In an era where businesses are constantly seeking efficiency and cost-effectiveness, outsourcing accounting services has become a popular choice. However, with this trend comes the responsibility of selecting a trustworthy partner that aligns with ethical standards. In fact, Deloitte’s Global Boardroom’s Frontier Survey reports that 94% of surveyed CEO’s claimed stakeholder trust is extremely important to them [1].

As businesses explore accounting outsourcing, they face a key question: How can they make sure their chosen partner not only meets operational needs but also follows high ethical standards? This question is especially important in an industry where financial data isn’t just sensitive; it’s vital to daily business operations. 

The accounting industry, with its complex rules and constant changes, requires a high level of trust and openness that goes beyond regular business partnerships. It demands a strong commitment to ethical practices, making the outsourcing partner an integral part of the client’s financial integrity. Keep in mind throughout this article that the goal isn’t just to find a vendor, but to build a trusting relationship based on shared values.

In this article, we will delve into 6 crucial benchmarks to help businesses effectively vet an ethical accounting outsourcing partner.

6 Benchmarks to Vet Ethical Accounting Outsourcing Partners

As businesses navigate the world of accounting outsourcing, it’s clear that a one-size-fits-all approach won’t cut it. The benchmarks we’ll discuss are tailored to the specific challenges and expectations of the accounting industry. Our goal is to help businesses make smart, informed choices when selecting an ethical accounting outsourcing partner. 

Let’s dive into these benchmarks and empower businesses to make the right decisions.

Regulatory Compliance and Certification

The accounting industry is governed by a myriad of regulations designed to ensure transparency and accountability. A reputable outsourcing partner should demonstrate unwavering commitment to compliance with these regulations. Begin by verifying whether the outsourcing company holds relevant certifications such as ISO 27001 for information security management or SSAE 18 (formerly SAS 70) for internal controls.

In a survey probing risk and compliance professionals about their recent compliance challenges, 19% cited instances of legal or regulatory actions initiated against their organizations by governing bodies when reflecting on the past three years. What’s key here is that this emerged as the third most frequently reported compliance issue [2].

These certifications are indicative of a commitment to maintaining the highest ethical standards and can provide businesses with confidence that their financial data will be handled with the utmost care. In the accounting outsourcing context, where data confidentiality is paramount, ensuring regulatory compliance serves as the foundation for a trustworthy partnership.

Reputation and Client Testimonials

The reputation of an accounting outsourcing partner can be a reliable gauge of its ethical standards. Look for client testimonials and reviews to gain insights into the experiences of other businesses that have engaged the services. A company with a positive track record is more likely to prioritize ethical considerations, as client satisfaction often stems from a combination of competence and integrity.

In the accounting industry, where trust is pivotal, an outsourcing partner with a strong reputation is more likely to uphold ethical standards. Scrutinize online reviews, seek recommendations from industry peers, and assess the outsourcing company’s history of client relationships to make an informed decision.

Data Security Protocols

According to data from Statista, 34% of risk management experts identified cyber incidents, including cybercrime and data breaches, as the foremost risk to businesses worldwide in 2023 [3].

Accounting outsourcing involves the handling of sensitive financial information, making data security a paramount concern. Evaluate the outsourcing partner’s data security protocols, ensuring they employ encryption technologies, secure data transmission channels, and robust access controls. A commitment to safeguarding client data demonstrates an ethical approach to the responsibility entrusted to them.

In the accounting industry, where breaches can have severe consequences, businesses must prioritize a partner with stringent data security measures. Conduct a thorough review of the outsourcing company’s data protection policies, and inquire about their disaster recovery plans to ensure business continuity in the face of unforeseen events.

Employee Training and Ethical Standards

The Barclays banking study on retail transformation reports that on average, companies allocate approximately 11% of their revenue to enhance their ethical credentials [4].

The backbone of any outsourcing company is its workforce. Assess the outsourcing partner’s commitment to maintaining high ethical standards among its employees. In the accounting industry, where professionalism is paramount, an ethical outsourcing partner ensures that its staff is well-trained, educated on industry regulations, and equipped to handle confidential information responsibly.

Inquire about the hiring and training processes of the outsourcing company. A commitment to ongoing professional development and ethical training for employees is a positive indicator. In the accounting outsourcing context, where personnel directly handle financial data, the ethical conduct of employees is integral to the overall integrity of the service.

Transparency in Processes and Pricing

Did you know that on average, consumers are willing to pay an additional 4.55% for products with ethical considerations [5]. Transparency is a key element of ethical business practices, particularly in the accounting industry. Evaluate the outsourcing partner’s commitment to transparency in its processes and pricing structures. Clear communication about how financial processes are managed and how fees are structured demonstrates a commitment to ethical conduct.

In the accounting outsourcing landscape, where complex financial transactions and regulatory adherence are crucial, businesses need a partner that provides transparent insights into their operations. This transparency builds trust and confidence, allowing businesses to make informed decisions about their financial outsourcing needs.

Flexibility and Scalability

An ethical accounting outsourcing partner should be flexible and scalable to meet the evolving needs of its clients. Assess the outsourcing company’s ability to adapt to changes in business requirements and scale operations seamlessly. A partner that is committed to long-term relationships and can accommodate growth or changes in scope demonstrates ethical business practices.

In the accounting industry, where regulatory changes and business dynamics are frequent, flexibility and scalability are vital. A partner that prioritizes client success over short-term gains is more likely to align with ethical standards, as they understand the importance of adapting to the evolving needs of their clients.

Conclusion

Selecting an ethical accounting outsourcing partner is a critical decision for businesses looking to streamline their financial processes. By benchmarking potential partners against these six key indicators businesses can ensure they align with a partner that not only meets their operational needs but also upholds the ethical standards expected in the accounting industry. In an era where trust and integrity are non-negotiable, businesses must prioritize ethical considerations to forge lasting and successful partnerships with their accounting outsourcing providers.

Expert Opinion

Trust is at the heart of any accountancy relationship. People buy from people they trust, so choosing an outsourcing partner that exudes professionalism and ethics is paramount. You are trusting them with important records and information, so its imperative they provide the degree of trust you require for your business needs.

With our strong brand identity, commitment to community work with Rhythm of Life, and sustainable practices, we believe our clients understand and buy into our reliability and trust.

Bibliography

1. https://www2.deloitte.com/uk/en/insights/topics/leadership/build-nurture-measure-stakeholder-trust.html
2. https://www.navex.com/en-us/resources/benchmarking-reports/state-risk-compliance/
3. https://www.statista.com/statistics/422171/leading-business-risks-globally/
4. https://www.barclayscorporate.com/content/dam/barclayscorporate-com/documents/insights/industry-expertise/Reshaping-retail.pdf 
5. https://www.barclayscorporate.com/content/dam/barclayscorporate-com/documents/insights/industry-expertise/Reshaping-retail.pdf 

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

Misconceptions, in any walk of life, let alone in the world of finance and accounting, can be costly. They can lead to missed opportunities, stifled growth, and unnecessary burdens on your bottom line. When it comes to accounting and bookkeeping services, these misconceptions often center around outsourcing. Many businesses, both small and large, harbor doubts and myths that could prevent them from tapping into the transformative potential of accounting outsourcing.

Picture this, Judith, a small business owner, hesitates to outsource her accounting needs due to the belief that it’s a service meant only for corporate giants. She thinks that her business is too small to benefit or that outsourcing will compromise her control over financial matters. Little does Jane know that these myths, if left unchallenged, can hold her business back from achieving financial efficiency, cost savings, and the opportunity to focus on strategic growth.

7 Myths around Accounting Outsourcing Debunked

In this article, we’ll delve deep into the misconceptions that surround accounting outsourcing, revealing the truth behind each one. By the end, you’ll have a clear understanding of the immense value that outsourcing can bring to your business, irrespective of its size, and how debunking these myths can be the first step towards financial liberation.

Myth 1: Accounting Outsourcing is Only for Large Corporations

Misconception: Many businesses believe that accounting outsourcing services are primarily designed for large corporations with extensive financial needs. They assume that small and medium-sized enterprises (SMEs) wouldn’t benefit from outsourcing because their financial requirements are less complex.

Reality: This misconception can lead SMEs to miss out on the numerous advantages of outsourcing. SMEs often have limited resources and might not have the budget to hire a full-time in-house accountant or financial team. By outsourcing, they can access the expertise of experienced professionals without the hefty salary and benefit costs. These external experts can help SMEs manage their finances efficiently, allowing them to focus on core business activities and growth strategies. In fact, numbers spell out that nearly a quarter of small businesses leverage outsourcing solely for the purpose of improving efficiency.

Action point: Reevaluate your business needs. Don’t discount outsourcing based on size alone; consider tailored solutions that can save costs and boost efficiency. Outsourcing is not reserved solely for large corporations; it can be adapted to your specific needs. Consider a personalized outsourcing plan that aligns with your budget and goals.

Myth 2: Outsourcing Leads to Loss of Authority and Control

Misconception: Many businesses fear that outsourcing their accounting functions means relinquishing control over their financial data and processes. They worry that external service providers may not fully understand their business operations or adhere to their specific standards and requirements.

