Outsourcing Accounting Services: How to Plan

By Fern Carlos, Sourcefit: Custom Offshore Staffing Solutions

Thinking of outsourcing your accounting services?

Plan, plan, plan.

You need careful planning in order to make proper execution and excellent results possible.

Here are some tips on planning your offshoring strategy:

* Get a clear idea of the cost savings. Find out exactly how much you will end up saving if you offshore and what aspects of the process will you be getting those savings from.

* Get a clear idea of the cost savings. Find out exactly how much you will end up saving if you offshore and what aspects of the process will you be getting those savings from.

Compute the total cost if you were to build and maintain an onshore team of accountants. Compare with the total cost of hiring offshore accountants.

* Get a clear idea of the cost savings. Find out exactly how much you will end up saving if you offshore and what aspects of the process will you be getting those savings from.

Compute the total cost if you were to build and maintain an onshore team of accountants. Compare with the total cost of hiring offshore accountants.

Include all applicable costs for staff compensation or salary, supplies, equipment, maintenance, construction, rent, training, office space, infrastructure, hardware, software, as well as the non-monetary benefits such as staff expertise, experience, and access to latest information, technology and best practices.

* Assess how the outsourced accounting tasks will affect your onshore tasks and adjust accordingly.

* Plan how you will go about hiring a service provider to make sure that you get to work with a firm that’s the right fit for your company.

* If you expect to require more accounting services down the line, you should consider hiring an accounting firm with a wide range of services, including the more complex accountings services and related tasks.

* Build a Quality Assurance (QA) system. Your service provider should be able to help you fine-tune this QA system to come up with a way to monitor and maintain excellent performance.

* Prepare to set goals and metrics. Establish what your objectives for outsourcing this task and the measurable elements of these objectives.

* Prepare to assess the accounting firm’s data management. Does the system have adequate security measures? Can the outsourcing firm keep your data secure and confidential?

Get excellent outsourcing results with careful planning, proper implementation, and a service provider that’s the right

fit for your company’s requirements.

To learn more about outsourcing and about offshore accounting services in the Philippines, visit us at

http://www.sourcefit.com/accounting-outsourcing.

To learn more about outsourcing and about offshore accounting services in the Philippines, visit us at

http://www.sourcefit.com/accounting-outsourcing.

Text by:Fern Carlos, Sourcefit: Custom Offshore Staffing Solutions

Valerie