We all know India is World’s second-largest country having a population of 1.3 billion. India has maintained its TOP rank in the arena of Outsourcing World with it's professional and skilled labor. As per the latest survey, 80% of the United States and European firms ranked India as their number one outsourcing destination. Let’s crackdown why outsource accounting services to India is the best option for UK accountants?
1. Sound Quality Service:
When it comes outsourcing of accounts; what comes
first?? Low cost, Quality or Timeliness. Well, quality is the main factor on
which outsourced accounts works. Every year around 10-12 million students
graduates and also having the world’s second most English speakers adds weight
to their services.
2. Cost Saving:
Most business runs on the Profit Maximisation. All
we know that money saved is money earned. But when it comes to saving of cost
up to 50%! It’s worth! As per the survey, accounting firms can save up to 50%
of their total cost by outsourcing their work.
3. All under one roof:
Most Indian Accounting outsourcing firms provide
services as follows:
· Bookkeeping Service
· Finalisation of Accounts
· Preparation of Individual’s Tax Returns
· Preparation of Company’s Tax Return
· VAT
· Payroll
· Management Account
· Account Receivable/Account Payable
Getting various services from one source shall ease
up in communication and reduce the time. Thus UK companies get all statutory
work done under one roof.
4. Customer Satisfaction:
A report from the hindubusinessline.com says, The
Indian IT Outsourcing industry is expected to grow to $350 billion by 2025, from the
present $191 billion, riding on increased growth in digital initiatives and
higher spends by global Fortune 500 clients. Just shows the level of customer
satisfaction that Indian Outsourcing Companies have maintained over the period.
5. Favourable Time Zone:
“Time waits for none” is the famous quote that we
all know. In the outsourcing world, time zone has its advantage as India is
ahead of 5.5 hours of GMT. This works in favour of most business as they can go
for expansion for the business while their works processed smoothly in India.
Moreover, most outsourcing firms in India have flexible hours of working to
satisfy customer needs.
6. Government Support:
Indian Government and regulations have always
supported Outsourcing businesses in India. Since Outsourcing firms generate
ample employment and it is one of the highest-paid career options for the
younger generation.
7. Usage of User-friendly Software:
Indian firm uses the latest software which is
running successfully in the UK. Most Indian firms are familiar with the UK’s
reliable accounting software such as XERO, Sage, QuickBooks, TaxCalc. IRIS, CCH
etc. It’s always advantageous to have experienced personnel.
8. Data Security:
In the era of growing technologies, Data Security
is the biggest challenge for all business. This problem disappears when you
outsourced your work to India as it uses the latest cyber securities, security
contacts and procedure giving best assurance to business that data outsourced
are safe and secured.
9. Inflated Business & Personal Growth:
While work is outsourced to India let’s explore
other strategic business option. The owner can invest their valuable time to
other Managerial and strategic aspects, family time, no more stresses of any
statutory deduction and meeting deadline. All in all, it just gives a healthy
life!
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