Reality: This misconception can hinder businesses from considering outsourcing as a viable option. In reality, reputable outsourcing providers work closely with their clients to establish clear communication channels and guidelines. They tailor their services to meet the unique needs of each business, ensuring that the client retains control over critical financial decisions. Moreover, outsourcing providers often employ state-of-the-art software and technologies that enhance transparency and visibility, allowing businesses to monitor and oversee their financial processes more effectively.

Click here to read our article on How Accounting Outsourcing Firms can Attract and Retain Top Talent.

Action point: Establish clear communication with your outsourcing partner. Maintain transparency and set expectations to ensure you retain control over crucial financial decisions. Clearly define roles, responsibilities, and expectations with your outsourcing partner. Regular updates and open dialogue allow you to stay in control of important financial decisions while benefiting from external expertise.

Myth 3: Accounting Outsourcing is Expensive

Misconception: Many businesses believe that outsourcing accounting services is costly, assuming that hiring an in-house accountant or financial team is a more budget-friendly option.

Reality: In the real world, the costs associated with in-house hiring can be significantly higher than outsourcing. When you hire in-house, you need to consider not only the salaries of employees but also the costs of training, benefits, office space, and equipment. On the other hand, outsourcing allows businesses to pay only for the services they need, making it a flexible and cost-effective solution. This means you can scale up or down your accounting services as your business requirements change, optimizing your costs over time. To that end, research suggests that businesses can cut down on up to 50% of operational costs by leveraging outsourced accounting services [2].

Click here to read our article on 4 ways Outsourcing Accounts to India will save you money.

Action point: Calculate total costs. Compare the expenses of in-house hiring with outsourcing; you may find cost savings with the latter, offering flexibility without compromising quality. Calculate the total cost of hiring in-house staff, including salaries, benefits, office space, and equipment. Compare this with the costs of outsourcing, which often offers a more budget-friendly option.

Myth 4: Outsourced Accounting is Prone to Errors

Misconception: Some businesses worry that outsourcing accounting tasks increases the risk of errors and inaccuracies in financial reporting. They believe that external service providers might not be as meticulous as their in-house teams.

Reality: In reality, reputable outsourcing firms prioritize accuracy and reliability. They employ professionals with expertise in accounting standards and practices and often utilize advanced software to minimize errors. Additionally, outsourcing providers conduct regular quality checks and audits to ensure data integrity. This means that outsourcing can actually lead to more accurate financial reporting, as it benefits from specialized expertise and rigorous quality control measures.

Click here to read our article on 5 Reasons Why India’s Workforce is specialised in Outsourced accounting.

Action point: Research your outsourcing provider. Opt for reputable firms with stringent quality control measures and skilled professionals to minimize the risk of errors. Research potential providers, checking for their reputation, track record, and client reviews. Reputable firms prioritize accuracy through quality control measures and employ experienced professionals who understand accounting standards.

Myth 5: Outsourcing is Only for Routine Tasks

Misconception: It’s common for businesses to believe that accounting outsourcing is primarily suitable for handling routine and repetitive tasks, such as data entry and invoice processing. They may think that critical financial decisions and strategic planning should remain in-house.

Reality: In practice, outsourcing covers a broad spectrum of financial functions, from routine tasks to high-level financial analysis and strategic planning. Many outsourcing providers offer customized solutions tailored to their clients’ specific needs. This allows businesses to outsource routine tasks for efficiency while also gaining access to expert insights and strategic guidance. Outsourcing can be a holistic approach that supports all aspects of financial management, helping businesses make informed decisions and drive growth. To put things, into perspective, among all services, 37% of accounting tasks are outsourced, jointly topping the percentage of services outsourced along with IT tasks [3].

Click here to read our article on 4 Ways Outsourcing Accounting Can Save you Time.

Action point: Explore customized outsourcing. Utilize a mix of routine task outsourcing and high-level financial analysis to enhance efficiency and gain expert insights. Consider a customized outsourcing strategy that includes a mix of routine tasks and higher-level financial analysis. This approach allows you to optimize efficiency by outsourcing repetitive work while gaining access to expert insights and strategic guidance for more informed decision-making.

Myth 6: Outsourcing Jeopardizes Data Security

Misconception: Concerns about data security often prevent businesses from considering accounting outsourcing. They worry that outsourcing exposes their sensitive financial information to the risk of data breaches and unauthorized access.

Reality: Reputable outsourcing providers take data security seriously and implement robust security measures. These measures include encryption of sensitive data, secure servers, and strict access controls. Furthermore, outsourcing firms typically enter into confidentiality agreements to protect their clients’ financial information. By doing so, they ensure that your data remains confidential, secure, and safeguarded against unauthorized access or data breaches.

Click here to read our article on Future Proof your Accountancy Firm through offshoring and AI.

Action point: Prioritize security checks. Choose outsourcing partners who implement robust security measures, including encryption and confidentiality agreements, to safeguard your data. Select outsourcing partners that prioritize data security. Ensure they employ encryption methods, secure servers, and strict access controls. Additionally, insist on confidentiality agreements to safeguard your financial information.

Myth 7: Outsourcing is a Short-Term Solution

Misconception: Some businesses view accounting outsourcing as a short-term solution to address immediate accounting challenges. They believe that once their financial situation stabilizes or grows, they can bring these functions back in-house.

Reality: The fact is, that accounting outsourcing can be a long-term strategic decision that provides ongoing benefits. Businesses often continue to outsource even as they grow because it allows them to focus on their core competencies while leaving financial matters in the hands of experts. The scalability of outsourcing makes it adaptable to changing business needs, ensuring that it remains a valuable solution over time. Rather than being a temporary fix, outsourcing can be a key component of a company’s long-term financial strategy.

Action point: Think long-term. View outsourcing as a strategic decision adaptable to your evolving business needs, enabling you to focus on growth and core competencies. Shift your perspective and consider outsourcing as a long-term strategy. It’s not just a quick fix for immediate challenges. By doing so, you can concentrate on your core competencies and long-term growth while leaving financial matters in the hands of experts.

Conclusion

Dispelling these myths and misconceptions surrounding accounting outsourcing services is essential for businesses to make informed decisions. Outsourcing offers a wide range of benefits, including cost-effectiveness, accuracy, flexibility, and access to specialized expertise. By understanding the reality behind these myths, businesses of all sizes can harness the power of outsourcing to optimize their financial processes and drive growth.

So, before you dismiss the idea of accounting outsourcing, consider this: embracing the truth can lead to tangible benefits—increased efficiency, reduced costs, improved accuracy, and enhanced strategic decision-making. It can free up your time and resources, allowing you to focus on what truly matters—growing your business. Don’t let misconceptions hold you back. Embrace the reality of accounting outsourcing and unlock the potential for growth, profitability, and financial success. The future of your business may just depend on it.

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

The business landscape today is a highly competitive one and companies are constantly seeking ways to enhance efficiency, reduce operational costs, and focus on their core competencies. One strategic move that has gained immense popularity is outsourcing accounting services. Accounting is an integral part of any organization’s finance function, and research reveals that 71% of financial executives get at least one or more services outsourced.

Outsourcing eliminates the need for businesses to invest in hiring and training in-house accounting staff, purchase software, and maintain office infrastructure. This translates into substantial cost savings. Many outsourcing firms offer customized services to meet specific business needs. Additionally, accounting outsourcing firms bring a depth of financial knowledge and expertise to the table. They stay updated with industry trends, best practices, and changing regulations, providing businesses with valuable insights. 

In fact, along with IT, accounting is the most outsourced service with 37% of small businesses outsourcing at least one of them [2]. By entrusting financial tasks to expert professionals, businesses can ensure accuracy, compliance, and financial stability. In this article, we present the top 5 accounting outsourcing firms that are making waves in the industry, including Outbooks, GI Outsourcing, Axon Outsourcing, Sandmartin, and Samera.

1. Outbooks: Pioneers of Online Accounting Solutions

Company Timeline: Outbooks, founded in 2008, has established itself as a pioneer in providing online accounting solutions. Over the years, they have evolved to meet the ever-changing needs of businesses, continuously enhancing their technology and expertise. 

Range of Services: Outbooks offers a comprehensive range of services, including bookkeeping, accounts payable and receivable management, payroll processing, tax preparation, and financial reporting. Their user-friendly software and dedicated team of accountants ensure that clients have real-time access to their financial data, helping them make informed decisions. 

Key Differentiators: Outbooks stands out in the accounting outsourcing arena due to their commitment to technology-driven solutions. They leverage cutting-edge software to streamline processes, reducing the risk of errors and improving efficiency. Their 24/7 client support, data security measures, and cost-effective pricing make them a preferred choice for businesses of all sizes. 

Click here to read our article on Zoho Books vs Quickbooks: A Samera Review.

2. GI Outsourcing: A Global Accounting Partner

Company Timeline: GI Outsourcing, established in 2002, has emerged as a global leader in accounting and finance outsourcing. With a strong emphasis on quality and client satisfaction, they have built a reputation for excellence. 

Range of Services: GI Outsourcing offers a wide spectrum of services, encompassing accounting, financial planning and analysis, tax compliance, and advisory services. Their dedicated teams serve a diverse range of industries, guaranteeing customized solutions that align with precise business requirements. 

Key Differentiators: One of GI Outsourcing’s distinguishing features is its international reach and expertise. They have a presence in multiple countries, allowing them to serve clients with global operations seamlessly. Their robust data security protocols, proactive risk management, and commitment to continuous improvement set them apart as a trusted partner for businesses expanding across borders. 

