For the majority of CPAs, managing their own accounting while doing the same for their clients, can be a significant bugbear.
Even for larger CPA firms, keeping customers satisfied and meeting their expectations, while maintaining their own in-house records properly, can be a challenge. It can become an even bigger challenge during busy times of the year when demand for their services is much higher, such as during tax season, and either their own accounting records will fall by the wayside, or their clients will. Either way, it’s a recipe for disaster.
For CPA firms struggling to cope in such a way, there may be no opportunities for growth that they can realistically strive for or create, unless they seek professional help, and outsource bookkeeping services to India.
Here’s how outsourcing bookkeeping and tax preparation to a country like India, just be just the catalyst for growth your CPA firm has been searching for, but failed to find:
It can help you reduce your overheads
Bringing in additional clients might be every CPA firms dream, but unless you have the employees, infrastructure, and software in place to cope with it, it can be tough to manage the extra workload.
Outsourcing – particularly to a country like India where labor costs are much lower than in the US and levels of expertise are extremely high – offers a convenient and cost-effective way to cope with extra demand and build up a client base, without the huge overheads typically required.
You get access to a skilled and motivated workforce who are ready to help out at a moment’s notice, at a fraction of what it would have cost in the U.S. You pay the outsourcing provider for the work they carry out, nothing more and nothing less, without the worry of salaries, benefits and office overheads.
It can help you enhance data security
While you might have concerns related to data security when using a third party vendor, outsourced service providers typically have a wealth of reliable security measures in place to keep all sensitive data protected. Reputable ones will be compliant with all necessary security standards, and be more than happy to share their certifications with you.
Should you have any concerns about data security measures when you approach an outsourced service provider, simply ask them to provide evidence of all measures and protocols they’ve put in place to keep data secure, and your fears will likely be allayed.
It can give you access to new technologies
Funding the latest technologies for your CPA firm may not always be possible, even though they would likely save you time and money in the long term. But with outsourcing tax preparation to India, you can gain all the benefits of new technology (such as AI and automation), without having had to invest in it yourself.
India is a highly tech-advanced country, and outsourcing there is the perfect way to provide your clients with an outstanding level of service, that hasn’t cost you a small fortune.
There are so many advantages of outsourcing to India for CPA firms, that real and sustainable growth becomes less of a pipe dream, and more of a dead cert.
