Every accounting outsourcing company has payment schemes. Most of them charge in an hourly manner, some of them monthly. Therefore you can choose the payment terms that suits your needs and budget the most.But do not make your decision only based on cost effectiveness.A good fixed price model will be suited for the requirements and plans for the outsourcing work.
India’s technical support is one of the main highlights. It has now become home to IT geniuses; the use of accounting software consulting services, security solutions, outsourcing accounting services can give quality output.
Accounting outsourcing services from India are beneficial for US accounting firms due to cost-saving benefits. In addition, India’s facilities, infrastructure, qualified staff, and employee benefits can make the accounting process much more speedy and secure than in other countries.
Accounting outsourcing services have many benefits. For example:
1. Buy time for the company – Once you outsource your accounting services to a company, you get plenty of time to focus on the core activities. For example, planning, sales, policies, employee turnover, customer retention, etc.
2. Exclusive automation software availability (Quickbooks, Xero, Sage, and Zoho Books) – An accounting outsourcing company provides top-notch bookkeeping and accounting software to increase accuracy and efficiency.
3. Affordable expertise advice – You can hire an expert as per your convenience. For example, if you need a tax expert for, let’s say, 6 months, you can outsource the same only for that period.
4. The utilization of resources – The experts allocate the resources. When you outsource the accounting services to experts, they put it in the right place.
5. Greater competitive advantage – It helps you to leverage knowledge, skills, and your complete supply chain.
6. Staffing flexibility – It allows departments to bring additional resources when necessary and release them if workflow slows down.
How much do you have to pay while outsourcing accounting services to India?
Accounting outsourcing companies provide you with various benefits while taking your burden on their shoulders. However, you will have to pay nearly $500-$5000 each month for small businesses to the company you choose to outsource your accounting services to. The fees depend on the amount of work they take up. Therefore, it can vary from company to company. Some of them are listed below;
Region Outsourced Pricing (per hour)
Latin America $8-18
Here, you can check how Outsourcing your accounting to India can save you 40% to 60%.
Factors accounting outsourcing companies consider while deciding the pay:
- Availability of expertise
India can provide you with subject-matter expertise available at affordable prices in comparison to the US market. Indians have a strong base in international accounting rules. As a result, one gets the chance to leverage the advantage of affordable talent. The amount of money you pay to an accounting outsourcing company may vary depending on the availability of expertise.
While outsourcing your accounting services to India, you will always have the upper hand. Indian currency holds a lower value in comparison to the US dollar. It cuts down your expenses to approximately 50% and increases proficiency and accuracy in operations, analytics, sales, etc.
- Commitment of loyalty
The Indian labor force is much more committed to work than any other country. The task outsourced to them pays off in the end. Therefore, the commitment to loyalty helps you get the best accounting services possible.
- Communication barrier
A majority of people speak English in India as Indians accept English as their second language. It allows global clients to outsource their work while maintaining communication transparency.
India’s time zone aligns with many countries making it easier to communicate. Therefore, an accounting outsourcing company will maintain communication with its clients in the US.
- Government policies
The Indian government backs the IT Industry of the country. The Indian government allows companies to provide outsourcing services to various countries to promote their talent without restrictions.
- Account access for 24/7
The Indian accounting software gives you access to their software 24/7. This software saves your data on the cloud, letting you see everything they edit.
- Connecting Infrastructure
India has prominent infrastructures that connect them to counties across the globe providing data connectivity, cyber security, etc. If you are worried about the authenticity and security of your finances, outsourced services will never disappoint you in any manner.
What services do accounting outsourcing firms offer?
1. Bookkeeping services
2. Accounts Payable
3. Accounts Receivable
4. Management Reporting
5. Bank Reconciliations
6. Payroll Processing
7. Tax Preparation
The increasing competition requires a strong financial factor, and the experts help you get one. Experts help companies deal with online management systems with a team who hold years of experience in this field. They serve their clients with utmost pride and sincerity. With a wide range of portfolios they manage, experts try to increase their knowledge and efficiency every day to provide the best to their clients.
If you are a small company and worried about your finances & looking for a cost-effective accounting outsourcing company, you can refer to CapActix. We provide economical solutions rather than high-priced quick fixed findings.
Why To Choose CapActix For Accounting Outsourcing Services?
CapActix believes in time optimization to offer productive results to clients. Our accounting services focus on increasing the rate of interest for the companies we work for.
From setting up charts of accounts and preparing your balance sheet to prepare your sales and use tax returns, CapActix has it all. If you are looking for accounting outsourcing services, consult our team and understand what we have got for you. Give us a call at +91 957-444-0217 or drop a mail at [email protected]