Click here to read our article on 6 ways Accounting Outsourcing Firms can tackle evolving client expectations.

3. Axon Outsourcing: Customized Accounting Solutions

Company Timeline: Axon Outsourcing, founded in 2010, has quickly gained recognition for its commitment to delivering personalized accounting solutions. They have steadily expanded their clientele by adapting to the evolving demands of the market. 

Range of Services: Axon Outsourcing offers a tailored approach to accounting, including services such as financial analysis, tax optimization, audit support, and CFO advisory. They work closely with clients to understand their unique financial goals and challenges, ensuring customized solutions. 

Key Differentiators: Axon Outsourcing’s strength lies in its ability to adapt to the specific needs of each client. They take a proactive approach to identify opportunities for financial improvement and offer strategic guidance. With a team of experienced financial experts, they provide valuable insights that go beyond traditional accounting services. 

4. Sandmartin: Your Financial Outsourcing Partner

Company Timeline: Sandmartin, founded in 2005, has steadily grown its presence in the outsourcing industry. They have honed their skills in providing financial outsourcing solutions that empower businesses to thrive. 

Range of Services: Sandmartin offers a wide array of services, including accounts payable and receivable management, payroll processing, financial reporting, and tax compliance. They cater to businesses of all sizes, from startups to established corporations. 

Key Differentiators: Sandmartin’s commitment to client satisfaction sets them apart. They prioritize building strong relationships with clients, ensuring clear communication and timely delivery of services. Their dedication to accuracy and compliance, along with cost-effective pricing, makes them an attractive choice for businesses looking for reliable financial outsourcing partners. 

5. Samera: Global Accounting Experts

Company Timeline: Samera, founded in 2002, has established itself as a niche player in the accounting outsourcing industry, focusing exclusively on dental practices. With years of experience, they have become experts in addressing the unique financial challenges faced by dental professionals. 

Range of Services: Samera offers specialized accounting and advisory services tailored to the dental industry. Their services include practice acquisitions, financial planning, tax management, and regulatory compliance. They understand the intricacies of dental practices and provide valuable insights to help dentists succeed. 

Key Differentiators: Samera’s niche specialization in dental accounting makes them stand out. They possess an in-depth understanding of the dental profession’s financial nuances, allowing them to offer targeted solutions. Their commitment to staying up-to-date with industry trends and regulations ensures that dental practices remain compliant and financially sound. 

Click here to read our article on Why should accountants outsource their accounts.

Conclusion

A recent trend uncovered by a report by Research And Markets suggests that business owners and top finance execs are looking for digital finance and accounting providers to reimagine their financial operations [3]. And now, with these best 5 accounting outsourcing service providers at your fingertips, your business can unlock savings, access expertise, achieve efficiency and high productivity, and enable scalability and adaptability.  

Clearly, these top 5 accounting outsourcing firms—Outbooks, GI Outsourcing, Axon Outsourcing, Sandmartin, and Samera—have made significant contributions to helping businesses achieve financial success. By outsourcing their accounting needs to these reputable firms, businesses can streamline their financial processes, slash overhead expenses, and further develop their core functionalities. Whether you’re a startup or a large corporation, these firms offer a wide range of services to meet your specific financial requirements. Make the smart choice and partner with one of these top accounting outsourcing firms to drive your business toward greater financial success. 

Expert Opinion

All of these are great firms, but Samera Global runs its own accountancy firm, so it understands the reality of running a firm. We know your issues, your problems, and how we can solve them through our dedicated offshore teams.

We know our experience as accountants, our reliability, and our cost-effectiveness puts us head and shoulders above the rest!

Bibliography

https://www.auxis.com/blog/finance-and-accounting-outsourcing-trends

https://www.zippia.com/advice/outsourcing-statistics/

https://www.researchandmarkets.com/reports/1227749/finance_and_accounting_outsourcing_global

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

In one of our earlier articles, we explored 7 Signs Your Business Needs to Outsource Accounting and Bookkeeping Services. In this piece we go over the possible solutions that an accounting outsourcing partner firm can bring to your business, helping navigate critical business challenges. 

Accurate bookkeeping and accounting serve as the foundation for sound financial practices. However, as your business grows, these tasks can become increasingly complex and time-consuming, potentially leading to various challenges. The need for an accounting outsourcing partner typically emerges when a business encounters several common financial challenges. As operations expand, so do the intricacies of financial tasks. Managing payroll, ensuring tax compliance, generating precise financial reports, and tracking expenses can quickly become overwhelming for internal teams. 

7 Solutions Accounting Outsourcing Firms Can Offer to Your Business

1. Streamlining Complex Financial Tasks 

Sign: Overwhelmed by Complex Financial Tasks 

As your business expands, financial tasks like payroll management, tax compliance, financial reporting, and expense tracking can become overwhelming. An accounting outsourcing firm steps in as a seasoned ally, taking on these complexities with expertise. A study of the Global Business Services (GBS) outsourcing market by Grand View Research highlighted complex financial tasks as a key factor in outsourcing accounting and bookkeeping functions [1]. 

In a real-world scenario, when your business partners with an outsourcing firm, their dedicated team efficiently manages these intricate financial processes. Their streamlined approach ensures accurate payroll processing, adherence to tax regulations, timely financial reporting, and meticulous expense tracking. This relieves your team of the burdensome administrative work, allowing them to focus on strategic growth initiatives and core business activities. 

2. Ensuring Compliance with Regulations 

Sign: Falling Short on Compliance 

Thomson Reuters’ 2023 State of the Corporate Legal Department reveals that, Compliance with changing global regulatory burdens is now the top priority for organizations, in wake of this insight, small businesses face increased compliance complexity and are left with fewer means to tackle it [2]. 

Staying abreast of ever-evolving financial regulations and compliance requirements can be resource-intensive. Errors in compliance can lead to hefty penalties and legal challenges. An accounting outsourcing firm specializes in staying current with local and international regulations, keeping your business compliant. 

In practice, your outsourcing partner’s compliance experts meticulously navigate the complex web of financial regulations. They ensure your business adheres to all relevant laws, eliminating the need for extensive in-house training and resources. This safeguards your business from legal troubles and associated costs while ensuring smooth operations.

3. Eliminating Critical Errors and Inaccuracies 

Sign: Critical Errors and Inaccuracies 

Errors and inaccuracies in financial records can prove costly. When you notice a pattern of these issues, it’s time to seek the expertise of an outsourcing firm. They employ professionals with a keen eye for financial accuracy. Why is this important? Because when it comes to accounting and bookkeeping, efficiency is a result of accuracy. So much so that research suggests, 24% of small businesses leverage outsourcing services with the aim of improving efficiency [3].  

In reality, outsourcing firms employ skilled accountants who meticulously review your financial documents, ensuring precision and reliability. This significantly reduces the risk of costly mistakes that could harm your business’s financial health. Through their expertise and attention to detail, they maintain the integrity of your financial records. 

4. Scalability to Meet Growth 

Sign: Struggling to Manage Growth Internally 

As your business expands, its accounting and bookkeeping needs evolve. This, however, can be a challenging upscale for businesses. Handling this growth internally can be daunting, requiring significant investments in infrastructure, personnel, and technology. To this end, Deloitte’s recent research reports that 64% of CFOs believe scalability, especially in being AI-ready, is a major challenge for finance function [4]. Accounting outsourcing offers scalability, ensuring your financial processes can keep pace. 

In the real world, as your business experiences growth spurts, your outsourcing partner seamlessly scales their services to accommodate your evolving needs. They provide additional resources and expertise when necessary, ensuring that your financial management aligns with your business’s expansion. This flexibility optimizes efficiency and cost-effectiveness. 

5. Access to the Latest Technology and Cyber Security Solutions 

Sign: Staying Updated with Technology Advancements 

The financial industry continually embraces technological advancements, such as automation, AI, and cloud-based solutions. Staying at the forefront requires ongoing investment and training. Accounting outsourcing firms leverage cutting-edge technologies, ensuring your business benefits without the burden of constant technology upgrades.  

In practice, your outsourcing partner implements the latest financial technologies to enhance accuracy and efficiency. They employ automation to streamline processes, AI for data analysis, and robust cloud-based solutions for secure data storage. To understand how cloud-based financial software solutions are permeating the finance world, research by Grand View Research gives a strong lighthouse illustration that the finance cloud market is estimated to be worth $101.71 Billion By 2030, growing at a CAGR of 20.3% from 2022 to 2030 [5]. Additionally, accounting outsourcing firms prioritize cybersecurity, safeguarding your sensitive financial information from data breaches and cyberattacks.  

6. Access to Specialized Financial Expertise 

Sign: Struggling with Complex Financial Regulations 

Navigating intricate financial regulations and tax laws necessitates specialized expertise. Accounting outsourcing firms provide access to professionals who specialize in these areas, ensuring your business operates within legal boundaries while optimizing tax benefits. 

In the real world, your outsourcing partner’s financial experts delve deep into the complexities of financial regulations. They offer expert guidance, ensuring your business remains compliant while taking advantage of available tax benefits. This specialized knowledge helps your business navigate the intricate financial landscape efficiently. 

