Wednesday, October 27, 2010
Wednesday, June 2, 2010
Friday, March 19, 2010
4 things to check about outsourced accounting services
4 things to check about your outsourced bookkeeping and accounting services provider
Your foray into an outsourcing relationship among Indian firms can be secure and safe from the major risks that usually debilitate a company through cautionary planning, advance screening, fieldwork and with these following tips to target your trophy of a BPO service partner:
Target the small-to-medium-sized BPO providers that have long-term stability and expertise in the regional industry.
Large BPO service providers cater to a lot of corporate clients; you would want a service provider that can concentrate on your business interests. Large BPO service providers also have high rates of middle-management attrition and employee turnovers which can lead to delays and security risks.
Small-to- medium-sized BPO service providers are generally well-managed and it is advantageous regarding cost. Do not go after just any small BPO firm, particularly those new, "young" firms.
Seek out small-to- medium-sized BPO firms, firms which are selective with their clientele as you would be; firms with reputation and "age" in the industry, region wise. Such providers possess experienced human resources management and recruiting processes which can optimize employee selection from the local labor pool to secure the success of your operations.
A good catch is a medium-sized BPO service provider which has professional indemnity insurance in areas such as Errors and Omissions and CGL at levels comparable to large outsourcing companies catering to global corporations.
Target the BPO Service Providers with flexible and scalable services.
Achieve quality first, on a small scale, before scaling up and emphasizing quantity.
Seek out service providers that offer to perform pilot projects to determine market feasibility and the possible variables that can affect the outsourced operations. Using small-scale pilot projects to develop quality, your risk is significantly limited and simultaneously provides the opportunity to test your company's and the BPO provider's compatibility and capability.
The ideal BPO service provider should also be flexible to service any of your company's business requirements that can vary due to a dynamic consumer environment.
Target the BPO providers with industry-specific architectures and platforms.
What you're looking for are BPO service companies that invested in solid infrastructure with developed core competencies in process engineering and programming of professional management systems that allow you to track your operations, maintain constant communication and monitor employees' progress.
Also, open software architectures and platforms do not require the purchase and integration of conventional IT components such as business process workflows, imaging and other proprietary enterprise technologies.
This is advantageous for your company seeking greater returns from IT investments due to reduced cost, reduced risk and reduced time to market your product or service.
Target the BPO providers that employ management and adopt business culture, standards, practices and ideals of your country.
There are BPO service providers that have qualified managers on-site to provide integrated training and implement your workplace standards and client-oriented programs.
These managers are usually long-term residents in the region and this earns them the experience and knowledge with dealing with the local work practices and expectations, thus bridging over any cultural gaps that hinder can the progress of your operations.
It is a jungle out there in the Asia-Pacific with young BPOs rearing with their attractive business packages and promises to challenge the pack leaders who are protective of their business territory.
Guided by the 4 aforementioned qualities of a top BPO service provider, you won't fall prey to the runt of the business outsourcing litter but land your company the prize of the pack. Take a look at Hired Brains for instance.
Friday, March 12, 2010
Get accounts / bookkeeping outsourced รข€“ benefits beyond saving money
Get accounts / bookkeeping outsourced – benefits beyond saving money
Outsourced accounting and outsourced bookkeeping has become a vast practice for small and medium sized enterprises. This is particularly beneficial for businesses in Europe and America to outsource accounting and bookkeeping to offshore locations. By this way they can save accounting costs. Generally businesses who hire virtual accountants save their accounting costs up to 50%. However it would be unjust to view outsourced accounting with a view of cost reduction only. There are also many other benefits other than cost reduction, which may become useful reasons to outsource accounting department.
Here we shall analyse benefits of accounting outsourcing other than cost reductions.
1. Focus on core activities
This is probably most talked about, but most important reason of why you should outsource accounting. It is much publicized but it should not be underestimated. You just imagine that all your time is focused on developing your business, and you don't need to bother about things you don't know, or for whom you don't have time. This gives you more mental relaxation, so you are in a better position to innovate in your core activities and make better business decisions.
2. Reduced administrative burdens (employee issues)
By accounting outsourcing you are now no in worries of employee related issues. This is another great benefit. You don't have to interview potential employees to find a suitable one, you don't need to make a succession plan, you don't need to devise retention plans, you don't have to continuously invest in employees work descriptions, and you are not worried about filing various forms to government authorities relating to employees, just because your outsourced service providers are firms/companies which are providing your services and the persons who are providing your services are THEIR employees, not YOURS.
3. Expert services
You believe it or not, outsourced bookkeepers give you much expert and professional service that your in-house bookkeepers. the main reason for this is, your in-house bookkeepers are at a secure position, they don't face any direct competition, however outsourced bookkeeping firm is all times facing fierce competition, so they have to continuously maintain their competitive edge to stay in business.
4. Less paper work
This doesn't only indicate towards cost saving, but also you are fulfilling your corporate social responsibility by saving paper. Outsourcing accounting means more work will be computerised, so you are contributing in saving paper. This is in the benefit of overall economy. Outsourced bookkeeping reduces paper work because they don't report you each time in printed format, rather they always communicate, report and do work online.
5. Better use of office space
Is this not a good idea? By outsourcing accounting and bookkeeping your existing accounts department would, of course, be not needed, so you can use these rooms for more revenue generation. you may either enhance your production capacity or provide an additional room for customer services. Or at least, you can save rent costs.
6. More employee motivation
Your production, customer services and sales staff would be more motivated and productive if you outsource your accounting department. This is because there won't be any disputes between accounts department and other departments. Also All other employees would be more satisfied that their salaries, overtimes and accounts are maintained by more professional firms rather than few in-house bookkeepers, so there will be increased transparency, leading to employee motivation.
