Tag: Outsourcing

Outsourcing Bookkeeping Frees Up Time to Grow Your Business

The onslaught of avant-garde technology today has found many scrambling to internet based services. From medical help to mortgage refinance and now outsourcing of bookkeeping and financial services are available online. This way business finds it cost effective and very efficient.

A detailed representation of the business accounting functions is painstakingly done by the professional accountants of the outsourcing firm. Virtually what the client has to do is merely fax or scan his documents and submit and bookkeeping is made simple. The professional help automatically takes out most of the hard work out of bookkeeping.

Bookkeeping could be server based. If the client does require that his accounts books be maintained in his own computer, the outsourcing bookkeeping connects to the client’s computer through the internet. This is done with the use of remote desktop access services. Then in the morning the client will find his books updated and simplified in his computer. This means that the client gets financial statements, reports, checks, sales invoices, and others on his own computer ready to print. This he can conveniently do without having to log in to any website and be bothered by the hassles that go with it.

Bookkeeping, by its inherent nature, necessitates a lot of paper work. It seems like the work is almost always never done on time. Accounting data entry, payroll preparation, cash flow, bank and credit card reconciliation, trial balance, accounts payable management and other bookkeeping tasks which need updates every month can be reorganized and restructured in few very easy steps. Completion of the project is within the time frame given and the cost does not go over the budget.

Outsourcing bookkeeping has different processes options to update your books. There is a wide array of options available where you can choose according to your requirements as to what is best for working conditions. The client also gets to choose the process option that he finds most efficient and the compatibility of resources in his environment.

The processes the client could choose from for outsourcing bookkeeping are Remote Access Based, Hosted Software Based, Server Based and Online Options. These are some of the processes that would suit your necessities and your convenience.

Another option is for the client to send the documents either by having them scanned or through fax. The bookkeeper logs on using an online service overnight. With the help of the software, she starts to update your books, and when done logs out. While you can take a look at your books the next morning and everything is already done!

The degree of security and protection in place is the highest available today. Information is treated as confidential and sensitive. Privacy is considered of utmost importance. That is why the best of encrypted technology is employed to make sure that there is no infringement committed on your data. Only authorized bookkeepers and accountants have access to client’s documents and books.

Outsource your bookkeeping today; and focus on those functions of their businesses that really matters for its growth.

India Outsourcing Accounting Can Undertake Accounting Task Proficiently

Accounting is one of the important aspects of any business. It needs a lot of care as it contains all the finance records of the company. India outsourcing accounting plays an important role for the business to make them work smoothly. Accounting is responsible to maintain the finance records of an organization. Outsourcing Accounting services plays an important role in the world of finance and accounting. Today there is extreme competition in the market and every business is in the rival to prove itself. For this they need to make some good strategies. The businesses undertake all possible measures to cut costs of their finance and accounting department and also to increase the productivity, improving profitability and creating strategic value to business. So, outsourcing accounting has seen a good response and the business owners are eagerly considering it.

India is well known destination for the accounting outsourcing. Today businesses have to face tremendous pressure and they are burdened with extra work. Such business organizations do consider it more keenly as they will get quality work done within their time frame. The companies are undertaking India outsourcing accounting as an effective tool for their business. You can make approach for your company to outsource accounting task at reasonable rates. You can get quality service with best professionalism from these firms. There are numerous companies who have made big money from accounting outsourcing. Infact, many more companies are moving towards this service to make it a strategy for their business growth. It has been seen a huge demand in the software outsourcing services. And so to cater to the huge demand, many firms are upcoming in this field to make outsourcing task more better.

In order to achieve best and profitable results from your business, you can consider India outsourcing accounting services. This technique will save lots of money and you can invest your saved money on the growth prospects of your company. You can trust on the vendor to outsource your accounting department to India or some other destinations that you want. Your business will surely make a good profit margin. This feature will bring down the burden of your work as accounting is such a big job that needs a lot of concentration. We are known with the fact that in order to drive a business, a good effort, time and resources are highly required. You have to look for every department that it runs smoothly right from sales, marketing, customer service and the administration.

