A common concern when contemplating outsourced accounting is the potential reaction of your existing in-house team. Employees may perceive this decision as a threat, fearing it signals an intent to reduce costs at the risk of job security.
It is important to clarify that while utilising an overseas team can lead to cost savings, the primary objective is not merely cost reduction; rather, it serves to facilitate organisational growth and expansion.
Inspire your in-house team about the future of expansion by communicating the following five key benefits of outsourced accounting
1. You’ll be equipped to effectively communicate the concept of enhanced security to prospective clients
Partnering with BOSS provides you access to highly secure servers and portals that would likely be financially unfeasible for a small or medium-sized firm to develop independently.
This enables you and your team to provide a comparable standard of premium cloud-based security utilised by major international firms, without incurring their associated costs.
2. There is no down time
Files will not remain stagnant during periods of employee illness or vacation, as would be the case with an in-house staff member.
Similarly, your organisation will not experience a gap in specialised services if an internal specialist is terminated or recruited by a competitor.
Engaging outsourced accounting services provides you access to a diverse and extensive talent pool. In the event that an overseas team member is unavailable, their responsibilities can seamlessly be managed by another qualified professional until your regular team member returns.
3. You have the opportunity to broaden the range of services your firm provides
Your in-house team will now have the opportunity to enhance their proposals to prospective clients and provide additional advantages to existing clients by consolidating all services within your firm.
If you do not currently employ a professional who is well-versed in pertinent regulations, such as those governing Self-Managed Superannuation Funds (SMSF), you can coordinate with your outsourced accounting team to integrate a qualified individual. All members of BOSS’s overseas team are certified and possess expertise in various aspects of taxation practices relevant to Australia
4. You will not need to invest time in searching for or training new talent
Recruiting new specialists can be a significant financial investment, with estimated costs of approximately $4,000 per hire. Additionally, the time spent on both the recruitment process and training new employees in your organisation’s procedures can be substantial.
In contrast, outsourced accounting eliminates the need for headhunting. BOSS has conducted thorough vetting to ensure that you receive a qualified team located overseas. This team will deliver work that meets or exceeds the quality standards associated with your organisation.
5. Your team will have the opportunity to concentrate on their preferred tasks
Your existing team will have the capacity to delegate essential compliance tasks through outsourced accounting services. This strategic shift will enable them to focus on addressing the primary challenges faced by their clients and increase direct engagement with those clients.
Clients are likely to appreciate this enhanced level of attention. Meanwhile, your in-house team will be engaged in more meaningful work that aligns with their professional aspirations. Collectively, these efforts will contribute towards achieving your firm’s vision of growth.
