6 reasons to choose outsourcing
Today's article is about the reasons for choosing outsourcing services:
1. Assistance in preparing IFRS statements
To attract investment, obtain loans and quotes on stock exchanges, it is still necessary to regularly prepare reports in accordance with IFRS. In addition to this, this type of reporting allows business leaders and investors to receive operational information about the state of the business and determine key performance indicators. Outsourcing allows you to get qualified assistance in the implementation of accounting and reporting in accordance with IFRS. First of all, it concerns the preparation of reporting, its consolidation and the development of a transition methodology.
2. Solving issues related to the tax burden
Since 2011, savings has become one of the most important drivers of outsourcing market development. Hiring specialists in large cities with a high standard of living has become costlier. As a result, companies that had not previously resorted to outsourcing began to think about the possibility of optimizing their costs.
3. Reducing the number of errors
However, not only contributions to funds for employees have increased, but also fines for errors and violation of reporting deadlines. Therefore, many companies began to perceive outsourcing as a way to protect themselves from tax risks, as well as the danger of leakage of accounting information.
4. Increasing employee loyalty
It is curious that today more and more companies use outsourcing services not only for maintaining the main accounting processes and interacting with external organizations (Tax Service, Pension Fund, Customs Service, Prosecutor's Office, etc.), but also for communication with their employees. Therefore, clients are more likely to receive requests to create "personal accounts" for their employees, in which they can track payroll and bonuses, work with their schedule, and plan vacations.
5. Possibility of controlling processes in stricter way
Definitely the clients has become more demanding and informed. If earlier some customers did not even know that the contract with the service provider is accompanied by additional agreements, today most companies require personalized SLAs. It prescribes individual metrics, such as response times to requests, a clear division of responsibility, as well as parameters for the prompt termination of the contract.
6. “The more processes I transferred, the more I save”
This principle has served as the main factor in the growing interest of customers in the complex services of external providers. In particular, those clients who already use payroll often outsource areas such as the client bank, advance payments and IFRS reporting to optimize costs.
Today's article is about the reasons for choosing outsourcing services:
1. Assistance in preparing IFRS statements
To attract investment, obtain loans and quotes on stock exchanges, it is still necessary to regularly prepare reports in accordance with IFRS. In addition to this, this type of reporting allows business leaders and investors to receive operational information about the state of the business and determine key performance indicators. Outsourcing allows you to get qualified assistance in the implementation of accounting and reporting in accordance with IFRS. First of all, it concerns the preparation of reporting, its consolidation and the development of a transition methodology.
2. Solving issues related to the tax burden
Since 2011, savings has become one of the most important drivers of outsourcing market development. Hiring specialists in large cities with a high standard of living has become costlier. As a result, companies that had not previously resorted to outsourcing began to think about the possibility of optimizing their costs.
3. Reducing the number of errors
However, not only contributions to funds for employees have increased, but also fines for errors and violation of reporting deadlines. Therefore, many companies began to perceive outsourcing as a way to protect themselves from tax risks, as well as the danger of leakage of accounting information.
4. Increasing employee loyalty
It is curious that today more and more companies use outsourcing services not only for maintaining the main accounting processes and interacting with external organizations (Tax Service, Pension Fund, Customs Service, Prosecutor's Office, etc.), but also for communication with their employees. Therefore, clients are more likely to receive requests to create "personal accounts" for their employees, in which they can track payroll and bonuses, work with their schedule, and plan vacations.
5. Possibility of controlling processes in stricter way
Definitely the clients has become more demanding and informed. If earlier some customers did not even know that the contract with the service provider is accompanied by additional agreements, today most companies require personalized SLAs. It prescribes individual metrics, such as response times to requests, a clear division of responsibility, as well as parameters for the prompt termination of the contract.
6. “The more processes I transferred, the more I save”
This principle has served as the main factor in the growing interest of customers in the complex services of external providers. In particular, those clients who already use payroll often outsource areas such as the client bank, advance payments and IFRS reporting to optimize costs.