7. Cost Efficiency and Resource Allocation 

Sign: Rising In-House Accounting Costs 

Running an in-house accounting department can be costly, with expenses encompassing salaries, office space, software, and training. If these costs are steadily increasing, outsourcing offers substantial cost savings. With outsourcing, you pay for services as needed, eliminating overhead expenses. 

In practice, when you engage an outsourcing firm, you gain a cost-efficient solution that precisely matches your financial needs. You only pay for the services required, reducing unnecessary overheads. This frees up resources that can be strategically allocated to areas that yield maximum efficiency and profitability, ensuring a healthy bottom line. 

Conclusion

The signs indicating the need for accounting outsourcing are not merely challenges; they are opportunities to elevate your business’s financial health and efficiency. Accounting outsourcing firms offer tailored solutions to tackle specific business challenges. 

As we’ve explored, partnering with accounting outsourcing firms empowers businesses to streamline complex financial tasks, ensure unwavering compliance, eliminate errors, achieve scalability, harness cutting-edge technology, access specialized expertise, and optimize cost efficiency. No matter how daunting it may figure to navigate through today’s complex financial landscape, remember, there are accounting outsourcing firms ready to navigate the intricate steps with you.  

With a keen understanding of the unique financial challenges faced by small businesses, Samera offers tailored solutions to tackle in-house accounting and bookkeeping challenges. So, if you’re a business owner, consider how Samera can help you harmonize your finance function and take a step closer to profitability and sustainable business growth. 

Bibliography

1. https://www.grandviewresearch.com/industry-analysis/business-process-outsourcing-bpo-market 

2. https://legal.thomsonreuters.com/en/insights/reports/2023-state-of-corporate-legal-department-report/form 

3. https://fortunly.com/statistics/outsourcing-statistics/ 

4. https://www2.deloitte.com/al/en/pages/about-deloitte/articles/ce-cfo-survey-automation.html 

5. https://www.grandviewresearch.com/press-release/global-finance-cloud-market 

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

The Manpower Challenge for Accountancy Firms

In the fiercely competitive landscape of accounting outsourcing, talent acquisition, and retention have emerged as critical challenges for firms seeking to maintain a competitive edge. As the demand for outsourced financial services continues to grow, accounting firms must develop effective strategies to attract top talent and ensure a skilled and engaged workforce.

4 Talent Acquisition Challenges Accounting Outsourcing Firms Face

The talent acquisition challenge encompasses several critical aspects that require strategic navigation and proactive measures. Firstly, the rise in outsourcing popularity has led to increased competition among firms vying for a limited pool of top accounting talent. Large accounting firms and technology companies often lure candidates with enticing packages, career growth opportunities, and diverse client portfolios, making it challenging for smaller outsourcing firms to compete for the best candidates.

Secondly, the landscape of accounting and finance is rapidly evolving, fueled by technological advancements and changing industry requirements. The traditional roles of bookkeeping and compliance are no longer sufficient to meet the dynamic needs of clients. As businesses demand more comprehensive financial insights, data analytics, advanced software expertise, and strategic financial advisory, the talent requirements have undergone a significant shift.

Another aspect of the challenge lies in the scarcity of qualified accounting professionals, particularly in specialized fields. The industry faces a shortage of skilled candidates who possess the expertise to tackle complex financial scenarios and offer strategic guidance to clients. As outsourcing firms endeavor to cater to diverse client demands, the limited supply of specialized talent poses a significant obstacle to finding the right professionals for specific roles.

Here are 4 ways in which this challenge impacts accounting outsourcing firms:

Increased Competition:

As more firms embrace outsourcing, competition for top accounting talent intensifies. Big accounting firms and tech companies often lure candidates with attractive packages and opportunities for growth, making it challenging for smaller outsourcing firms to compete.

Changing Skill Requirements:

The evolving landscape of accounting and finance demands a diverse skill set that goes beyond traditional bookkeeping and compliance. Candidates with expertise in data analytics, advanced software, and financial advisory are in high demand, leading to talent shortages in these areas.

Talent Shortages:

The accounting industry faces a shortage of qualified professionals, especially in specialized fields. This shortage poses a significant challenge for outsourcing firms seeking to find skilled candidates to meet clients’ diverse needs.

Remote Work Expectations:

In the wake of the pandemic, candidates now expect flexible work arrangements. Accounting firms must adapt to this shift in expectations to attract and retain top talent.

Retaining Top Accounting Professionals

Confronting the talent acquisition challenge necessitates a strategic approach to talent attraction and recruitment. Beyond traditional recruitment methods, accounting outsourcing firms must devise innovative and attractive offerings to stand out in the competitive talent market. Competitive compensation packages, clear career growth pathways, a supportive work culture, and opportunities for continuous learning and development are crucial elements in drawing the attention of sought-after candidates.

Talent Poaching:

Larger accounting firms and competitors may attempt to poach top talent from outsourcing firms with enticing offers and growth prospects. Retaining talent requires proactive measures to engage and recognize employees’ contributions.

Career Development:

Providing continuous learning and development opportunities is crucial for talent retention. Offering training programs, mentorship, and certifications enables employees to advance their careers within the firm.

Employee Recognition and Rewards:

Recognizing and rewarding employee achievements and contributions fosters a sense of appreciation and loyalty. A well-structured recognition program can motivate employees to stay committed to the firm.

Supportive Work Environment:

Cultivating a supportive and inclusive work environment is essential for employee satisfaction and retention. Encouraging open communication, teamwork, and work-life balance contributes to a positive workplace culture.

4 Ways to Mitigate Future Workforce Challenges

The Talent Acquisition Challenge extends beyond short-term talent acquisition goals; it has significant implications for the firm’s long-term success and ability to deliver exceptional client services. Acquiring top accounting talent lays the foundation for sustainable growth, client satisfaction, and maintaining a reputation for excellence.

By addressing this challenge head-on and embracing strategic talent acquisition practices, accounting outsourcing firms can build a skilled and dedicated workforce that forms the backbone of their continued success in the dynamic and ever-evolving accounting landscape. Here are a few ways in which accounting outsourcing firms can mitigate challenges arising out of talent and skill gaps among their workforce:

Talent Forecasting:

Accounting outsourcing firms must forecast future talent needs based on industry trends, technology advancements, and client demands. Identifying potential skill gaps helps firms prepare and plan for future workforce needs.

Upskilling and Training:

Investing in employee upskilling and training programs enables the firm to address skill gaps proactively. Continuous learning ensures employees remain competent and adaptable to emerging industry demands.

Fostering Internal Talent:

Promoting from within the firm fosters loyalty and motivation among employees. Identifying and nurturing internal talent for leadership positions can mitigate skill gaps and retain valuable expertise.

Collaborating with Educational Institutions:

Forming partnerships with educational institutions can provide accounting outsourcing firms with early access to emerging talent. Engaging with academia allows firms to shape curricula to align with their specific skill requirements.

Conclusion

In the competitive landscape of accounting outsourcing, talent acquisition, and retention are pivotal factors for a firm’s success. Attracting top talent requires competitive compensation packages, career growth opportunities, work-life balance, and a showcase of firm culture.

By employing the above-listed mitigation strategies, accounting firms can forecast their talent needs more effectively, ensuring they have the right talent in place to meet future challenges and deliver exceptional client services. Proactive talent forecasting enables firms to stay ahead of the competition, build a skilled and engaged workforce, and achieve sustained growth and success in the dynamic accounting industry. All in all, this can ensure that accounting outsourcing firms have a skilled and engaged workforce, giving them a competitive edge in the market and sustaining long-term growth and success.

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

The accounting outsourcing industry has experienced a seismic shift in recent years, driven by evolving client expectations that demand more than just traditional financial services. As businesses become more attuned to the possibilities of outsourcing, they expect accounting firms to offer tailored solutions, strategic insights, and value-added services that go beyond the confines of traditional bookkeeping.

The Changing Landscape of Client Expectations

Adapting to evolving client expectations in the accounting outsourcing industry brings forth a spectrum of substantial benefits that significantly impact a firm’s success. First and foremost, when a firm succeeds in meeting and even surpassing client expectations, it forges a strong bond of loyalty and nurtures enduring relationships. Financially, the shift towards adapting to evolving client expectations opens doors to increased revenue opportunities.

The value-added services, characterized by their sophistication and strategic insights, often command higher fees. Moreover, by consistently delivering comprehensive solutions that align with client aspirations, accounting outsourcing firms establish a track record of reliable performance. This reputation for consistently delivering more than expected not only justifies the higher fees but also invites clients to explore additional services, thus generating supplementary revenue streams. Clients who experience top-notch service are not only inclined to stay with the firm but also become enthusiastic advocates who refer its services to others within their network. This virtuous cycle of loyalty not only stabilizes the client base but also expands it organically.

5 Ways in which Client Expectations are Evolving

Clients who experience top-notch service are not only inclined to stay with the firm but also become enthusiastic advocates who refer its services to others within their network. This virtuous cycle of loyalty not only stabilizes the client base but also expands it organically.

Beyond Compliance:

Clients are no longer content with mere compliance and transactional services. They seek advisory relationships that offer strategic guidance, insightful analytics, and a deep understanding of their business goals. Accounting outsourcing firms must pivot from a reactive compliance approach to a proactive advisory role.

Personalized Solutions:

Businesses are looking for solutions tailored to their unique needs and challenges. Cookie-cutter approaches no longer suffice; clients expect personalized strategies that address their specific pain points and support their growth objectives.

