Outsourced Accounting Service

Posted by Sam Browny on May 16th, 2019

There are many (BPO) business process outsourcing benefits. One BPO benefit is obviously the savings in labour costs. You can access offshore staff at a fraction of the normal cost with only a small reduction in the standard of quality. Sometimes the offshore staff you can access through business process outsourcing are even more talented then the people we have access to in Australia.
 
One of the BPO benefits is the filling of positions where there are actually labour hire shortages.Currently in Australia there are significant labour shortages in the areas of trades and IT. The Australian government is encouraging skilled migrants to Australia. All these jobs can not be done using offshore staff but there are aspects of every business which can benefit from business process outsourcing. For example you can use virtual assistants to complete the everyday tasks which do not require a high skills set allowing senior staff to focus on the key competencies of their business.
 
 Another business process outsourced accounting service benefit is the potential to begin new revenue branches or income streams. Once the new branch is up and running you may be able to expand and begin employing local staff. By using BPO the benefits may enable more businesses to stay above ground.  
 
Have you heard the statistics like 80% of small businesses fail in the first year and then 80% of the surviving ones fail in the next five years. Unfortunately, they are very real statistics in Australia. Building a successful business is about using your own skill strengths and employing the people who possess the skills you do not have. This formula is used by some of the most wealthy and successful business owners like Sir Richard Branson. By using the business process outsourcing benefits you have at your disposal, you are able to access the skills and talents your organisation does not have without the cash flow burden.  
 
Another major business process outsourcing benefit is to the offshore staff and their country. They are not normally working (can't say always) in the stereotypical "sweat shop". The incomes they earn are very respectable in their country and enables the offshore staff to have job security. In addition the cost of living is significantly different to developed countries such as Australia and America. In fact, in places like the Philippines they prefer to work with outsourced accounting service as they see it as prestigious and a very good career move.  
 
The BPO benefits are very significant, real and accessible for the majority of businesses. Don't let globalisation become a threat but embrace it and turn it into your competitive advantage. Darron is a partner with the business process outsourcing company 'Remote Staff'. We provide businesses the opportunity to have dedicated offshore staff ranging in positions from IT, admin, telesales, data entry and many others.