The primary reason for outsourcing any service is cost savings. For companies that outsource services to a third party in an emerging market, labor arbitrage drives down costs even further.
For small and medium-sized businesses with limited resources, outsourcing non-core services may be necessary. Few startups can afford full-time accountants or finance consultants to crunch numbers. Even for sole proprietorships, accounting is a labor-intensive task that can take focus away from more important activities. For accounting firms themselves, they can often no longer compete in their local markets without outsourcing some portion of their work.
Improve business efficiency
Most big companies outsource finance and accounting to increase business efficiency within a department or across the company. Smaller companies can reap similar benefits when they partner with third parties that have powerful analytics, tools and domain expertise. Enhanced financial information can help small businesses control budgets and better understand spending.
Offshoring Finance and Accounting to the Philippines
Offshore outsourcing of finance and accounting functions to the Philippines is an excellent solution for small and medium-sized businesses with tight budgets and also for accounting firms looking to trim costs. Finance consultants and accounting professionals in the Philippines can provide the same high-quality service as local staff but at a fraction of the cost.
We offer custom, scalable solutions regardless of industry or company size. Companies can start small by choosing to hire one professional to handle general accounting, or build a team of accountants with less risk and lower costs.