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The Pros and Cons of Outsourcing Versus Offshoring What’s the Difference? 

Mar 9, 2022

How to employ a work from home accounts staff in your business

First you must allocate any office only based duties to other staff members.

This is because your work from home accountant will not be able to do these duties whilst working remotely. Once you have done this, you can then brief your expert work from home Accountant provider- Our Accounting Division with your job specification.

What type of Accountants does Our Accounting Division provide for your business?

We provide a range of different types of Accountants for businesses, all with varying levels of experience and expertise. We provide Assistant accountants, Accounts payable and accounts receivables, finance managers, payroll managers, high level accountants and more. Check out Our Accounting Division web site for a full list of accounts staff we provide, complete with job specifications

How much will it cost to employ a work from home accountant from Our Accounting Division?

Our fees are very reasonable and, in most cases, you will only be around $3000 per month plus GST.

How can you easily employ an Australian trained work from home accountant for your business?

Once you have provided your job specification to Our Accounting Division and discussed when you would like your new accountant to start, Our Accounting Division will then provide you with a shortlist of the most suitable work from home Accountants for your business. You can interview these candidates via telephone or Skype or Teams and decide who is the most suitable for your business.

Once you have employed a work from home accountant, they will be able to do all of your usual accounting duties that you have in the job specification.

IT and Security set up

IT Security for your work from home accountant supplied by Our Accounting Division include :

-Our Accounting Division will provide your new staff member with a latest Desktop with Dual monitor setup, user logs in as OAD domain user and securely connected with OAD network with VPN.

-Your work from home accountant will have a password protected login to your accounting software.

 Or, two factor authentication is setup for all cloud application software

-All documents that are exchanged between you and your work from home accountant will be done so via a secure server. Personal laptops or desktops are not allowed to work or access data for work from home option.

-Regular backups of your accounting data will be taken by Our Accounting Division.

How to get the best from your work from home Accountant supplied by Our Accounting Division

Regular communication is key to the success of working remotely. Our Accounting Division will provide you with a dedicated supervisor as well as your work from home accountant. The Supervisor will check the work of your dedicated your work from home accountant.

They may also provide any extra training your work from home accountant may need from time to time.

-Your work from home accountant will need to be managed in the same way as any other staff member. This means setting clear deadlines and expectations from the outset.

-If possible, try to have face-to-face meetings with your work from home accountant at least once a week, even if it is just for a quick catch up via Skype or telephone. This will help to build a good working relationship.

-There may be times when your work from home accountant needs to make a judgement call on something. In these instances, it is important to trust their judgement and allow them to make the decision.

-Regular feedback should be given to your work from home accountant so that they know how they are performing.

Overall, working with a work from home accountant can be a very positive experience for both you and your business. Our Accounting Division will provide you with all the support that you need to make the transition to working remotely successfully.

How to send the work to your dedicated work from home accountant

-You will need to set up a secure server to send the work to your dedicated work from home accountant.

-You should also encrypt all the files that you are sending.

-Our Accounting Division will provide you with software which will enable you to do this.

-You should also password protect the files that you are sending.

-Once the work has been completed by your dedicated work from home accountant, they will send it back to you via the secure server.

-They will also encrypt the files before sending them back to you.

Advantages of using a work from home accountant

There are many advantages to using a work from home accountant. These include:

-They can be more cost effective than hiring a full-time in-house accountant.

-You will have access to expert accounting advice and support when you need it.

-They can offer a flexible approach to working, which can be beneficial for businesses that have fluctuating demands.

-They can provide support and advice on a range of accounting and tax issues.

-You can interview candidates via telephone or Skype before making a decision on who to employ.

-Our Accounting Division will provide you with full support and training for your work from home accountant.

Your goal should be to have your work from home accountant work autonomously

Here are some ideas of how you can get your work from home accountant to work autonomously :

-Give them specific and detailed instructions on what needs to be done.

-Be available to answer any questions they may have.

-Ensure that they have all the resources they need to do their job.

-Set clear deadlines and expectations.

-Regularly check in with them to see how they are progressing.

-Provide feedback on their work.

-Trust their judgement and allow them to make decisions.

-Our Accounting Division will provide you with full support and training for your work from home accountant.

If you follow these tips, you should find that working with a work from home accountant can be a very positive experience. Our Accounting Division will provide you with all the support that you need to make the transition to working remotely successfully.

If you are thinking of using a work from home accountant, then Our Accounting Division can help you to find the right candidate for your business. We have a team of dedicated accountants who can offer expert advice and support on a range of accounting and tax issues. Contact us today to find out more. Our Accounting Division.

Outsourcing Versus Offshoring What’s the Difference? .

