Outsourcing is when you hire a different company to provide services at a lower cost. Taking the concept to further levels, finance outsourcing is when you hire an accounting practice to run your financial and accounting functions for you.
Talking about finance & accounting outsourcing, whether you deal in manufacturing of plastic, fabrication of metal sheets or cleaning on commercial level even if it is any kind of online business, your company has to manage its books.
The Outsourced Accountant is your perfect resource to solve all your accounting needs. The question is how? From some time now, there is a general trend to outsource non-core operations to service companies to other countries where they can find cheap labor.
In recent times, there has been a significant increase in offshoring accounting services. These services range from simple tasks like accounts receivable outsourcing and Outsourcing accounts payable to complex tasks like payroll and share option schemes.