Why Outsourcing Financial Accounting and Bookkeeping to India?
Process time for introducing services and products has shortened with the increasing competitive nature of global businesses. Organizations in the developing economies are coming to the conclusion that if they can’t be a world-class provider of a service, then the best option is to partner with someone who can provide that level of service. In this scenario global organizations are forced to adopt systems and business models that provide operational efficiency and add strategic value to their products and services.
Developed economies are facing huge shortage of highly trained and specialized professionals in various knowledge-intensive sectors. In the new knowledge economy, India with its hoard of chartered accountants, doctors, engineers, lawyers and research analysts is the most preferred destination for outsourcing.
Advantages of Outsourcing to India :
Besides the huge talent pool, other advantages of outsourcing to India are the favorable government regulations, considerable savings in expenditure and strong research infrastructure.
- Avoid Capital Expenditure
- Reduce overhead
- Reduce operating costs
- Huge English speaking talent pool
- Free up resources
- Improve Efficiency
- Offload non-core functions
- Avail access to specialized skills
- Save on manpower and training costs
- Effectively handle temporary business peaks
Right Step from the Government :
Indian government has taken the right steps to ensure an increasing talent pool of highly qualified professionals by introducing premium educational institutions like Indian Institute of Technology (IIT) and Indian Institute of Management (IIM) in every state. Computer science is introduced as a subject even in the primary school classes and every course in engineering, science and commerce have included computer science programs. These steps will help professionals to get synchronized with the outsourcing industry requirements at a rapid pace. To take advantage of the outsourcing sector, the government has initiated a wide range of revolutionary steps such as improving infrastructure, setting up new technology parks, info parks, hi-tech cities, and electronic cities, special economic zones, opening up telecom sector for enhanced connectivity and providing uninterrupted power supply. The government has also relaxed its regulations in granting licenses to internet service providers to establish their own international gateways and submarine cable landing stations.
With all these favorable factors arises the question, Why not outsource your bookkeeping and accounting tasks to India and focus on your other core business activities. Avail bookkeeping and financial accounting services; make sure that your financials are validated periodically in compliance with regulatory requirements.
Contact us to know more about our valuable services and it's benefits .