Outsourcing accounting and audit functions is a viable option for accountancy companies looking to reduce costs, increase efficiency, and access a wider talent pool – without sacrificing the quality of service expected.
Here are some helpful tips on how to manage an outsourcing accounting and auditing partner:
It sounds very basic, but it is a key tenet for the future success of your business. Your ideal outsourcing partner should have a solid reputation in the industry and a proven track record of providing high-quality accounting and audit services. Consider factors such as the outsourcing partner’s experience, expertise, and the range of services they offer.
Clearly define your expectations regarding the scope of work, timelines, deliverables, and quality standards. This will help ensure your outsourcing partner understands your requirements and can deliver accordingly.
Communication is key to successful outsourcing. Establish clear communication channels, including regular meetings, phone calls or platforms such as Teams / Slack to keep your dedicated outsourcing team member connected. If your requirements change, you should expect a dedicated account manager to help you work through the changes. This account manager will be able to quickly assess your needs and match these to a resource, ensuring you get the best return on investment.
Clearly define the roles and responsibilities of your team and align this to your outsourcing team member. This will avoid confusion and ensure that everyone understands their respective responsibilities.
Regularly monitor performance against agreed-upon metrics such as quality, timeliness, and cost. This will help you identify any issues early on and take corrective action if necessary. If you have a dedicated account manager, monthly check-in meetings should be arranged to discuss progress as the project matures.
Data security is a critical aspect of outsourcing accounting and audit services. Ensure that the outsourcing partner has robust data security policies and procedures in place to protect your confidential financial data. The best organisations will have an ISO:27001 certification.
Outsourcing accounting or audit services can be a dynamic process, with constantly changing requirements and priorities. Ensure your outsourcing partner is open to this flexible requirement and will make adjustments and changes as necessary to ensure that you get the best possible results.
– Specialising in Accounting and Auditing Services
Teams PLUS is an Irish outsourcing company, specialising in accounting and auditing services. We match your needs with qualified and experienced team members, sourced specifically for you and based in our state-of-the-art office in India. With robust security protocols, ISO certification and fully GDPR compliant, the integrity of your data is always assured.
We differ from bench outsourcing models, in that our members work exclusively with you, as an extension of your local team. This means you get the work you want delivered the way you want it. Experienced and highly qualified, they hit the ground running and you are guaranteed quality work, continuity of service and the ability to scale your business without the cost and commitment of hiring permanent staff.
Get in touch with us to find out more about outsourcing and how it can help your business. No obligation. Simply contact us and we can arrange a call at a time that suits you.
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