OFFSHORE STAFFING: Fundamentally A Better Concept Than Outsourcing For Accounting Firms
As a concept itself, offshoring is much more significant than outsourcing. Moreover, outsourcing is about assigning a specific task on a contract basis for another company. On the other hand, offshoring is a bigger idea where relocation of the entire business happens for greater productivity. Outsourcing is simply about completing a specific task; offshoring is about complete business growth.
In short, outsourcing is acceptable for those one-time affairs that are not the core job of the specific company. In accounting firms, it is OK to outsource web development tasks or manage social media accounts. However, they should not outsource their clients’ taxation or accounting affairs as there remains every possibility of compromising quality. However, offshoring is reliable compared to the company to ensure that its protocols and strategies are followed.
Offshore staffing advantages that outsourcing can never provide
The idea of offshore staffing is growing with popularity among accounting firms for several reasons. Specifically, the following reasons make it a better decision over outsourcing.
1) Quality and Time Assurance
Accounting positions demand a supreme level of expertise. Hence, accounting firms do not prefer outsourcing because they cannot check their expertise in handling their work. At maximum, you can only connect through a relationship manager. On the other hand, the offshore staff is your own. In short, you can interview the staff and hire. Undoubtedly, this approach is more accomplished.
Offshore staff delivers timesheets regularly. This assures the company about the completion of tasks as per the deadline. Additionally, they review the reports regularly. However, in outsourcing, an accounting firm has to request for reviewing every single time. Overall, the process of handling immense errors gets time-consuming.
You have no idea about who is handling your task. Also, there is no clarity about the kind of approach they follow for dealing with the task. However, offshore staff follows the same protocols that you set. Most importantly, they don’t deal with any other’s work. Naturally, they put all their focus on your work, which assures them of the best quality output.
3) Even distribution of work and everything under your control
In general, the outsourcing vendors put loads of work upon their staff in the pursuit of boosting productivity. These staffs fails to put the requisite focus on the given task. Now, considering the challenging nature of the accounting works, errors are pretty obvious. The outsourcing vendors don’t understand your protocols, nor do they care about functioning as per the same. However, no chance of such issues with offshoring as the staff agrees to function according to your norms.
There are many advantages an accounting firm can gain through offshore staff. The best part, it can save around 75 percent expense for the company. Naturally, this encourages the accounting firm to invest more and expand its business in different parts of the world. Ultimately, this facilitates significant business growth and productivity. On the other hand, there is no such privilege with outsourcing as it is about a specific task. Most importantly, they do not compromise with their charge, which does not provide much financial advantage for the accounting firm.
5) Flexibility in building capacity
Flexibility is another significant advantage that accounting firms can gain through offshoring ideas. After all, here, an accounting firm can set its hiring model. The flexibility of scaling up or scaling down the staff requirement remains in their hands. Above all, there remains no compulsion regarding long-term commitments or contracts. In comparison, such privileges are not there with outsourcing.
All in all, offshore staff can provide immense benefits for an accounting firm that they can never expect from outsourcing.