In era of cloud computing, remote operations, majority of the work would move from onsite to the virtual environment. This would also result in work being transferred cross border in order to gain from the cost advantages between eastern and western countries.
It has been almost a decade for the Information Technology work (like software development ,web development) has moved to virtual world leaving back the barriers of location.
It is beginning of a new era for cross border accountancy just like the Information Technology Sector.
However there are challenges for Accounting Sector which needs to be addressed. Some of them are:
a) Network security
Bringing the data on network can have increased risk of eavesdropping and compromising on confidentiality of client information
b) Knowledge expertise
Accountants have specialized knowledge of certain definite national laws and regulations.
In order to go cross border new expertise has to be gained.
c) Legal requirements
SOX and other regulations have stringent requirements for outsourcing of accounts related work.
d) Professional and ethical conduct of accountants.
Local regulations of the CPA’s govern the professional and ethical conduct of the accountants.
e) Managing Cultural Diversities and knowledge of International Laws
There might be communication gap due to different cultures.
I would like to invite member’s comments who hold any view regarding cross border transfer of work.
For More Information Visit Us: Accounts Outsourcing
Outsource Bookkeeping Services are very useful in various countries like US, UK, Canada, Singapore etc. If you want to start any kind of small or large business, one thing is very important for it i.e. regularly updated book keeping. Purchasing of Bookkeeping software and to train the people for bookkeeping is very costly nowadays. The companies, who do not know about bookkeeping, can take the benefit by outsourcing to India. It will remove the requirement of Accounts Outsourcing division in any organization and the organization can get entry in the professional services of bookkeeping in the market by 40-50% of the cost.
In the worldwide, India is the best country for outsourcing the bookkeeping services. Do you think that we can get many benefits from it? I would say yes , we can get the benefits from it . There are mentioned as under:
• The expense on bookkeeping can reduce up to 50%
• Increase the bottom line with less staff
• The focus on the business can increase
• Appoint an enthusiastic online bookkeeper with honesty
• The chances of the training program for accountant would be reduce
• The data would be more confidential and secure with the latest technology
There are many bookkeeping services that will be outsourcing to India. There are many software used in India for Outsource Bookkeeping Services. There is one software named QuickBooks for accounting and it is widely used. It is very useful for multiple users and it has regularly updated with no legal issues. It can increase the efficiency and also the profit in the company.
This service of outsource bookkeeping is very much secure at its level. There are two different methods for it. One is Online Bookkeeping and the other is offline bookkeeping. I offline bookkeeping, the client has to send all the scan documents and upload it on the website of the company. Than when the company receives the data, it will send for approval and you may able to get confirmation from the company. While in the Online Bookkeeping, the clients have to give the details of their server and the company operator will directly do the work.
In the conclusion, we can say that the outsourcing bookkeeping services are very secured and beneficial in India as well as outside the India.