In the past decade, India has witnessed an enormous rise in its offshore accounting services with the bulk of the demand arising from the United States, Canada, and Europe. According to various estimates, India enjoys a 70% market share of the global KPO market.
With top-notch customer service, work efficiency, cost-effectivity, and skill development, India is the goldmine for skilled staff like Chartered Accountants, MBAs, Research Analysts, Finance Consultants, and Investment Consultants.
Here is why India is the best choice for offshore accounting:
- Superior Technical Support:
28% of companies outsource offshore accounting services to gain access to talent capital. India has advanced IT-support infrastructure, accounting software, and security measures to provide exceptional tax and bookkeeping services. Professionals from all over the country work together with high network connectivity and data security to provide the best accounting compliance services, making India a preferred outsourcing location as a global CPA firm.
Pro-tip: Prefer outsourcing to accounting firms in Mumbai; the city provides a large-scale skilled workforce among Indian offshore destinations.
2. Skilled Workforce:
Indians are known for their quick adaptation to foreign languages, especially English, and strong communication skills. This ensures a strong level of understanding between the two parties and maintains a clean work culture. Moreover, Indians receive rigorous academic and professional training and achieve high proficiency in the subject matter. Such enhanced quality of services is why 31% of companies outsource accounting and financial services.
Pro-tip: Choose an accounting firm fluent with modern technologies like artificial intelligence, machine learning, and advanced analytics to cater to your requirements well.
3. The Time-Zone Advantage:
The Eastern and Western sides of the world see an 11- to 13-hour difference in time zones. So, a company in the US can delegate work to an Indian firm towards the end of its work hours and get the assignment completed by the time the next US working day starts. The companies lose no time and can avail of 24*7 business consultant services at affordable rates and high-quality services.
Pro-tip: Outsourcing your company’s financial and accounting requirements will allow you more time, resources, employees, and capital to devote to your core operations, as 17% of companies do.
4. Relief from Legal Procedures:
When you outsource your accounting to Indian bookkeeping firms, you will save the time and energy otherwise spent on legal procedures, documentation updates, and regular taxation. The accounting professionals in India learn well about the rules and regulations of this domain, stay up-to-date with the latest tax and IRS policies, and handle the required documents according to the Generally Accepted Accounting Principles (GAAP) without putting you into inconvenience.
Pro-tip: Ensure that your accountants are well-aware of legal pitfalls to avoid litigation with minimum trouble.
