Corporate companies that show magnificent growth based on one sole factor that is they kept a tight hold on their numbers. Bookkeeping pays a key role is holding systematic functioning of the entire organization. The cleaner your accounts are the more accurate all your decisions will be, it’s as simple as that. With increasing pay hikes and an aging staff, one that’s too rigid to train and upgrade to newer accounting methods makes you fall a step back while competing in the market as a player. Most companies found this the prime reason to outsource their bookkeeping to a third party.
However every decisions comes with its pitfalls and advantages. Let’s look at the Pros and Cons of Bookkeeping outsourcing services more closely.
Time:
While your in-house time works in a fixed shift, Bookkeeping outsourcing services gives your financial statement 24*7. With IBN’s round the clock operation it has become an added advantage for companies that wish to operate from multiple locations.
Cost:
The cost of Outsourcing is any day much cheaper as there is a constant increase in Wage rates as well as allowances to in house staff such as medical. And lets not forget the overhead costs that come included when you invest heavily in infrastructure. IBN’s team has been known for providing Bookkeeping services at one third the costs.
Technology:
Majority of companies have migrated from desktop version of bookkeeping to cloud software’s such as Xero; to be able to access data anywhere anytime. Yet there are companies that are apprehensive in shifting their accounting with the fear of loss of Data. IBN Technologies Limited houses a certified expert team that assists in migrating the data from one software to another.
Security:
Data Security proves to a major threat to business owners. No one in this time and age can afford to lose their data to competitors. However with advent of cloud technology, IBNs Bookkeeping professionals will process your accounting books without data ever leaving the premises of your office.
Expert Services:
While sometimes companies may hire people with less experience as its cost prohibitive, Outsourcing to IBN would mean gaining access to sound financial advice from industry players who are well aware of current economy and have more than 16 years of experience while dealing with various financial situations.
