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Topics: Tax, Tax outsourcing, Tax preparation, Tax preparation outsourcing, Tax season

Tax Preparation Outsourcing: 7 Qualities That Make A Reputed Service Provider

5 MIN READ | Posted on October 04, 2022
Written By Divya Ramaswamy

Tax Preparation Outsourcing: 7 Qualities That Make A Reputed Service Provider

Tax season won’t be grueling anymore.

It won’t be the season when you have to extend on weekends after working over 11 hours on all weekdays.

No more long caffeine-driven hours, late dinners, or delirium!

Yes, You don’t need to bear the brunt of tax-time stress. Outsourced tax preparation services are going to help you keep your all-star team with smiles on their faces during the busy season, but only if you choose the right partner.

WHY TAX PREPARATION OUTSOURCING?

You can leave it to the experts and relax; it is as simple as that!

With tax preparation outsourcing, you can add a dedicated team of highly-skilled tax preparers to your team and save up to 50% or more on each tax prepared. From significant cost & time savings and profitability to risk mitigation, data security, and more, tax preparation outsourcing can benefit your CPA firm, especially during the tax season.

HOW TO FIND A REPUTED OUTSOURCING PARTNER?

While 78% of businesses worldwide feel optimistic about their outsourcing partnership, trustworthiness and signing up for a reputed service provider are one of the key reasons behind it. Certain qualities make an outsourcing service provider trustworthy and reputed. Read on to find out.

QUALITY 1: HAS COMPREHENSIVE DATA SECURITY MEASURES IN PLACE

Data security is crucial, and it is critical that your outsourcing partner can provide data protection regarding your clients’ personally-identifiable and sensitive information. Look for certifications like SOC 2 that indicate that the company takes data protection and compliance very seriously. Find out what data security measures your prospective tax preparation outsourcing partner follows. It is best to shortlist one that uses robust and secure information technology systems and complies with ISO 27001 standards.

QUALITY 2: HAS ESTABLISHED A LONG & PROVEN TRACK RECORD

This is a very important criterion when it comes to finding the right outsourcing partner for your CPA firm. The most reputed tax outsourcing service provider would have established a reasonably long and proven track record in the industry. Please find out the number of clients they have helped with tax preparation and the number of years of operation. The more experienced a prospective outsourcing provider is, the more reliable they will be. Clearly, you want to see that your outsourcing provider can really deliver what they say they do and that performance is guaranteed. You want to partner with an outsourcing firm that you can rely on.

QUALITY 3: HAS AN EXTRAORDINARY TALENT POOL

The perfect tax prep outsourcing company would have employed highly skilled and qualified tax preparers to execute the requirements. Assess the outsourcing provider’s technical expertise and evaluate them based on skill set, use of the latest technology, technical knowledge, and passion. It is best to choose a service provider that has above-average experience with multiple technologies. This is a foolproof way of improving overall efficiency, and it also means getting the job done right from the beginning.

QUALITY 4: HAS THE BEST-IN-CLASS INFRASTRUCTURE & TECHNOLOGY

It is important to ensure they have the best infrastructure and use the latest tax preparation software alongside finding their backup plans. Not only does this ensures high efficiency, but at the same time, it can also help minimize risks. Using the right set of tools can ensure quick turnaround times and accuracy, given how tax preparation requires the highest levels of both.

QUALITY 5: COMMITS TO DELIVERING QUALITY

Check out client testimonials if a prospective tax prep outsourcing provider has been delivering quality outputs. Partner with one that has an explicit service level agreement outlining the scope of work and the process flow. Top outsourcing companies have manager FTE solutions via which experts will review the job to avoid any inaccuracies.

QUALITY 6: OFFERS FLEXIBLE ENGAGEMENT MODELS

A flexible working approach is a good quality for an outsourced service provider any day. Find out if your prospective tax prep outsourcing partner offers multiple engagement models to suit your requirements and budget. Beware of hidden costs that some outsourcing companies charge their clients with. An ideal outsourcing partner is one that offers flexible engagement models designed with scalability.

QUALITY 7: PROMISES EXCEPTIONAL SUPPORT

It isn’t enough if your outsourcing partner only offers on-time work delivery; they must also be the best support system. It is best to shortlist an outsourcing provider whose staff has good communication skills, so they understand the requirement and keep you updated. Also, it would be definitely advantageous to choose a service provider from countries like India with a favorable time zone difference.

MUST READ: Tax Preparation Outsourcing 101: The Ultimate Guide for CPA firms

WRAPPING UP

Finding an ideal outsourcer that meets your requirements can be challenging as well as time-consuming. But it can certainly propel your accounting firm’s growth and efficiency.

Keep these 7 qualities in mind when you are choosing a prospective tax prep outsourcing partner. If these qualifications are not met, it would certainly defeat the purpose of you outsourcing your CPA firm’s tax preparation requirements.

Now that you know what qualities you shouldn’t miss in an outsourced tax services provider, make a shortlist of 3-5 companies and evaluate each based on the above-mentioned vital factors. You want your outsourcing partner to fit these requirements and provide you with the best investment return.

Get references, research, research, and research until you shortlist the perfect outsourcing partner to take care of your firm’s tax preparation requirements.

QXAS- YOUR IDEAL TAX PREPARATION OUTSOURCING SERVICE PROVIDER

We are your perfect partner if you are looking for tax preparation support. But you can still look for other service providers with the qualities mentioned above. But the chances are that you might not find anyone more perfect than us to take care of your tax prep requirements.

THE QXAS ADVANTAGE:

  • Achieve immediate capacity & greater profitability
  • Quicker turnaround times & exceptional support
  • Highest standards of data security & compliance
  • More time & Creative space to focus on growth & scalability
  • Enhanced service offerings
  • Flexible engagement models

Book a Free Consultation

We hope you enjoyed reading this blog. QXAS is your perfect tax preparation outsourcing provider, and we bet you can’t find anyone better. Book a call right away to explore how our outsourced tax preparation services can help you sail smoothly through the busy tax season.

Originally published Oct 04, 2022 01:10:22, updated Oct 14 2022

Topics: Tax, Tax outsourcing, Tax preparation, Tax preparation outsourcing, Tax season


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