Real-Time Insights:

In a data-driven age, clients demand real-time financial insights that empower them to make informed decisions promptly. Access to accurate and up-to-date financial data is essential for clients to steer their businesses effectively.

Technological Integration:

Clients anticipate seamless integration with the latest accounting technologies. They expect firms to leverage digital tools, cloud-based platforms, and automation to streamline processes and enhance efficiency.

Comprehensive Value:

Beyond numbers and figures, clients seek a comprehensive understanding of their financial health. They value firms that can offer holistic advice, identifying opportunities for cost savings, revenue growth, and operational improvements.

Benefits of Adapting to Evolving Client Expectations

Client Retention and Loyalty:

Meeting and exceeding client expectations fosters loyalty and long-term relationships. Satisfied clients are more likely to remain with the firm and refer its services to others.

Competitive Differentiation:

Firms that adapt to changing client expectations differentiate themselves from competitors. Offering personalized, value-added services sets them apart in a crowded market.

Revenue Growth:

Value-added services command higher fees and generate additional revenue streams. Firms that can deliver comprehensive solutions are better positioned for sustained growth.

Enhanced Reputation:

Firms that consistently meet evolving client expectations gain a reputation for excellence and client-centricity. A positive reputation attracts new clients and opportunities.

6 Strategies for Meeting Evolving Client Expectations

A paramount advantage of aligning with evolving client expectations is the enhancement of the firm’s reputation. When a firm consistently meets the dynamic demands of clients, it cultivates an image of excellence and client-centricity.

This positive reputation reverberates across the industry, attracting not only new clients but also opportunities for collaboration and partnership. It becomes a testament to the firm’s commitment to quality, ultimately reinforcing its standing as a trustworthy and sought-after service provider.

Transition to Advisory Services:

To meet client demands for strategic insights, accounting outsourcing firms must embrace an advisory role. Firms should position themselves as trusted partners who offer guidance on financial decisions, risk management, and growth strategies.

Embrace Technology:

Integrating advanced accounting technologies not only improves efficiency but also provides clients with real-time access to their financial data. Cloud-based platforms, data analytics tools, and AI-driven solutions enhance transparency and collaboration.

Personalization:

Firms should tailor their services to align with each client’s unique goals and challenges. This requires an in-depth understanding of the client’s industry, business model, and aspirations.

Proactive Communication:

Regular and proactive communication is essential to keep clients informed about their financial health. Offering insights, analysis, and recommendations helps clients make informed decisions in a timely manner.

Continuous Learning:

Staying up-to-date with the latest industry trends, regulations, and technologies is crucial. Continuous learning allows firms to offer cutting-edge solutions and relevant advice to clients.

Value-Added Services:

Diversify offerings by incorporating value-added services such as financial planning, risk assessment, and process optimization. These services enhance the overall client experience and provide tangible benefits.

Expert Opinion

“Clients are expecting more and more from their accountants. Gone are the days of just filing accounts and tax returns, clients expect business advice, and also a sounding board. But how can you come a trusted advisor if you don’t understand their business. In my view the only way to understand their business is to understand an industry in detail. This means focusing on a sector, becoming a sector specialist.

From this, you will see common problems and issues and be able to offer sound well trodden advice. Clients want your financial mind, but also your business expertise focused around their business. They will pay for this, and this will also differentiate your firm from the masses doing everything – not very well.”

Arun Mehra FCA
Samera Group CEO

Conclusion

The evolving landscape of client expectations in the accounting outsourcing industry presents both challenges and opportunities. Clients seek personalized solutions, real-time insights, and advisory services that empower their businesses. Accounting outsourcing firms that can pivot from compliance-focused approaches to becoming strategic partners will thrive in this changing environment.

Lastly, the benefits of adapting to evolving client expectations in the accounting outsourcing industry span from fostering lasting loyalty and differentiation in a competitive landscape to driving revenue growth and augmenting the firm’s reputation. Adapting to evolving client demands is not only a business necessity but also a pathway to differentiation, growth, and a reputation for delivering unparalleled value in the competitive accounting outsourcing landscape.

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

The landscape of accounting outsourcing is undergoing a transformation that transcends traditional models, opening doors to an array of new opportunities. As businesses adapt to a rapidly changing environment, accounting services firms are embracing innovative business models and diversifying their revenue streams. With traditional roles and services shifting, accounting firms are presented with a unique opportunity to reinvent their business models and tap into new revenue streams. To remain competitive and relevant in this ever-changing environment, accounting firms must embrace innovative approaches that go beyond traditional service offerings.

5 Emerging Business Models and Revenue Streams

The following emerging business models and revenue streams reflect the dynamic nature of the accounting outsourcing industry. As firms adapt to changing client needs and technological advancements, they create innovative ways to deliver value, enhance partnerships, and drive growth for both themselves and their clients.

Outcome-Oriented Pricing Model

Traditional billing methods based on hourly rates are giving way to outcome-oriented pricing models. In this approach, accounting firms charge clients based on the value they deliver rather than the hours worked. This shift aligns the firm’s success with the client’s business outcomes. Firms collaborate closely with clients to identify key performance indicators (KPIs) and goals, and fees are determined based on achieving these targets. This model fosters a partnership mindset, as both the firm and the client share in the successes articles.

Virtual CFO Services:

Accounting firms are transitioning from being mere service providers to becoming strategic partners by offering virtual Chief Financial Officer (CFO) services. They assume a more proactive role in guiding clients’ financial decisions, providing valuable insights, financial analysis, and strategic planning. This model involves a deeper engagement with clients, where the firm acts as an extension of the client’s management team. By offering CFO-level expertise, firms enable clients to make informed decisions that drive growth, cost optimization, and overall financial health.

Technology Integration Solutions:

As businesses increasingly embrace technology, accounting firms are evolving to provide integrated technology solutions. Beyond traditional accounting services, firms offer expertise in selecting, implementing, and managing accounting software, cloud-based platforms, and data analytics tools. By providing technology solutions that streamline processes and enhance efficiency, accounting firms position themselves as partners in clients’ digital transformation journeys.

Niche Specialization:

To stand out in a competitive landscape, many accounting outsourcing firms are embracing niche specialization. Focusing on specific industries or services allows firms to develop a deep understanding of unique challenges and needs within that sector. By becoming experts in their chosen niche, firms can provide tailored solutions that resonate with clients seeking specialized expertise. This specialization often commands higher fees and attracts clients who value industry-specific insights.

Data-Driven Insights:

The evolution of data analytics is transforming the way accounting firms deliver value. Firms are leveraging data-driven insights to provide clients with real-time visibility into their financial performance. By analyzing historical data and predicting future trends, firms enable clients to make informed decisions that drive growth and profitability. This model shifts the focus from traditional historical reporting to providing forward-looking insights that support strategic decision-making.

The Shift Towards Consultancy Roles

Beyond being mere number crunchers and compliance experts, accounting firms are increasingly called upon to assume consultancy roles for their clients. This imperative shift arises from the need to offer comprehensive value-added services that extend beyond the realm of financial reporting.

As businesses seek strategic guidance and holistic solutions to navigate an ever-changing landscape, accounting firms are uniquely positioned to provide expert insights, risk management strategies, and innovative recommendations that drive growth and sustainability. By donning the hat of consultants, accounting firms can:

• Guide Strategic Decisions: Consultants offer invaluable insights that help clients make informed business decisions. Firms equipped with financial expertise can guide clients through mergers, acquisitions, and expansion strategies.
  
• Risk Management: By assessing potential risks and offering mitigation strategies, firms protect clients from financial pitfalls. This proactive approach fosters client loyalty and trust.
  
• Financial Planning: Consultants create robust financial plans that align with clients’ long-term goals. This holistic approach ensures sustainable growth and profitability.
  
• Innovative Solutions: Consultants explore innovative solutions that drive business growth. Whether it’s identifying cost-saving measures or optimizing operational efficiency, firms become catalysts for innovation.

5 Avenues for Diversifying Future Revenue Streams

The traditional model of relying solely on core accounting services for revenue is no longer sufficient to maintain a competitive edge. To thrive in this evolving landscape, accounting firms must diversify their revenue streams. This strategic pivot is essential for not only adapting to changing market dynamics but also for harnessing new opportunities that arise from emerging trends.

By broadening their range of services and revenue sources, accounting firms can not only secure their relevance but also position themselves as versatile and forward-thinking partners to their clients. Diversifying revenue streams is a cornerstone of future-proofing accounting outsourcing firms. As clients’ needs evolve, firms must adapt by exploring new avenues for revenue generation:

1. Value-Added Services: Expanding service offerings to include value-added services like business advisory, financial planning, and risk management creates new revenue streams that resonate with clients seeking comprehensive solutions.
   
2. Training and Workshops: Hosting training sessions and workshops on topics such as financial literacy, technology integration, and compliance keeps clients engaged and generates additional revenue.
   
3. Strategic Partnerships: Collaborating with complementary service providers, such as legal firms or IT consultants, opens doors to cross-referrals and revenue-sharing opportunities.
   
4. Subscription-Based Models: Offering subscription-based services, such as ongoing financial analysis and reporting, provides a steady stream of revenue while maintaining a client-centric approach.
   
