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Topics: bookkeeping, outsourced bookkeeping services, Outsourcing

How To Zero in On the Perfect Outsourced Bookkeeping Services Company?

6 MIN READ | Posted on August 30, 2022
Written By Divya Ramaswamy

How To Zero in On the Perfect Bookkeeping Outsourcing Provider

Bookkeeping outsourcing has been effective for accounting firms trying to scale. But the key to success lies in finding the right outsourced bookkeeping services provider. Outsourcing can become an indispensable tool for accounting firms to fulfill operational requirements quickly, and the increasing demand has given rise to many outsourcing companies. The more the number of choices, the more challenging it becomes to shortlist the right outsourcing partner.

So, you have decided to outsource your CPA firm’s bookkeeping. While you have made an excellent decision, choosing the right service provider won’t be as easy. Such an important decision will require careful consideration cos choosing the wrong outsourcing partner can lead to difficulties down the line. You need more than just a service provider; you need a partner you can trust. The first step is to have clarity pertaining to a few things, such as identifying the scope of outsourcing work, primary goals of outsourcing, the volume of work, need for data security standards, risk-taking capacity, your budget, stability & clarity in requirements, engagement duration, etc.

But making the selection need not be so daunting. While there are too many options, you can easily find the right bookkeeping outsourcing service provider. Certain qualities make outsourced service providers stand out from the rest; you have to get in touch with those who you think ticks all the boxes.

Let’s look at the qualities of the right outsourced bookkeeping services provider for your CPA firm.

EXPERTISE & EXPERIENCE

The first and foremost quality to look for in an outsourced bookkeeping service provider is their experience in the industry, as well as the expertise and skill sets they bring to the table. The idea is to partner with a third-party service provider that is confident about the timely delivery of tasks with utmost accuracy. And given how bookkeeping is a critical function that provides businesses a reliable measure of their performances and delivers vital information crucial to making strategic decisions and setting goals, experience and expertise are key considerations you must make. It is a good idea to discuss with your service provider and understand the level of expertise their staff has with bookkeeping. When you partner with an ideal bookkeeping service provider with trained and expert bookkeepers, you can be confident in the accuracy of your books and focus on other functions. The best outsourced bookkeeping services provider will let you interview candidates and onboard the preferred ones to work as an extension of your team.

EFFECTIVE COMMUNICATION

Given how communication is critical to success, it becomes beneficial to find an outsourcing provider with whom there will be no communication barriers. You must set up a communication strategy, establish expectations, and develop frameworks accordingly. Even though face-to-face interactions are one of the most effective forms of communication, long-distance communication can still be as effective if you have the right channel and strategies. After all, communicating effectively can be achieved only if you have a plan.

Working with an outsourcing partner can have enormous benefits for your CPA firm, but what happens when poor communication comes into play? Especially given the time zone differences while outsourcing to countries like India, you need to look for bookkeeping service providers who ensure open communication and a quick response time. Your outsourced bookkeepers should respond to your queries and submit reports in time for proper decision-making.

REPUTATION & PROVEN TRACK RECORD

While outsourcing companies with big marketing budgets quickly get their names out there, client testimonials are those that truly showcase a vendor’s reputation. Spend some time going through user reviews and client testimonials left on a potential outsourcing partner’s website and social media pages. And after thoroughly evaluating the reputation of the company, you can decide if you want to go ahead with their services. Also, look for a successful history of delivering services that have consistently fetched positive outcomes for other businesses. The perfect bookkeeping outsourcing provider is one that has a sterling record of providing the best quality services on time. Client references are the best kind of proof when it comes to finding the reputation of a service provider.

Must Read: The Definitive Guide To Outsourced Bookkeeping Services

YOUR BUDGET

Now, this is an equally important criterion when it comes to shortlisting an outsourced bookkeeping services company. 59% of businesses cite cost as a primary reason to outsource key functions. Even though cheaper is certainly not better when it comes to quality, it is wise to stick to your budget and take up the services from a reputed outsourced service provider who offers quality services at an affordable price. Your budget could also narrow the number of potential companies to shortlist from. While an expensive outsourcing company could treat a small project less importantly, it might be a bit too advanced for a small team whose resources are shared with several other clients. Go with a partner within your budget but, at the same time, can handle your project efficiently. Also, there are possibilities of hidden charges when it comes to outsourced services. It would help if you clarified all the details about pricing models before signing the deal.

DATA SECURITY

You can never be too cautious about data security when it comes to outsourcing functions like bookkeeping. Considering how bookkeeping involves sharing confidential information of your clients, it is crucial to ensure that there is no breach or mishandling of data that would put your business at risk. Look for an outsourced bookkeeping services provider with comprehensive data security measures and ensure that they know your IP rights and privacy policies. Also, you could sign a nondisclosure agreement to adhere to your guidelines. To gauge the seriousness of your bookkeeping service provider, you could check their security framework certifications and reports.

QXAS: YOUR IDEAL OUTSOURCED BOOKKEEPING SERVICES COMPANY

We understand that you have numerous options when you are looking to outsource your CPA firm’s bookkeeping. QXAS is the preferred bookkeeping outsourcing services company for top CPA firms in the USA. We are a leading bookkeeping solutions provider offering custom-made solutions to accounting firms aiming to scale. With a dedicated team of over a thousand accounting professionals, our offshore team is here to help you save time, effort, and money while mitigating potential risks. Top talents with expertise & experience in bookkeeping, state-of-the-art infrastructure, the latest bookkeeping software & tools, airtight data security measures, and amazing client testimonials, you name it, QXAS ticks all the boxes.

THE QXAS ADVANTAGE

  • No more staffing woes: Interview & Onboard highly talented offshore bookkeepers with a minimum of 5+ years of experience
  • Build immediate capacity: Onboard preferred bookkeepers within just 48 hours
  • Substantial cost savings: Up to 50% on your bookkeeping tasks & increased profits
  • India’s first SOC 2 Type II compliant accounts outsourcing services company
  • Get access to certified, dedicated, outsourced bookkeepers to work as an extension of your team
  • Scale Quickly: Use the saved time to focus on innovation and growth avenues
  • Multiple engagement models to suit every requirement
  • Airtight data security & confidentiality: Our offshore bookkeeping services leverage an IT infrastructure with ISO 27001:2013 certification for information security management systems.

Book a Consultation

We hope you enjoyed reading this blog. Book a call right away to find out how our outsourced bookkeeping services can be a game-changer to your accounting firm’s productivity.

 

Originally published Aug 30, 2022 08:08:16, updated Aug 31 2022

Topics: bookkeeping, outsourced bookkeeping services, Outsourcing


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