Overview
Because of new technology advances, you now have the same alternative as fortune 500 firms, no matter how small or large you are. Outsourcing grants businesses the freedom to dump non–core yet important sectors of its administration on companies specializing in those very individual aspects. Outsourcing online is an option that offers services at a much much lower rate but with a highly productive mass workforce.CPA firms and businesses are discovering that outsourcing accounting online saves payroll, overhead costs and it is a giant step in freeing up valuable time.
As a business owner, your time is best spent doing what you do well-working with customers and growing business. Time spent on bookkeeping problems adds little or no value to your customer relationship.
The most successful businesses of today have gone to online outsourcing and now have time and money to spend on differentiating themselves in the marketplace. If you are looking for ways to reduce overhead and focus on your core business, now is the perfect time to make the switch to outsourced accounting.
Lower costs & higher benefits
Money is at the core of all reasons for outsourcing. India has proven to be the most cost-effective. Labor costs in countries such as the US, UK, Australia, Canada, and Dubai are enormous as compared to India. Lower costs directly have an impact and increase the ROI.
Instead of hiring an in-house workforce, agencies prefer to outsource their business to Indian agencies which provide them dedicated workforce which would work exactly as in-house resources. It offers not only flexibility but also reduction in capital expenditure, infrastructure, and maintenance costs by a considerable margin.
Communication
Seamless communication is another reason that these countries prefer India more than any other country. Effective communication is the most vital factor for better execution of plans and strategies. Indians are known to speak good English.
Access to skilled workforce
Outsourcing business to India facilitates access to skilled resources with plenty of experience. With the highest number of skilled resources in sectors such as IT, BPO and finance to name a few.
India also boasts upon the maximum experience in handling critical projects with utmost ease. Availability of skilled workforce at reasonable pricing is icing on the cake for the agencies based in US, UK, Australia, Canada and Dubai among others.
Advanced infrastructure & latest technology
Indian agencies heavily focus on the deployment of the latest of technologies and infrastructure. Besides, training the workforce on the latest technologies is at the core of their strategy.
They conduct training programs on a regular basis to ensure their employees are at the top of their game all the time. This helps Indian firms cater to the demanding needs of overseas clients and execute critical projects in a seamless manner.
E-commerce solutions
E-commerce is one of the areas in which India has gained measurable dominance in the past few years. Amazon, the pioneer of E-commerce choosing to set up a software development center in Indian cities such as Pune, Bangalore, Hyderabad & Chennai vouch for that.
E-commerce companies have over the years focused on making themselves more competitive than ever by outsourcing their customer service. That is the reason they have turned to technology for maximum output. Integration of customer support and logistics validates that.
India’s outsourcing friendly policies
Outsourcing business is one of the main sources of foreign income for India’s economy. Hence, India’s outsourcing policies are flexible encouraging overseas agencies outsource their business to India in a hassle-free manner.
From $US 50 billion in 2010 to $ US 118 billion in 2016, India’s growth in outsourcing is immense. The statistics clearly suggest that while India’s policies are considered favorable for outsourcing, availability of skilled resources at lower costs, on the other hand, makes India the best choice for outsourcing.
Productivity & better customer support
Outsourcing increases productivity and customer support. Both of these factors are indispensable to efficiency and 100% customer satisfaction which also results in recurring business.
Round the clock customer support, in-spite of time zone differences and great command over English also helped India climb up the ladder in a short span of time outdoing all other countries.
Regardless of the numerous advantages and benefits of outsourcing, drawbacks of outsourcing additionally abound. Just like outsourcing might end up being good for businesses, the management of a company should weigh the benefits as well as the drawbacks of outsourcing before actually choosing the process