot be just taken as a routine activity because most of the financial decisions and future planning of the organization depends on the accounting department. Accounting outsourcing services works out very effectively and there are several advantages connected with this.