7. Less year end issues
Your outsourced bookkeeper wont delay any data entry or journal transactions till year end. They complete the work on day-to-day basis. So There won't be any need for over-times at year-end, nor there will be any issues or pending work. This would make your year-end filing and annual audits more convenient and smooth.
If you are looking at having accounts / bookkeeping outsourced visit the Hire Hired Brains page on http://hiredbrains.net/accounts-bookkeeping-outsourced
Thursday, March 11, 2010
Looking for a good accounting outsourcer
Looking for a good accounting outsourcer
Rapidly increasing in popularity amongst SMEs and corporates, Outsourced Accounting is all the rage, but there are still a lot of commonly held misconceptions about it and how it works… In theory, Outsourced Accounting can work with any kind of a business from smallest start-ups, to established SMEs through to some of the biggest international organisations.
However, people often misunderstand what it is and how it works, and think that it won’t work for them. Here are some of the objections that we hear to a company outsourcing its accounting operations, and why they are wrong!
We’re going to recruit our own in-house accounting
Really? Good accounting people can earn large salaries and even larger bonuses, simply because accounting is very skilful, hard work and not many people have the aptitude for it. Top accounting people naturally gravitate towards the top jobs on offer from the big corporates where they can earn six and even seven figure sums. However, working at that level is very stressful and every year some of those top people step away from the ‘front line’ for family or ‘work life balance’ reasons. A good outsourcer will recruit from this pool of people and so offer you a top notch accounting person with a proven track record that you can have working for you from as little as a day at a time. Trying to recruit these kind of people directly is nigh on impossible, and the alternative is to employ a person with less experience who is still likely to cost you a hefty salary plus 25% on top for recruitment fees – not to mention that six months down the line you might find that even after all your training and efforts, they are not actually performing that well, and you have made an expensive mistake.
I already have my own accounting
It’s common for an SME to have a couple of accounting people who are expected to do all the accounting related work. This can be a moderately successful model, if you have found good people to work for you, but typically don’t assume outsourcing won’t work for you. Adding some ‘virtual’ talent can help transform your accounting and bookkeeping.
I want to build my brand and not the brand of the Outsourcer.
A good outsourcer will help to build your brand. They will take time and trouble to get to know your company and the products and services that you need promoting. They will also assume your corporate identity, and introduce themselves as being part of the company – they will even have a company email address. The service should fit seamlessly into your company activity, and the prospective client will have no idea that they are not actually sitting in your offices at all.
I don’t want to lose control over the accounting function, and surely this is inevitable with Outsourcing.
Good communication lies at the heart of a good outsourcing service, and when you are in discussions, this should be one of the core issues that you should investigate. Our philosophy is that we would rather over communicate! All our clients are advised at the beginning of the project when the caller will be working and they will receive regular feedbacks by phone, email and spreadsheet to show what progress has been made in a day.
We don’t need someone full-time
One of the main advantages of Outsourced Accounting is its flexibility. You might start off needing as little as one day a week – but then you might want to launch a new project, and suddenly want a lot more resource. This can be arranged with very little notice, and reduced back down again afterwards. This kind of flexibility simply isn’t possible with staff and you certainly don’t get the correct level of skill with a temp.
Drop by at http://HiredBrains.net for the ideal solution.
Wednesday, March 10, 2010
Infertility cure
Infertility cure
Here’s a page you need to look up: http://www.siteproweb.com/lisa
Forget the Fertility Clinic and Fertility Calendar. You now have Lisa Olson’s Proven Chinese Fertility Treatment System “Pregnancy Miracle”.
Get it at a 25% Discount. Plus 5 Free Books & Free Personal Hand-holding from Lisa herself! Here’s everything you get…
The freebies contain very useful stuff on baby name suggestions, understanding the female phases, pregnancy week by week, a guide to relaxation and meal plan recipes.
Lisa herself is a Medical researcher, health consultant, nutritionist and author of the Pregnancy Miracle™ system. She was a beneficiary of the same and has hence put it out for everyone. Read more on it now… click for the infertility cure.
Avoiding money traps to create wealth
Avoiding money traps to create wealth
Denial
Denial is a trap that keeps you refusing to admit that your situation wealth-wise requires improvement. Because you do not want to acknowledge that you may be in debt or stuck in a financial rut, you will never be able to move forward. This trap can be avoided by conscious introspection that can be done only by you.
Rationalization
This refers to making excuses about your condition and convincing yourself that there must be a reason why you are not living in wealth. This psychological trap keeps you content with your situation, and I assure you, you cannot create wealth when you are happy with not being wealthy. Avoid this trap by remembering that you are worth being wealthy, and life generally is better when you are actively creating wealth.
Projection of Blame
Another psychological trap is pointing fingers at others or at your surroundings as the reason why you cannot create wealth. Blaming others convinces you that your refusal or supposed lack of opportunities for wealth creation is not your fault. You may be right, but you must get past this and take control of your life in order to avoid this trap.
Avoidance
This psychological trap works by playing with your fears and insecurities. This trap makes you keep away from taking chances for wealth creation wither because you are afraid to succeed or afraid to fail. Avoiding this trap requires you to cultivate confidence because you can never be sure unless you take the chance and begin creating your wealth.
Idealization
This refers to the mentality of “if the world was a better place” where you seem to wait for things to change before you can take the chance of creating wealth. I have witnessed the damaging effects of this money trap because it gives you a reason to procrastinate. This trap keeps you waiting for something to happen, but you may find yourself forgetting what it was you were waiting for. Avoid this trap by taking every opportunity that presents itself for creating wealth before it passes you by.
Be aware of these psychological hindrances and focus on avoiding money traps like these to create wealth. For a professional course in this discipline, drop in your details here.
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