What Do CPA Firms Need to Know About Outsourcing?
To focus more on growth and success, many business owners are turning to outsourcing to share the workload. Outsourcing means hiring a third party to provide services or perform a certain task for a business.
Even in the accounting and bookkeeping field, many CPA firms are outsourcing bookkeeping services to an external service provider to focus on core business functions.
As tax season is heading up, accounting firms are gearing up for upcoming deadlines, paperwork, excessive workloads, and long nights. A firm should look to outsourcing as a sure-shot solution to ease its workload.
Why is outsourcing becoming the popular choice?
Absence of skilled labor:
Getting skilled labor is a major concern for C-suite executives in this changing accounting industry. Outsourcing helps to address the shortage of skilled people in the accounting profession. It helps CPA firms get the work done effectively and efficiently within the limited talent workforce. They outsource the routine bookkeeping services to the external party and can focus more on other important tasks.
Continuous Growth:
Outsourcing bookkeeping services for CPA firms can act as a growth engine. It helps to save time and money without being restricted by a lack of an available skilled workforce. It facilitates an extended team for assisting in their busy season schedules.
Retention:
Employee weariness is a common concern in CPA firms, especially when there is a shortage of staff. Outsourcing reduces overwork stress and retains existing employees.
Reduced costs:
Outsourcing accounting services helps in reducing operational costs such as payroll, bookkeeping, or engagement letters, allowing existing employees to engage in more profitable and rewarding projects.
Outsourcing is the sure-shot solution for CPA firms to address the requirements of an additional workforce.
What types of outsourcing facilities can a firm leverage?
When it comes to outsourcing, a CPA firm can opt for different outsourcing scenarios as per its needs.
Offshoring:
It is the most common type, where work is outsourced to a foreign country. A CPA firm can leverage an offshore company like ours to bring additional talent to the team, collaborate, and get the work done domestically. CPA firms can choose to outsource bookkeeping services to achieve expert service at affordable rates.
Onshoring:
It implies outsourcing work within national borders. Many CPA firms find it comforting to keep the work within their country. But they might cost more than offshoring outsourcing. CPA firms have to either look for a low-cost location or one where they can access talent resources.
Consulting, part-time, and gig work:
Outsourcing provides flexibility and scalability to the CPA firm catering to its unique needs. It can be for short-term or long-term contract work and may vary according to the scope of the work.
Meru Accounting offers bookkeeping services for CPAs.
We are one of the leading offshore outsourcing bookkeeping service providers. Our team comprises dedicated and professionally qualified CPAs, CAs, and accountants with years of experience in handling bookkeeping and accounting tasks for clients across the globe. We help our clients with the latest cloud technology and accounting expertise on the same table.
Call us now to find out more about our services.
