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Top ten reasons for CPA firms to consider acounting outsourcing

utsourcing has affected the lives of millions the world over, today every single aspect of an office can be successfully outsourced and in the process money can be saved. It is not uncommon for companies to outsource their customer care, technical support or even their day to day office functions to overseas firms in India or the Philippines to name a few. Known as a BPO or business process outsourcing, BPO is the pinnacle of global outsourcing and many believe is the biggest thing to have come from outsourcing.

By actually outsourcing your company's financial department you can avail a host of benefits that would other wise be too expensive, or just not feasible for your business, especially if you are a small business CPA firm.

Top 10 Advantages of CPA outsourcing

1. Perhaps the biggest reason for any kind of outsourcing is to save money, by outsourcing your CPA related activities like Tax, Auditing, Financial analysis and financial planning, any company can save up to 60% in terms of operating cost for accounts.
2. Every year there are changes made to the CPA requirements and tax laws. This has meant that either CPA's keep up or be left out. What this has done is create a massive deficit of skilled accounting professionals in developed countries like US, UK and other European countries, however there is no such shortage overseas, as outsourcing firms understand clearly that unless they can keep up with requirement they stand to loose out on not only future clients but their existing customer base. Hence by outsourcing you are can rest assured every thing is up to date and legally valid.
3. Apart from making savings on just man power, especially small businesses benefit from outsourcing, they are spared the expense of investing in infrastructure like computers, since such preparations are the onus of the CPA firm they have outsourced to.
4. The biggest success of small businesses today is their capability to run on a skeleton staff, the smaller and more skilled the work force the bigger the chances of the small business flourishing, the same strategy is also being used by large corporates. Hence by outsourcing you are using the work force overseas only when you need it and for the rest of the season you do not pay for workforce you don't need.
5. US firms that offer you around the clock support charge you a lot for their services, however since most KPO's that are offering CPA outsourcing are also dealing with bigger firms that require 24x7 support, the chances are that you will be offered 24x7 support too.
6. The advantages of going with a well established CPA outsourcing firm is that they have already done their homework in terms of the qualifications required, the infrastructure etc. This has meant that KPO's no longer offer you just the option of getting your taxes done once in a year, you can actually enjoy the full benefits of a CPA firm, like financial planning and financial advice, and the cost margins are usually low.
7. KPO's usually have redundant back up systems, and super safe storage. This means that not only is your data secure, but you can actually request previous data at any time. Since the infrastructural investment has already been made by the KPO you get the benefits instantly.
8. Almost all of the CPA's use accounting packages like Quickbooks, Simply accounting and Peachtree to manage their clients-accounts data, if you have an in house person managing, usually means pay for the software license and for the person,using a BPO vendor you are saving additional cost and hassle.
9. By making savings on your accounting, you can actually invest the money in other avenues. This mean in essence the BPO is not only saving you time and money, it is also helping you expand and grow your business.
10. If you are willing to invest in a scanner, you can actually create a completely paperless office, by sending scanned images to the BPO firm you have outsourced to, you can save time, space and operating costs.

About the Author
Mani Malarvannan is the author of this article on Offshore Financial.
Find more information about Offshore Financial here.