January 13, 2021
Since the inception of the outsourcing concept among businesses around the world, India has been one of the major players when it comes to providing skilled professionals. With the boom in IT sectors in India, things have changed very rapidly. Now, India is one of the top countries that export software and tech support to businesses in many countries and the prime reason for this is the large pool of skilled and talented professionals that India produces every year. The other reason is the surprisingly competitive rates at which you can avail of the services of a highly qualified and experienced workforce.
Now, let’s talk about accounts outsourcing. In the last decades, like the IT sector, the accounting firms and accountants have also established that Outsourcing to India is an ideal solution for their business growth needs. They are benefiting a lot by working with the accounting outsourcing service providers in India.
So, the question is, why more and more accountants are outsourcing their work to India? In this article, we have covered all the key advantages that you can avail of if you choose India as your outsourcing destination.
Huge pool of qualified and experienced workforce
It is a huge factor that helped Indian outsourcing accounting firms. India is a country with more than 1.3 billion people, where every year produced a large number of qualified accountants. Over the years, Indians have already proven how good are they with Accounts. Therefore, accounts and tax being sensitive matters. Most of the UK accountants prefer Outsourcing to India. With years of experience, the Indian accounting and tax professionals can guarantee a high level of accuracy, which is a must if you want to save the reviewing minutes after you receive the jobs at your end, and this saves your time. You can work on things that you love to do, like marketing plans to fetch more clients and build your business.
Significant cost reduction
In this age of stiff competition where every business is trying to trim down their expenses, outsourcing of services becomes an ideal solution. If you choose India, then you get qualified people at a fraction of your costs. Due to the exchange rate difference between the INR and GBP, outsourcing to India is always a smart decision as you will never want to compromise with the quality of work to save some more pounds. The cost of hiring accounts and tax experts is much less in India compared to the UK and quality work delivered on time at a small fraction of your actual cost.
Time Difference between India and the UK, this also adds value
When it comes to accounting and tax returns outsourcing, a quick turnaround time is very important. Both the HMRC and your clients’ given deadlines are crucial and you must meet these deadlines to make sure that clients are happy & they don’t get any penalty letters from the HMRC. The 4.5 hours of the time difference between India and the UK give us some extra hours to communicate and work. Particularly during the last minutes of accounts, Corporation and Self-assessment deadlines, this time difference helps a lot.
Comprehensive data security and safety
Accounts and tax matters are always confidential. Therefore, we must make sure of the safety and security of clients’ data. Lately, the UK government has made it very clear that they are very much serious about data safety and privacy. Infringement of General Data Protection Regulation may attract a maximum penalty up to €20 million (about £18 million), or up to 4% of the annual global turnover of the previous financial year, whichever is high, but there is nothing to worry about; your GDPR compliant Indian outsourced accounting firm can eliminate these concerns. So, before signing up, you must ensure that your outsourcing partner is GDPR compliant and has required ISO standards. Additionally, you can ask them to sign a non-disclosure agreement as well.
How Doshi Outsourcing - can help with a Seamless Transition if you are new to Outsourcing?
With more than two decades of experience in UK accounts and Tax, Doshi is your ideal outsourcing partner (outsourcing to India). We are serving more than three thousand UK Businesses and more than 100 Accounting Firms.
Thanks to our qualified, skilled, experienced staff, advanced technology and tools, the process is quick and easy. Mainly there are three methods viz. remote access, on the secure FTP server and in a cloud-based system. Our IT personnel will set it for you within a few minutes.