5. Innovative Technology: Investing in innovative technologies not only enhances service delivery but also positions the firm as an industry leader, attracting tech-savvy clients and enhancing credibility.

Expert Opinion

“At our UK firm, samera.co.uk we have expanded our services from being a niche firm in the UK dental sector. By having a real insight into the sector we understand the problems faced by our clients. This lead us to offer financing services for dentists, a buying group for dentists, but also virtual CFO services (financed director services in the UK to our client base.

This has enabled us to add real value to our clients and helped them achieve their business goals. By offshoring some of the processing work to our team in Samera Global (India) the UK team are able to focus on the higher revenue earning services for the UK firm.”

Arun Mehra FCA
Samera Group CEO

Conclusion

The accounting outsourcing industry is at the cusp of transformation, where emerging business models and diversified revenue streams are reshaping the landscape. As accounting firms embrace evolving models, assume consultancy roles, and harness innovation, they position themselves as indispensable partners in clients’ growth journeys.

The future belongs to those who adapt, innovate, and seize opportunities – and in the dynamic world of accounting outsourcing, the time to embrace the future is now. By understanding the evolving business models, recognizing the significance of consultancy roles, and implementing strategies to diversify revenue streams, accounting services firms can not only thrive but also lead in this era of unprecedented change.

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

In the accounting outsourcing industry, where delivering top-notch financial services is paramount, the challenges of cost management and efficiency take center stage. As businesses continue to seek specialized accounting expertise from outsourcing firms, the pressure to provide exceptional services while maintaining cost-effectiveness is higher than ever.

4 Key Cost Management Challenges

Navigating the financial landscape of the accounting outsourcing industry presents a unique set of challenges, with cost management standing as a formidable hurdle. As firms strive to provide top-tier financial services while maintaining cost-efficiency, they encounter a series of intricate obstacles that demand strategic solutions.

In this section, we will delve into the multifaceted world of cost management challenges faced by accounting outsourcing firms, exploring the complexities that arise from intense competition, operating expenses, resource allocation, and the imperative of scalable growth. Through a comprehensive understanding of these challenges, firms can pave the way for effective cost-management strategies that bolster their operational excellence and sustainability in a dynamic marketplace.

Intense Competition

The accounting outsourcing industry is characterized by fierce competition, with numerous firms vying for clients’ attention. This competition often exerts downward pressure on fees, compelling firms to find innovative ways to manage costs without compromising on service quality.

Operating Expense

Running an outsourcing firm involves several fixed and variable costs, including employee salaries, technology infrastructure, office space, and software licenses. Keeping these expenses in check while delivering exceptional services is a delicate balance.

Resource Allocation

Efficiently allocating resources across various client projects is a challenge. Ensuring that skilled professionals are utilized optimally while minimizing underutilization or overallocation can be complex, especially when workloads fluctuate.

Scalability

As client demands change and the firm grows, maintaining efficiency becomes trickier. Scaling operations without incurring exponential costs requires careful planning and strategic management.

5 Strategies for Effective Cost Management

Accounting outsourcing firms grapple with the intricacies of maintaining top-tier service quality while optimizing operational expenses. To navigate this delicate balance, a strategic arsenal of cost management strategies is essential. Here, we will explore five indispensable strategies that empower accounting outsourcing firms to streamline workflows, allocate resources efficiently, and harness the power of technology for unparalleled cost optimization.

Through the implementation of these strategies, firms can chart a course toward enhanced efficiency, sustainable growth, and a competitive edge in an ever-evolving industry landscape.

Comprehensive Budgeting

Developing a detailed budget that encompasses all operational expenses is crucial. This budget serves as a roadmap for allocating resources effectively and identifies areas where cost-saving measures can be implemented.

Resource Utilization Tracking

Implementing resource tracking systems helps firms monitor employee workload, ensuring that talents are deployed efficiently across projects. This prevents both underutilization and overallocation of resources.

Lean Process Optimization

Streamlining workflows and processes can eliminate inefficiencies and reduce redundant steps. Identifying bottlenecks and implementing lean principles can significantly enhance operational efficiency.

Vendor Management

Negotiating favorable terms with vendors and suppliers can lead to cost savings. Establishing long-term partnerships and exploring bulk purchasing options can yield significant financial benefits.

Employee Training and Development

Investing in employee training enhances their skill sets, enabling them to complete tasks more efficiently. Skilled professionals can handle tasks with greater accuracy, reducing the need for rework and improving overall productivity.

5 Ways Tech can Help Accounting Outsourcing Firms Save Costs

In an era marked by technological advancement, the marriage of innovation and cost management holds immense potential for accounting outsourcing firms. The integration of technology not only revolutionizes operational dynamics but also serves as a powerful tool for achieving substantial cost savings. In this section, we will delve into five ways in which technology can be harnessed to transform the cost landscape of accounting outsourcing firms. As technology reshapes the business landscape, accounting outsourcing firms stand to reap the rewards of digital transformation in their relentless pursuit of fiscal prudence.

Cloud-Based Solutions

Embracing cloud-based accounting platforms and software reduces the need for extensive in-house infrastructure. Cloud solutions offer scalability, flexibility, and cost savings through pay-as-you-go models.

Automation

Implementing automation tools for routine and repetitive tasks minimizes manual effort, saves time, and reduces errors. This approach frees up valuable human resources for tasks that require higher-level thinking.

Data Analytics

Utilizing data analytics tools allows firms to gain insights into their operations and identify areas for improvement. Analyzing trends and patterns can lead to informed decisions that optimize costs.

Remote Work

Enabling remote work options can reduce overhead costs associated with office space and utilities. Moreover, it attracts talent that values flexible work arrangements, widening the pool of potential employees.

Cybersecurity Measures

Investing in robust cybersecurity measures prevents data breaches and the associated financial losses. The cost of potential breaches far outweighs the investment required to fortify cybersecurity.

Expert Opinion

“As the world is shrinking by the day, and technology develops even faster, the days of the accountant are not numbered but required even more in my view. But, and this is a big BUT, many of the menial jobs of the past can be done better and cheaper by teams overseas and AI will also help here too. The smarter accountants are embracing offshoring and technology and then freeing up their time to offer added value services to clients.

It’s a lot cheaper to pay a book-keeper (and often much quicker) to someone in Delhi, as opposed to a high cost bookkeeper in Derby. Running an accountancy firm is difficult so where you can save, you should, and be smart. I can pay a bookkeeper in India, say £8-£15/hour, whilst a book-keeper would cost me at least double in the UK – a no brainer in my view to come up with an effective offshoring solution for your firm.”

Arun Mehra FCA
Samera Group CEO

Conclusion

Cost management and efficiency in the accounting outsourcing industry are challenges that require a strategic and multifaceted approach. By implementing comprehensive budgeting, optimizing processes, and tracking resource utilization, firms can improve operational efficiency and cost-effectiveness. Leveraging technology, including cloud-based solutions, automation, data analytics, and remote work options, further enhances cost optimization.

Striking the delicate balance between delivering exceptional services and managing costs effectively is key to the long-term success and sustainability of accounting outsourcing firms in a competitive market. With the right strategies and a commitment to continuous improvement, these firms can navigate the challenges and emerge as industry leaders in delivering efficient and cost-effective financial services.

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

In 2022, the worldwide market for outsourcing finance and accounting business processes was valued at USD 56.42 billion. It is projected to grow at a steady compound annual growth rate (CAGR) of 9.1% from 2023 to 2030 [1 ]. 

In the world of business, staying competitive and efficient is vital for success. For small and medium-sized enterprises, one key aspect of this efficiency is managing finances effectively. Accurate bookkeeping and accounting are the cornerstones of sound financial management. However, as your business grows, managing these functions in-house can become increasingly challenging. This is where outsourcing your accounting and bookkeeping comes into play. 

Outsourcing accounting and bookkeeping services are a strategic move that offers numerous benefits, including cost savings, access to expert knowledge, and enhanced focus on core business activities. But how do you know if it’s time for your business to make this transition? Here are 7 signs that indicate your business may need to outsource its accounting and bookkeeping functions. 

7 Signs Your Business Needs Accounting Outsourcing Services

1. Overwhelmed by Complex Financial Tasks

As your business expands, financial tasks can become increasingly complex. Managing payroll, tax compliance, financial reporting, and tracking expenses can be overwhelming. If you find that these tasks are consuming too much of your time and energy, it’s a clear sign that outsourcing can help streamline these processes. Outsourced professionals are well-equipped to handle complex financial tasks efficiently, allowing you to focus on growing your business. 

Keeping up with evolving financial regulations and compliance requirements can be a resource-intensive task. Falling short of complying with regulations ensues in hefty penalties and legal challenges. An outsourced accounting and bookkeeping partner is typically well-versed in local and international regulations, ensuring that your business remains compliant without the need for extensive in-house training and resources.  

2. Critical Errors and Inaccuracies

Mistakes in financial records can be costly. If you notice a pattern of errors, inaccuracies, or inconsistencies in your financial documents, it’s a red flag. Outsourcing your accounting and bookkeeping ensures that experienced professionals who specialize in financial accuracy manage your records. This significantly reduces the risk of costly mistakes that could impact your business’s financial health. 

As your business grows, your accounting and bookkeeping needs evolve. Managing this growth internally can be challenging, as it often requires significant investments in infrastructure, personnel, and technology. Outsourcing offers scalability by allowing you to access resources and expertise as needed, ensuring that your financial processes keep pace with your business’s expansion. 