You have to keep the accounting department well managed so that you keep up the fast and upward growth. It doesn’t matter how large or small your organization is, you have to keep your accounting department well maintained. Always remember to do some homework before you hire a company to handle your accounts. Accounting task is really a serious job and it needs to be done with utmost care. Even a slight mistake can make your business in loss.So, look for such vendor who is reputed in outsourcing task. In this way, you can relieve of getting a better job done for you. This strategy will save your time and money that you will have to spend on your employees to make them trained.

BPO Outsourcing Shifts Internal Job to External Company

BPO Outsourcing means shifting of internal job to external Company, with different geographical location, sometimes.It is generally done at different geographical location by USA and UK. These countries find it feasible enough to get their job done from countries like India, as they provide same services at much lower cost.

Through Call Centers in India, Companies in USA and UK are able to reduce their procurement cost, substantially. Secondly, Small Companies can procure services with ease. Business Process Outsourcing is involved with back-end jobs like billing, payroll processing, data entry, and the like. These jobs are performed with full competence through BPOs, within the stipulated time period.

It is absolutely competitive and up to the mark, so clients do not have to worry over any type of services, whatsoever. The best part is that they are able to reduce their cost of services to bring down cost, substantially.

Different benefits of BPO Outsourcing are:

Time Saving: Processing of all the services, by oneself is cumbersome and time consuming. Promoters might lose on their main business tract due to extra time-spending in related activities. When you are an expert in your field, then it is not essential that you are aware of all activities, related to your business. It saves time when you opt for BPO Outsourcing of all essential jobs from some reputed outsourcing Company.

Money saving: It is done to reduce cost of operations involved in those services. This is so because, outsourcing partner is apt in services and produce better results at comparatively much lower cost.

Professional touch to services: One business unit may not be best in all related services. One need to go for outsourcing of to service their customers with best possible services. BPOs are filled with professionals who provide their services with maximum efficiency. A professional touch to services creates better response and expertise in your work.

It is one of the best options for offshore clients. Offshore Companies are able to generate best results at lowest possible prices. BPO Outsourcing is done for various activities. Clients can take advantage from such offerings and enhance their services.

Current Trends in Outsourcing

Current and future trends in outsourcing pose big challenges for India. India is more than capable to meet the challenges head-on but the preparation to tackle future challenges should begin right away. India will have to do all it can to maintain the top position in outsourcing that it occupies by providing top quality services, as it has been doing for the last two decades.

In present times, Business Process Outsourcing has expanded to include a number of new services like IT outsourcing, financial outsourcing, Manufacturing outsourcing, ITES outsourcing, etc.

Additionally, outsourcing has become very sophisticated and technology intensive. Clients of Indian BPOs are not only looking to cut costs but are also considering the technology BPOs are bringing to the table. Today companies outsourcing their work to Indian BPOs expect Indian companies to add value to their business processes, impart excellence to their customer relationship, improve quality, speed up product distribution in market, and meet world-class standards in corporate governance.

India faces stiff competition from nations such as China, Philippines, Sri Lanka, Pakistan, Bangladesh, Brazil, and several other emerging economies in Eastern Europe. This is bound to put pressure on the margins of Indian service providers as more and more countries join the BPO bandwagon. Outsourcing has instigated many a political debates and it is only going to increase in the coming year as the US presidential contest heats up. In the coming months expect to hear a lot of negative views on outsourcing emanating from the United States. However, US CEOs are well aware of the value that Indian BPOs add to their operations.

Currently, China reigns supreme in manufacturing outsourcing and India occupies the top position in the services sector but things could change if the private sector and the Indian government lower their guard. China is consciously focusing a lot of energy on the financial, banking, travel and tourism, software and application development sectors. China’s outsourcing industry is growing at a rate of 9.5% as compared to the 6% growth of the Indian outsourcing industry. Chinas refusal to strengthen the Yuan is bound to have an impact on the Indian outsourcing industry. Outsourcing expenditures of organizations worldwide is rising and India needs to pull up its socks if it wants to win the race against China. India will have to invest heavily in infrastructure, and will have to revamp its centers of higher education. Over the next 10 years India will have to increase the number of universities and improve the standards of existing universities if it wants to compete with China and other developing countries.

