How Offshore Accounting Services Can Help Your Business Grow Faster
| October 1, 2020
As we know, accounting is an integral part of any successful business. However, it requires a lot of attention, man-hours and strategy to ensure a competitive advantage. So, how can you minimise costs and maximise output for your accounting services? Offshoring may be your answer.
Here’s how offshoring your accounting services could benefit you.
Take advantage of the latest industry knowledge
Like any specialist, your accounting professional must remain aware of the latest industry news, knowledge and services. By outsourcing your accounting services to a team in the Philippines you can rest assured knowing that the latest services and strategies are being recommended or executed with your business.
Although you may have an internal team member who generally takes care of these initiatives, it can be extremely challenging for them to stay ahead of all strategies and services in the everchanging accounting environment.
Transparency and oversight of performance
At MVP Asia Pacific, we understand that transparency and oversight are integral to business success. This is why when you engage MVP, we become part of your team. When you decide to outsource your accounting services, your MVP will engage with you as if they were apart of your onshore team. We believe this is such an important element towards a successful offshoring strategy.
Having a team working remotely can be daunting to any business owner. Which is why having initiatives in place is important in growing and sustaining a trusting relationship. When offshoring your accounting services with MVP you will receive regular reporting, initiatives toward new strategies and daily updates from our team.
Mitigate risks and share responsibilities
When placing a high-importance task, like accounting, on a single onshore employee, there are a number of immediate risks a company can face. For example, if this one employee was to fall sick, leave without notice or underperform, the process of handover or replacement can take a long period of time. During this downtime, your finances may suffer.
Offshoring this high-importance task to a number of highly qualified individuals allows for team members to take over in the case of sickness or leave. Generally, most BPOs have a large number of highly qualified experts within the accounting space. With this in mind, you can be assured that the ball won’t be dropped if multiple experts are involved.
Reduce costs and maximise outputs
Offshoring with MVP can help you to reduce overhead costs by up to 75%. Alongside all the other benefits that come with outsourcing your accounting services, MVP focuses specifically on reducing your costs while maximising your outputs. Our team of experts show initiative by constantly looking for ways to offer value to you and your organisation.
As discussed in our blog ‘How Offshoring Could Benefit Your Business’, offshoring allows you to offer round-the-clock services. This means when you finish your day, your accounting team is still hard at work to ensure that you have the latest figures at 8 am the following morning. When offshoring to the Philippines, the time difference to Australia is 2 hours. This is ideal for a number of businesses as you are still able to brief in your team in the morning before they continue work for the rest of the day.
There are a number of benefits that can come with offshoring your accounting services. Are you ready to take the leap towards rapidly growing your business? Contact our team today to find out more.