Ever came across a recruitment advertisement stating that, “Superman Required: For Moving Car Manufacturing Plant from One Place to Another Every Week.” It is indeed an imaginary thought but perhaps for the sake of imagination, how many possibilities does it opens for the business community if productions facilities can be moved within days; it may vanish the boundaries of the World!
Now coming to the reality, we can’t move production facilities but there are lot of other works which can be moved (Read Outsourced). With The World Being Digitalized, many business houses including the small and big ones can function smoothly and can improve the bottom line by reducing costs of certain business functions; the most crucial being maintaining the books of accounts or also called Book-Keeping.
Book-Keeping Involve many functions like:
- Ledger Maintenance
- Data Entry
- Record of Accounts Receivable and Payable
- Preparing Financial Statements
- Preparing P&L and Balance Sheet
- Tax Filing and Maintaining Taxation Records
Accounts Outsourcing or Book-Keeping Outsourcing provide hordes of benefits especially if it’s outsourced in a nation like India, few of the benefits are:
- The Western World or the countries that have a higher valuation of currency can get their accounting activities done at much lower cost ($ 10 Per hour).
- Enormous Supply of Talented Work-Force in India.
- Far better in terms of effectiveness and efficiency.
- A team of talented pool in India can work on fees basis at the cost of one recruit who is paid in dollars.
- Providing professional and quality work.
- Present Trend: Both Large and small Corporation shifting their Operational and Accounting work in India day by day.