With life become ever faster and increasingly more demanding, many accounting professionals, such as CPA’s, are opting to outsource their accounting to India. Perhaps one of the fastest growing fields in India, IT has seen many more young and ingenious individuals choosing to learn new skills and develop innovations that are changing the way we work, and many of these bright young minds are applying their talents to the field of accounting. But it’s not just these software and technology skills that are making so many CPA’s outsource to India; here are a few more reasons why India is becoming the destination for outsourced accounting:
- Data security
Security is the highest priority for both CPA’s and their outsourced accounting partners, and strict confidentiality agreements are signed before any work begins, and supervisors in the Indian office branches ensure that all workers are monitored closely and comply to the code of security ethics.
- Expanded benefits with reduced costs
With labor costs in India far lower than here in the states, it’s possible to engage with a team of talented, professional and highly qualified individuals at a fraction of the cost.
- The time zone advantage
With a 12-hour time difference between the U.S. and India, many accounting tasks can be completed ahead of schedule, providing opportunities for CPA’s to not only keep their current client base satisfied, but expand upon it, too.
- The same up-to-date knowledge about rules and regulations
The local branch of the outsourcing firm will be in constant communication with the Indian branch to ensure that they are always up-to-date on their knowledge of state and federal tax laws, meaning that CPA’s are never at risk of breaking the law, and never subject to hefty fines as a result.
- Vacations can become a reality!
Can you imagine having another professional take care of your financial year end work so that you can take some time off? Too good to be true? Outsource your accounting needs to India and this could not only become a reality, but the new norm!
The benefits of outsourced accounting have always been known, but some firms may not have been able to afford it, despite the increase in profits that it would eventually bring. Now that much of the workload has shifted to India, however, CPA’s can get the same result at a reduced cost, and with the same care and due diligence given to the work, can you afford not to outsource your accounting needs to India?