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Philippines Accounting Outsourcing Is Your Best Choice For Financial Services
Philippines accounting outsourcing companies diversify to meet global market demands, ensuring their stable market share in the worldwide BPO industry. As the world battles the pandemic, the digital shift has also accelerated.
According to Business Mirror, legal services and accounting firms increased their digital operations. Outsourcing is the core driver of this. Back office and customer service are the typical outsourced services in the Philippines.
Accounting Outsourcing Philippines: Serving Global Clients
COVID-19 changed the dynamics of the global trade landscape. Medium skills such as accounting will be in demand in the years to come. Accounting is among the mid-level skills that are marketable to global clients.
Accounting is a specialized and labor-intensive task, but it is not recognized as a business’s core competency. This is because accounting is part of a business’s back-office tasks. It contributes to keeping the business running but not to its operations, which gain ROI.
Thus, it is among the back office operations that businesses choose to outsource. Accounting outsourcing enables you to have a certified accountant to manage your financial reports.
An outsourced team who knows how to keep your books balanced as they should be. All these things can be done without your firm going through the hassle of recruitment. As well as business assets like office resources.
Benefits of Accounting Outsourcing Services Philippines
Philippine BPO companies offer accounting outsourcing. Here, you can expect to avail of accounting services such as bookkeeping, payroll, and corporate finance management.
Cost Reduction
Accounting is a standardized practice. So it does not affect how your financial reports should be reflected. Even if you outsource an accountant, another thing to factor in is that in-house accountants or bookkeepers require a much higher salary grade.
Their profession and educational attainment require it. An outsourced accountant from the Philippines can provide you with the same competency. This is a cost-effective move. You can get qualified accountants with experience and knowledge at a much more affordable price.
Professional Parallels
Accounting principles in the Philippines are based on United States law. This enables a clear grasp and understanding of managing your financial records. Also, accounting courses taught in universities in the country are in English. You will speak and understand the same accounting jargon as necessary.
Maximize Accounting Software
You are not only getting an accountant or staff for your financial management. Your chosen BPO company also uses the latest accounting software, which offers better leverage.
BPO companies use this to provide better and faster service to your business. Your outsourced accounting staff is well-versed in using this software. Which your business will benefit.
Common Accounting Software For BPO Use:
- Accounting by Wave
- Intacct
- QuickBooks Enterprise
- QuickBooks Online
- QuickBooks Pro/Premier
- Xero
- NetSuite
- FreshBooks
- Kashoo
Magellan Solutions: One Of The Top BPO Accounting Companies In The Philippines
After 15 years in the BPO industry, we offer stellar accounting services tailored to your business. We are ISO 27001:2013-certified and HIPAA-compliant. Data security is our priority as we provide the service you need.
Contact us today for a free 60-minute business consultation. Fill out the form below!