Outsourcing and offshoring

Both outsourcing and offshoring have positives and negatives. Offshoring is the process of moving a company’s operations to another country, while outsourcing is contracting out specific business functions to an external supplier.To explain this simply offshoring is moving an entire department’s business operations overseas, whilst business process outsourcing is to outsource specific business activities that focus on the core activities of the department within a company. On the other hand, offshoring is performed to minimize cost. Although very similar, it is now clear that offshoring and outsourcing are two different entities of an organization’s business operations. They both serve their specific objectives and offer different values to an organization although they may do the same type of specialised skills to an organisation.
Outsourcing
Creating a relationship with a reputable Accountant BPO provider can help your business save thousands each year

Third-Party Provider

Offshoring versus outsourcing specialised skills or business processes to a third-party provider to cut the costs of certain business functions can either save a business a pack of money due to lower labor costs. Or it may result in a project failure because the third party provider received poor communication about the processes which leads to a lack of understanding of their client’s business. So make sure you clearly understand the business strategies, business needs, the core functions, services, and non core business activities of the business unit before briefing any or all third-party vendors.Both business process outsourcing and offshore outsourcing can be a great way for a company to reduce costs and save money if done correctly.Always make sure your Third part party provider’s hiring process includes a good onboarding process that mirrors your own in-house team’s training program.Not all external providers are the same. You need to consider the expertise of each provider and then assess the pros and cons of what best suits your long-term business objectives.

Offshore outsourcing advantages :

  • A reduction in labour costs right across the board. When you move the core business operations to another country each business unit will reduce costs straight away.
  • Because operational costs are reduced by offshore outsourcing more human resources can be used for the same cost. Having more human resources results in a reduction in the time it takes to get products to market.
Outsourcing Versus Offshoring What's the Difference? 
There are many benefits to outsourcing members of your accounts department
Here are some benefits of outsourcingMany companies or multinational corporations outsource specialised skills or knowledge not available internally: When you outsource a process in your business, you have access to skills and knowledge that may not be available inside your company. For example, if you need to create a costings and cash flow analysis of a new division within your business you could hire an Accountant from Our Accounting Division to create a full analysis of whether the new idea can be profitable.

Reduced costs

(e.g., labour, facilities, equipment) compared to maintaining an in-house operation: Outsourcing can be a more cost-effective way to get specific work done than hiring and training employees in-house. For example, you might outsource your payroll processing to a company that specialises in that area rather than hiring a full-time employee to do it in-house.
Reduced Costs
Outsourcing Accountants for your business reduces costs and showers your business with extra cash

Access to new markets

Many companies outsource business processes, but the benefits of outsourcing don’t stop there. you can often tap into new markets that your company wouldn’t have access to otherwise. For example, if you outsource your entire Accounts department using Our Accounting Division from Sydney Australia with an office in India, you could reach customers in that country that you wouldn’t be able to reach otherwise.
Access to New Markets
Your offshore accountant can also give you access to the market they live in

The ability to tap into new skills and knowledge

Outsourcing can also give you access to new skills and knowledge that you wouldn’t have access to otherwise. For example, if you outsource your Accounts work to Bangalore you can use your accountant to access new markets or skillsets that are hard to find in Australia.

Greater efficiency through process standardisation

When you outsource a business process, you can often achieve greater efficiency through standardization. For example, if you outsource your payroll processing to a company that uses a standardized process, there will be less room for error than if you did it in-house.

Improved scalability

If your business is growing, you may find that outsourcing certain processes can help you keep up with the increased demand. For example, if you outsource your order fulfillment operations to a company that has excess capacity, they can help you meet the needs of your business as it grows.The following are some of the key factors to consider when making this decision:

Cost

Offshoring can be cheaper than outsourcing, as it typically involves moving entire operations to a lower-cost location. However, the cost savings may not be as significant as initially thought, as factors such as transportation and communication costs can offset the savings from labour costs.

Quality

it is important to ensure that the quality of the work being done is not compromised when offshoring or outsourcing. This can be done by selecting a reputable supplier and putting in place stringent quality controls.

Control

When offshoring, a company loses some control over its operations as they are now in another country. This can be a disadvantage if the company is not comfortable with relinquishing control. On the other hand, outsourcing allows a company to maintain control over its operations while still benefiting from the cost savings and expertise of the supplier.

Risk

There is always some risk associated with offshoring and outsourcing, As the supplier may not meet expectations, or the company may encounter political or economic instability in the destination country. It is important to weigh up the risks and benefits of each option before deciding.

So, which is better: outsourcing or offshoring?

The answer depends on your specific needs and business situation. Outsourcing is a good option if you want to maintain control over your operations while benefiting from the cost savings and expertise of a supplier. Offshoring is a good option if you are looking for cheaper labour costs and don’t mind relinquishing some control over your operations. It is important to weigh up all the pros and cons before making a decision. Whichever choice you make companies outsource to cut costs and save money. This can only happen if you research both options properly and choose a reputable outsourcing and offshoring providerThank you for reading this blog. We hope this article has helped you decide whether outsourcing and offshoring your business functions is the right choice for you.To find out more about out outsourcing any member of your Accounting team, please call Philip McLeod at Our Accounting Division on 0408 19 63 46. We can show you how Outsourced Accounts staff solution is so advanced with our systems and processes when you hire a new remote employee with us working with them feels like they are in the next room.
Contact Details
Our Accounting Division contact details to hire your own offshore accountant
Working from Home statistics 2021

Working from Home statistics 2021

Sources : https://www.pc.gov.au/research/completed/working-from-home/working-from-home.pdfHow many people are working from home since the pandemic?       The world has changed as we knew it before. The pandemic has changed the lives of every person on...

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