It’s pretty common knowledge that many small & medium businesses use external bookkeepers and accountants – But you might also know that some accounting firms outsource some of their work offshore as well. A recent survey in the US of a group of professional accounting members showed that approx. 25% offshored some of their work. (Journal of Accountancy)
Virtual assistants are becoming more and more common recently with over 50% of business owners in the US stating that since the pandemic they are more receptive to using virtual assistants in their business (Ipsos)
The pandemic has shown people can and want to work from home; dozens of articles similarly state the benefits of working from home include (1) Better work/life balance, (2) Employees more productive/less distractions, (3) Working caregivers able to balance home & work duties effectively.
So how can having a remote solution help your business?
Cost savings: Outsourcing can reduce overhead costs, such as salaries, benefits, office space, and software. Employing a remote assistant on a contract basis allows you to manage your workload and workforce accordingly.
Access to expertise: Outsourcing provides access to a team of experienced professionals who can ensure accurate and efficient financial management.
Scalability: Outsourcing allows businesses to grow without worrying about whether their accounting team can handle the growth.
Business efficiency: Delegating accounting processes to a service provider can free up internal staff to focus on more strategic tasks.
Would you ever consider increasing your workforce offshore?