India is poised to record impressive growth in services, requiring advanced English language skills, like content, medicine, research and analysis, legal, engineering, and insurance outsourcing. Outsourcing will however remain immune from the current recessionary trends that can be seen in other sectors of the world economy.

How to Choose a Good Business Process Outsourcing Service Provider

Did you know that organizations that prioritize business process outsourcing services see 12 times higher return on sales than companies that do not? This was observed by the International Customer Service Association. Therefore, it is imperative that you indulge in delegating the work in order to achieve the set target of your business. A provider of BPO services can successfully handle your diverse work areas while you concentrate on the core functions.

Things to Make Sure While Hiring Business Process Outsourcing Services

Businesses that choose to hire business process outsourcing services can cut down their cost of investment to a great extent. Following are the top guidelines to adhere to while choosing a BPO services provider to reap the benefits of outsourcing:

1. Effective Government

The government should not only be supportive but should also actively contribute to the BPO industry. The government of the leading countries, such as India, formulates policies and regulations that help the business process outsourcing economy grow. Make sure that the political structure is stable enough so that the economic structure does not face any threats. Economical threats, low foreign direct investment rate, may shake the stability of the outsourced company.

2. Infrastructure and Technologies

A developed infrastructure and latest telecommunication advances can help your business grow leaps and bounds. Problems, such a congested phone lines, frequent server downtime, outdated software can lead your business to face a hard time. Make sure that you research well and choose a location where there are more numbers of high-tech parks built for smooth business operations.

3. Skilled Executives

Skilled professionals are essential to reflect the goals and values of your business effectively. Customers often feel hostile and frustrated when the customer support executive is not tech-savvy and take more time than expected to troubleshoot. Such inefficiencies in business process outsourcing services companies can make you lose customers in no time. Therefore, ensure that the BPO service provider appoints IT and software skilled personnel.

4. Anytime Service

Businesses do not want to stop their sales at any point of the day. Therefore, hiring business process outsourcing services in countries which offer a smooth flow of your business at any hour of the day will prove useful. Customers calling for support during late evening hours or early morning hours would be effectively entertained. Employees of the outsourced BPO service companies also would not have to suffer with ‘graveyard shifts’. Customers rely a lot in companies that facilitates 24×7 support services and want to deal with the company again in future.

Software Development Outsourcing India

Outsourcing software development to India has become more and more popular over the last few years, and picked up even more momentum lately. Corporations in the USA have followed this path because a technology worker costs some five times less in India than in the USA. Motivation for Outsourcing Corporate executives started seeing software development and support, and the whole of Information Technology as a cost, and not as a strength, nor a differentiator. So they started thinking of it as something they can subcontract, just like security guards, janitorial, landscaping and snow removal.

Objections to Outsourcing

However, this is not always the case, and there are hidden costs, and some pitfalls, such as difference in work culture, communication styles, and time zones, not to mention the long term safety and security concerns of giving everything to a foreign country, and a foreign jurisdiction. The analogy of janitorial and landscaping is not an accurate one though. The reason being these services, although they are outside the company, they are still within the city or the country. This gives some soft of control, being under the same jurisdiction, and there is no danger of political tensions, wars, or the international scene affecting the service. Moreover, low risk, and not core to the business. Software and Information Systems in general contain many functions that are vital to the company doing business, and in many cases it is part of the “Intellectual Capital” of the company.

Offshore outsourcing has been popular for several years. Countries like India are popular offshore outsourcing locations which offer cost effective solutions. There is a wealth of articles and write ups about the cost advantages of offshore outsourcing with a majority claiming anywhere between 40-50% savings.

Security and Privacy Issues is now stronger than the Past in India. Both Government and Private Sector are taking various steps to maintain the Peaceful atmosphere in IT Sector. Even small and medium Software Development Outsourcing Enterprises like Encodex Technologies India are very disciplined and careful to verify their Employees. The yearly turnover is increasing for total Outsourcing Sector in India.

A lot of people focus on India for lower costs. What is remarkable in India is the caliber of the computer engineers. The cost savings were an additional benefit. The work culture and Atmosphere of most of the Indian Software Development Company’s are now CMM or CMMI level Standard.

