Benefits of Outsourcing Finance and Accounting tasks to India
Outsourcing has become popular with small and large businesses alike because of the cost savings and the ease with which work can be got done. The companies that specialize in bookkeeping and accounting services have trained personnel and practice due diligence as far as compliance is concerned. India is a favorite destination not just for IT related work, but for finance and accounting related work as well.
India – the perfect destination:
People may wonder why multinational corporations and even small businesses think of India whenever outsourcing is mentioned. India has an excellent talent pool and they also have experts in data center hosting and can design excellent software applications for securing vital financial data, thereby adding value to business. Moreover the Indian workforce is diligent in the work and takes turnaround time seriously. They often carry out the tasks with 99% accuracy, and all this at affordable costs too. Outsourcing to India is certainly loaded with innumerable benefits.
The Cost Factor:
Most of the companies already outsourcing to India know that when it comes to costs there is no other country to beat India. For people who are yet to test the Indian shores, they’ll be surprised to learn that cost savings can be in an incredible range of 40% to 50%, thanks to the vast IT savvy and highly qualified task force that can undertake the most difficult of tasks and execute them with amazing accuracy. The costs, when compared to that of the U.S. and UK are a lot more affordable.
The efficiency levels of the Indian workers are legendary. It is not mere rumors that almost 36% of NASA scientists are Indians. Moreover, when it comes to financial services there are none to beat the Indians in the quality of work, accuracy and turnaround time as well. With such high levels of efficiency, it is no wonder that India is the preferred destination for outsourcing.
Safety and Security:
Finance and accounting data can be very sensitive, hence safety and security of your data is of utmost concern. Most of the developed countries have devised fool-proof security systems and have them in place. However, there have been instances of data breach and sensitive information has been compromised. India is a nation of tech savvy IT professionals and the high-end technology ensures that your data is well protected, thanks to the servers that are well secured, as are the web-based apps.
The primary reason why India has evolved as a primary destination for outsourcing bookkeeping and accounting services among a plethora of other services is the domain expertise. India has teams of highly-skilled staff working around the clock (most companies have staff working in various international time zones). The financial analysts and highly trained management graduates (MBA’s) have through knowledge of their domains and have ready answers and solutions to the many queries that customers have. Outsourcing to India makes perfect sense, try Infognana the specialists in various domains.