| There is a myth that efficiency and | | | | |
| profitably of offshore business can only be | | | | Extensive IT integration is required in |
| seen in big business. But that's not true. | | | | outsourcing - this was a misconception.. the |
| Today small business organizations are taking | | | | offshore vendors only require just server and |
| to outsourcing to increase their business | | | | Internet connectivity is sufficient to |
| efficiency and profitability. With IT based | | | | procure value-added services. The outsourced |
| transaction processing has expanded to | | | | service provider can use Remote Server model |
| accounting, HR management, public relations | | | | to access client's computer securely to |
| consultancy, financial services etc, | | | | perform services like Accounts. In case of |
| outsourcing today is the latest tool for | | | | Secure File Transfer all the accounting |
| transformation of any conceivable business | | | | records are transferred securely from |
| process. Small businesses are still not sure | | | | customer's computer to the outsource vendor |
| whether offshore vendors can really create | | | | to perform the work. Then the vendors upload |
| value for their company. | | | | the files back into customer's computer |
| | | | securely. The technology for outsourcing is |
| Myth: Outsourcing is only and only for Big | | | | changing day by day as concept of offshore is |
| Business only | | | | increasing everyday. A IDC study entitled US |
| | | | Finance and Accounting Outsourcing Market |
| Reality: that's not true. It has equal value | | | | Forecast and Analysis 2003-2008 has predicted |
| in Business | | | | that the global market for finance and |
| | | | accounting outsourcing services, which |
| There is a myth that business with abundant | | | | reached over $30 billion in 2003, will reach |
| wealth can get good return from account | | | | $47.6 billion in 2008. |
| outsourcing. But the fact is this is | | | | |
| absolutely wrong. Small business can also get | | | | Myth: Accounting Outsourcing is not reliable |
| good return. In today's fiercely competitive | | | | |
| industry, every thing your save whether it is | | | | Reality: False. The services are 100% |
| wealth or time is very important for your | | | | Reliable |
| business. India, China, Philippians are the | | | | |
| front runner in the offshore vendors. Here | | | | There is no chance of unauthorized use of |
| you get quality service in fewer prices than | | | | your resource. . Through secure FTP software, |
| the money required to do it in the country of | | | | offshore units transfer all the documents |
| origin. | | | | securely into the client server. Using |
| | | | customer specified accounting software, they |
| Myth: Only Transaction Processing can be | | | | perform all the work and export the finished |
| outsourced but Accounting BPO. | | | | accounting files back in to customer's server |
| | | | securely. . Small business outsourced |
| Reality: False. Almost all Non-core Business | | | | accounting services do not ordinarily involve |
| Activities like Accounting BPO can be | | | | handling of business critical data. Even if |
| outsourced | | | | they are there, a reliable service provider |
| | | | with proven experience and credentials can |
| High-end technology platforms were used by | | | | handle the assignment with trust and |
| big business in last decade for outsourcing. | | | | confidentiality to secure efficiency and cost |
| Now every thing has technology. Big and small | | | | saving for small business units. |
| companies routinely outsource their work to | | | | |
| cost-effective destinations like India. In | | | | Myth: Accounting BPO cuts jobs, indirectly |
| last few years accounting has taken a | | | | harming economy of outsourcing country |
| tremendous growth. . Companies with a | | | | |
| full-time bookkeeper can save about $30,000 a | | | | Reality: False. It promotes Growth and |
| year by using outsourced bookkeeping services | | | | Efficiency |
| to highly competent service providers in | | | | |
| India. | | | | Small business outsourcing accounting |
| | | | services is a major budget-balancing act and |
| Myth: Complex IT integration is needed in | | | | a must-consider option for increasing |
| Accounting Outsourcing | | | | business returns and lowering process time. |
| | | | The efficiency gained through fast and less |
| Reality: False. Just a Server and Internet | | | | expensive outturn makes end-price |
| Connectivity is enough | | | | competitive. |