3. Access to Latest Technology and Cyber Security Solutions

The financial industry is witnessing rapid technological advancements, with the introduction of automation, AI, and cloud-based solutions. Staying at the forefront of these developments requires ongoing investment and training for your in-house team. Outsourcing firms typically leverage the latest technologies, ensuring that your business benefits from efficiency and accuracy without the burden of continuous technology upgrades. 

With the increasing frequency of data breaches and cyber attacks, safeguarding financial data is paramount. To that point, Deloitte’s Global Outsourcing Survey 2022 reports that 48% of business owners already leverage accounting outsourcing services to support their cyber security function [2]. An experienced outsourcing partner often has robust cyber security measures and data protection protocols in place. This can mitigate the risks associated with handling sensitive financial information in-house. 

4. Limited Access to Financial Expertise

Nearly 50% of business executives agree that skilled talent acquisition is among the most challenging aspects of meeting their organization’s accounting and bookkeeping objectives [3]. Financial regulations and tax laws are complex and ever-changing. Staying up-to-date and compliant can be challenging for businesses without dedicated financial experts. Outsourcing provides you with access to a team of professionals who stay current with regulations and can provide expert guidance. This ensures your business operates within legal boundaries while optimizing tax benefits. 

The increase in your business’ financial needs is relative to its growth. Handling increased transactions, payroll, and financial reporting requires more resources. If your in-house team is struggling to keep up with the demands of your expanding business, outsourcing can provide the scalability you need. You might find your business over-investing in areas that yield minimal returns while under-investing in critical areas. Outsourcing financial experts can provide insights into where resources should be allocated for maximum efficiency and profitability. 

5. Declining Cost Efficiency

Running an in-house accounting department can be expensive. Costs include salaries, benefits, office space, software, and ongoing training. If these costs are steadily increasing and affecting your bottom line, outsourcing can offer significant cost savings. With outsourcing, you pay for the services you need, when you need them, without the overhead expenses associated with an in-house team. In fact, close to 24% of businesses in the UK outsource accounting services with the objective of reducing costs as a major motivator [4]. 

Accounting and bookkeeping often involve specialized areas, such as tax planning, forensic accounting, or international financial reporting standards. Maintaining a team with expertise in these areas can be expensive and may not be justified for day-to-day operations. Outsourcing provides access to professionals with specialized skills when needed, eliminating the need for continuous investment in training and development.

6. Lack of Strategic Financial Planning

Effective financial planning is essential for long-term business success. If your current financial processes lack strategic insights or the ability to provide accurate forecasts, it’s time to consider outsourcing. Outsourced professionals not only handle day-to-day tasks but also provide valuable financial insights, helping you make informed decisions for your business’s future. 

Effective financial planning isn’t just about balancing the books; it’s about setting a course for growth. Without a well-defined financial strategy, you may overlook opportunities to expand, invest in new ventures, or enter emerging markets. Strategic financial planning helps you identify areas where your business can thrive and allocate resources accordingly. 

7. Inconsistent Financial Reporting

Timely and accurate financial reporting is crucial for monitoring your business’s performance and making informed decisions. If you’re consistently struggling with delays or inconsistencies in financial reporting, it can hinder your ability to react swiftly to changing market conditions. Outsourcing ensures that your financial reports are generated promptly and accurately, giving you real-time insights into your business’s financial health. 

Without a strategic financial plan, your business may be ill-prepared to weather economic downturns or unforeseen crises. Such events can disrupt cash flow, strain resources, and even threaten the survival of your business. Strategic planning includes creating contingency plans to mitigate risks and ensure your business remains financially stable during challenging times.

Conclusion

Outsourcing your accounting and bookkeeping functions can be a strategic move to enhance your business’s financial management, improve accuracy, and reduce costs. If you recognize any of these signs in your business, it may be time to explore the benefits of outsourcing. By doing so, you can refocus your efforts on core business activities, access expert financial knowledge, and position your business for sustainable growth in today’s competitive market. 

Remember, outsourcing is not a one-size-fits-all solution. Carefully assess your business’s specific needs and goals before deciding to outsource. When you find the right outsourcing partner, you’ll unlock the full potential of your business while ensuring that your financial management remains in expert hands. 

If you’re ready to explore outsourcing your accounting and bookkeeping functions, consider reaching out to Samera, a trusted partner in financial management solutions. Our team of experienced professionals can help you streamline your financial processes, enhance accuracy, and position your business for growth. Contact us today to learn more about how outsourcing can benefit your business. 

Expert Opinion

“I won’t dwell on telling you to offshore your accountancy work, because if you have landed on this page you are already thinking about it. But i will tell what a game changer it can be for you. You will save time, make more money and simply enjoy running your firm much more – period. There are great people across the world, our job is finding them, and then getting them to help you run a better accountancy firm. If you want that, then give me a shout.”

Arun Mehra FCA
Samera Group CEO

Bibliography

1. https://www.grandviewresearch.com/industry-analysis/finance-accounting-business-process-outsourcing-market-report 

2. https://www2.deloitte.com/us/en/pages/operations/articles/global-outsourcing-survey.html 

3. https://www2.deloitte.com/us/en/pages/operations/articles/global-outsourcing-survey.html 

4. https://yougov.co.uk/topics/economy/articles-reports/2019/10/24/seven-ten-british-businesses-outsource-third-parti 

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

As technology evolves and recruitment of accounting professionals becomes more difficult, the options available to accountancy firms is shrinking to hire suitable team members.

One option is to use an outsourcing or offshoring firm overseas in places like India and The Philippines, but another alternative is to actually set up your own offshore base in one of those countries.

This short guide highlights the key aspects you need to consider if you are going to go it alone and set up your own offshore facility for your accountancy firm.

This is based on my experience of setting up our full owned operation in India. It’s no mean feat, but it is achievable if you have the drive, desire, and foresight, as personally I feel over the next 20 years much of the accounting resourcing across the globe will come from countries like India.

Technology, a smart driven English-speaking workforce and lower cost base are key drivers for the growth of offshoring.

Why Offshore to India?

Setting up an accountancy offshoring operation in India involves a comprehensive series of steps that cover legal, operational, and logistical aspects.

If you’re considering the move of offshoring your accounting services to one of the world’s leading outsourcing/offshoring destinations, you’re on the right path. India offers a wealth of opportunities for businesses seeking cost-effective, skilled labour and a favourable business environment. Keep in mind that regulations and requirements may change, so consulting with legal and business experts is crucial.

The 37 Most Important Steps to Offshoring

In this ultimate guide, we walk you through 37 most important steps to navigate the process for establishing an accountancy offshoring operation in India. So, let’s get started!

Strategic Planning

1. Outsource or Offshore?: Often confused, but they do differ. Outsource usually means using a third-party firm to do the work for you. Offshoring increasingly means building your own team who work for you directly. It’s important to clearly articulate your long-term goals, vision, and specific objectives for establishing an accountancy offshoring operation in India. Consider factors like cost reduction, service expansion, or tapping into India’s skilled workforce. All of these will play a significant part in your decision -making process. Whilst using a third-party firm maybe quicker and less hassle, you are ultimately not in control of your costs or team.
   
   Why Should Accountants Outsource their Accounts?
   
2. Determine the Scope of Services: Decide which aspects of your accounting functions will be outsourced or offshored to India. It could include bookkeeping, tax preparation, audit, or a combination of these. You may plan initially to start with offshoring some basic administration work and book-keeping, and when you have a larger team, you could add further services to offshore
3. Conduct Market Research: Increasingly, many firms offer offshoring as a service to their clients. So, carry out a deep dive into the accounting services market in your target region. Analyze the demand for various services, pricing trends, and potential competitors. It’s always good to know what the competition are doing, and perhaps get some fresh ideas.
   
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Who do I hire?

4. Begin with Who: Once you are clear on what services you will be offshoring, the next question is who will I hire? At this stage, it’s imperative to write job descriptions to enable you start the recruitment process.
5. How much should you be paying: Salaries in India are considerably lower than in the UK but do some research and find out what is the going rate. There will be some applicants that would like to pull the wool over your eyes and ask for an outrageous amount, which to the untrained eye, will be ok for western salary levels, but at the extreme for actual market rates. So be careful here.
6. The first hire: Your first hire is critical as they will be the backbone of the team in India. They will certainly need experience in offshoring already, at least for 10+ years but then have an entrepreneurial spirit to get things done in India. As getting things done in India, is rarely straightforward.
7. Where to find resource? In a connected world, there are so many options available to find resource. In India, you can advertise on job portals or LinkedIn, and I can guarantee you will get many applications – remember there are 1.5 billion people in India, with the vast majority under 35, all keen to find their next job!
8. Remote video interviews: It’s hard enough to hire someone in a face-to-face interview in the UK. Now consider you are trying to hire someone abroad in a foreign country over a dodgy video call. Many people in India live in large extended families, so sometimes there can be some background noise, such as car horns, bells ringing and the like, so expect this as part of the interview process.
9. Interview as many people as possible: I must stress you must interview many candidates, this way you can get a good feel of the quality available. Some will be great, others perhaps not suitable.
10. Communication Skills are key: When working with a remote team, communication is key. Therefore, make this one of your priorities, when interviewing. Do they speak well? What’s their written English like? Would they be able to communicate with clients directly if required, or would you be worried if they did?
11. Test their technical knowledge: People always tell a good story, but ultimately it’s about whether they can do the job. So, you must test them, no test, or if they fail to complete the test in the available time, it’s probably a good to pass on the candidate. Remember there are many others that are seeking opportunities too.
12. Your First Hire Profile: As I mentioned previously getting this right is critical, as it will be this person that will assist you with hiring future candidates. They may have a network they can tap into, but more importantly understand the business formalities to setting up correctly in India.
13. Your next hires: Your first hire will be instrumental in testing and interviewing subsequent team members. You will need to scale relatively swiftly and build a team that is supportive of each other, but your first hire will be key for this process.
    