India’s workforce also offers the largest pool of technical skills in the world, and the country’s universities add 220,000 engineering graduates to its ranks annually. The world is discovering the fact that India is a super power when it comes to developing IT solutions. Swept by the current of the latest trend “IT outsourcing to India”, we find many fortune 500 companies like Microsoft, Oracle, Citibank, Morgan Stanley, Wal-Mart, AT&T, General Electric, Reebok, General Motors, Sony, Boeing, Coca-cola, Pepsi, Swissair, United Airlines, Philips, IBM, Lucas and British Aerospace beneficiaries.

Following Factors are the Reasons why Offshore Outsourcing is coming largely in India?

o India’s human resources

o Cost efficiency of IT outsourcing in India

o Standard quality that firms doing IT outsourcing in India guarantee

o The reliable communication facilities

o Technologically advanced outsourcing firms in India

o Galloping growth in Indian economy

o Stable government facilitating IT growth

o Indian government policies

o Positive and Encouraging Policies by Indian Government

So the Ultimate Outcome of Offshore Outsourcing in India is Developing Outstandingly.

Offshore outsourcing involves a great deal of thought. One should not be spurred simply by expectations of rapid cost reduction. The new mantra of offshore outsourcing to India is quality solutions. When processes are off shored to India, companies not only get the advantage of low cost but also experience improvement in productivity and quality. These are the reasons that should motivate offshore outsourcing to India.

IT Outsourcing Services Companies In Eastern Europe

Worldwide IT Outsourcing: Looking For New Places

The world IT outsourcing services market includes a number of countries and regions which due to their specific conditions are attractive for starting such a business. In fact a certain geographic division of labor can be observed in this field. Throughout the history the division of labor was driving the universal economy ahead, do no wonder that outsourcing is so popular in the software development industry. Some countries are best in producing ideas and concepts, while others provide better conditions to do the technical part of the job.

IT outsourcing services companies are mostly located in less economically developed countries which nevertheless have prominent level of technical science and engineering resources. China and India were monopolists in this market for a long time utilizing the big gap between local prices and prices in Western Europe and USA. Today we certainly can speak about another great opportunity: European outsourcing.

Eastern European Countries Join The Game

Eastern European region contains a number of countries which are different from each other and from their Western neighbors by economy level and by industrial development. Most of them were under the influence of the USSR for some period of time and had economic hardships after its collapse. Though many have joined the EU by this time, they still have much lower prices and salaries.

Industrial downfall in Eastern European countries urged people to look for new markets where they could gain better positions. Software development turned out to be a real alternative. Being purely intellectual branch (a number of brains – that’s all you need to start), programming does not require big expenditures for starting a new project. The only thing one has to invest in is good education.

IT Outsourcing To Ukraine – A Nice Alternative?

Among other members of the Eastern European region, Ukraine is one of the most attractive for Western IT companies. At the moment it possesses about the biggest quantity of software and web professionals, while salary levels here are among the lowest in Europe. As for education, it is one of the Ukraine’s strong qualities – there a multiple big technical universities in major cities of the state. Hundreds of IT students are graduated each year creating rich substrate for national software development businesses. On the other hand, Ukrainian IT companies are strongly oriented at collaboration with Western European and American businesses and therefore IT outsourcing is very popular here.

In the beginning of 2012 there were nearly 6 thousand IT outsourcing services companies performing in Ukraine. They are working with clients from various places. Major countries outsourcing to Ukraine are Germany, Switzerland, Netherlands, France, Italy, USA, ANZ. Geographic location of the country is rather encouraging: it takes only about couple of hours to get here by plane from any of Western Europe’s cities. This is a great advantage as a project owner who has outsourced his project to a Ukrainian team of developers can easily pay visits to his collaborators’ location from time to time in case he needs to interact with them personally.

So Ukraine is an emerging regional leader of IT outsourcing in Eastern Europe. As the demand for IT outsourcing services is growing faster and faster worldwide, it is possible that increasingly more software development companies will consider using the services of Ukrainian IT outsourcing vendors. Well, what about joining this promising trend?

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