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What about the practical aspects of running a business in India?

14. Company formation: Get ready, this is a minefield and fraught with issues. Whilst we can set up a company in a day in the UK, this can take months in India, so if you do hire people initially in your team in India, expect to be paying them directly from the UK. You will need to ensure they are happy with this – some will be, others won’t be. But I guess that goes back to who you hire in the first place, and how you manage expectations. You can read our 10 step guide on incorporating a company in India, but would strongly recommend you seek professional help too.
15. Taxes : Again seek professional help, but your first hire should have the necessary contacts to help you get this done properly. Gain a comprehensive understanding of India’s tax structure, including income tax, GST, and other applicable taxes. Be aware of the tax rates and exemptions that pertain to your business. Also obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN). These identification numbers are essential for tax compliance in India. Ensure you apply for and obtain these promptly
16. Banking : Once you have figured out the company formation, you will need to get a bank account set up. Again, not as easy as one hopes, but stick with the international banks as this usually makes things easier for communication.

Infrastructure and Operational Requirements

17. Remote working or office working: We took the initial decision for the first phase to have our team work remotely, occasionally meeting in hired offices. Once we had a core team, we then found a suitable office in a central location so team members could come and work on a hybrid basis.
18. Infrastructure and Location: Choose an office location that is accessible to talent and cost-effective. Factors to consider include proximity to universities for talent acquisition, transportation links, and rental costs. These can vary greatly, but you want to have something that the team will be excited to visit regularly.
19. Office Setup: Furnish your office space with the necessary equipment, furniture, and facilities that support a productive work environment to ensure the team want to come to the office, as for many of the team they may want to meet with colleagues and build solid relationships with the team.
20. Operational Setup: Develop comprehensive Standard Operating Procedures (SOPs) that detail how accounting tasks will be executed. Establish workflows that specify the flow of work between the onshore and offshore teams. Set up clear communication protocols with the parent company to maintain a seamless workflow. These are a moving beast and will only improve as your team start to use them. If changes are made its important to keep these updated.
21. HR and Recruitment: You will need to ensure you comply with any local employment rules. This means seeking legal help, but there are also suitable HR advisors that can assist with this, including employment contracts. It’s important to create a strategic hiring plan that outlines the roles and responsibilities needed for your offshore team, including accountants, auditors, managers, and support staff.
22. Advertise Job Openings and Conduct Interviews: Promote job openings effectively to attract the right talent. Conduct rigorous interviews to assess candidates’ knowledge of Indian accounting laws and their suitability for the roles.
23. Pilot Phase: Begin operations with a small team to test workflows and gather feedback. Use this phase to identify and resolve any operational bottlenecks.
24. Employee Onboarding: Develop detailed employment contracts using any relevant support that align with Indian labour laws to establish a legally sound employment framework.
25. Provide Employee Training: Induct new employees efficiently into your company culture. Provide comprehensive training on software tools and accounting processes, and establish a culture of continuous learning. Record this training and when a new hire joins, share it with them, it will be a quick way to learn.
26. IT and Technology Setup: Invest in robust IT infrastructure, including hardware and software, to support your accounting operations. Ensure stringent data security and cybersecurity protocols are in place to protect sensitive client information. You will need your UK and Indian IT partners to support you in developing this, so you comply with all the necessary data protection standards.
27. Ensure secure data handling and cybersecurity protocols: Protecting sensitive client information is paramount in the accountancy offshoring business. Establish robust cybersecurity protocols, including data encryption, access controls, and regular security audits. These measures safeguard client data from breaches and instill trust in your services.
28. Define Communication Channels: Establish efficient communication channels between your offshore and onshore teams. Effective communication is vital for seamless collaboration. Using the latest in video calling software such as MS teams or Zoom is imperative to ensure communication is occurring regularly.
29. Data Security and Confidentiality: Implement strict data security measures to safeguard client information. Establish protocols for handling confidential data.
30. Develop a Data Breach Response Plan: Prepare for potential data breaches by creating a comprehensive response plan. This ensures swift and effective action in case of a security incident.

Building a motivated strong team

31. Cultural Sensitivity Training: Provide cultural sensitivity training to your offshore team. Understanding and respecting cultural differences is essential for effective teamwork. This is so important, so the international teams work well together
32. Transition Plan: Develop a comprehensive transition plan that outlines how work will be shifted from the onshore team to the offshore team. Ensure a seamless handover of responsibilities and overcommunicate the process if required.
33. Quality Control: Implement rigorous quality control processes to review the accuracy and compliance of accounting tasks. This guarantees that client expectations are met consistently.
34. Scalability Plan: Design a scalable plan that allows your operations to expand as your client base grows. Ensure your infrastructure and workforce can adapt to increased demand.
35. Performance Reviews: Establish a system for regular performance reviews of your offshore team. Constructive feedback helps employees grow and align with company goals.
36. Continuous Training: Offer ongoing training to keep your offshore team updated with industry trends, software updates, and changes in accounting laws.
37. Organise social events: Get the team together as often as possible, especially if they are working remotely. Get them to meet and have some fun, so they feel they are part of something special and build a great relationship with their team members..

This is a bit of a brain dump on my initial foray into Setting up an accountancy offshoring operation in India.

Expert Opinion

“This is my brain dump of how to set up your own accountancy offshoring in 37 steps. Truth be told there are so many more than 37 but I had a target number in mind. Now we set up our own facility, and boy has it made a massive difference. Was it easy? Not really, but nothing worth doing is ever easy as they say! Follow the steps outlined if you want to set up your own facility (we can help) but if you think that is a bit too much for you, get in touch we can support you with all your offshoring needs!”

Arun Mehra FCA
Samera Group CEO

As you can see this is a complex endeavor that requires careful planning, execution, and ongoing management. Each step mentioned above plays a crucial role in ensuring the success of your offshore operation. Remember to consult with legal, financial, and business experts to tailor these steps to your specific situation and to navigate the dynamic regulatory landscape.

Alternatively, if you feel this maybe just little too much work for you, get in touch with us, we would be delighted to discuss your needs and see if we can help you build your accountancy firm.

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.

Global accountancy firms are facing a significant challenge as they encounter an increase in accountancy and tax compliance work in first-world economies, while simultaneously experiencing a shortage of capable and driven accountancy and tax professionals to support firms in their endeavours. This challenge is compounding with each passing day, as the western economy workforces leave the industry or retire, resulting in a significant workforce issue for the accounting profession. 

Samera Global Can Help

To solve this issue, firms can engage with Samera Global to acquire suitable, smart, and capable accountants who are fully vetted and trained in all the accountancy and tax services required by the firm. Samera Global’s accountants can provide a long-term solution to firms’ resourcing problems. 

Resourcing for your accountancy firm is an issue that is not going away soon

It is important to note that this challenge is not getting any smaller. As the western economy workforces retire, there are insufficient accountants in the west to support all the compliance work that needs to be done. If firms do not act early to build their global team, it will become increasingly challenging to build the right team. 

The solution is two-fold: Technology and People

Solving the largest headache for firms requires two things. Firstly, firms must become technology-driven accountancy firms that leverage the fast-paced changes in Artificial Intelligence to improve their operations. Secondly, firms must build a global accountancy workforce that understands their needs and can provide long-term support. 

Samera Global can deliver on point, on time and on budget

Working with Samera Global, we can provide firms with the opportunity to build a long-term team. Samera Global’s friendly team can assist in delivering high-quality work to ensure all required deadlines are met, take away the headache of finding suitable team members, save over 50% of costs, and provide the legal and payroll infrastructure required for remote workforce management. 

Been there done that, got the T-shirt

Samera Global evolved as a result of using offshoring firms myself. 

Some of which were good, and others that were terrible. 

The common issue across all the firms used was a lack of understanding of the culture of the firm, the way it worked, and its approach in the UK (United Kingdom). As a result, Samera Global was established to provide support for UK and global accountancy firms in their resourcing problems.  

A Global Team in the UK and India 

Samera Global’s processing and accountancy work for UK clients is carried out by the Samera Global team based in India, with the remote team working UK hours and supporting the UK team throughout the day. This provides a scalable business model that can support firms of all sizes and help them grow in a manpower-restricted industry. 

The accountancy firm of the future will be one that embraces AI (Artificial Intelligence) and technology while working with the best available talent globally.  

If you are seeking the right team to support your accountancy firm, get in touch with Samera Global. 

Reviewed By:

Arun Mehra

Samera CEO

Arun, CEO of Samera, is an experienced accountant and dental practice owner. He specialises in accountancy, financial directorship, squat practices and practice management.