Bookkeeping Outsourcing Companies in India

For small or medium businesses maintaining up-to-date bookkeeping is probably the most important part of the daily routine. The establishment of an accounting division, hiring and training bookkeeping personnel and buying bookkeeping software is costly. Such companies, whose core competency is not bookkeeping, can benefit by outsourcing to India.

Bookkeeping Outsourcing companies in India will eliminate the need to have an accounting division while at the same time your organization can get access to professional bookkeeping services at just 40%-50% of the cost.

Outsourcing accounting services gives you the benefit of outsourcing what you want to outsource. In case, you don’t want to outsource all your services or an entire project, you can outsource a part of it and still benefit from the advantages that outsourcing offers. In the case of bookkeeping services, you need not outsource all your bookkeeping functions. You can keep back the services that you do not want to outsource and perform them in-house.

A strong bookkeeping system has become an essential function of any company, be it a start up or a well settled business. Maintenance of transactions is vital to smooth functioning of a company. The corporate world today is moving from the pile of spreadsheets to online bookkeeping services where they outsource a part of whole of their tasks to another company that specializes in them. Like most of the countries USA, Canada, Australia, Newzealand has a wide network of online Outsourcing Bookkeeping Services. Quickbook, XERO, MYOB are a few among those.

Finance & Accounting is one of the fastest growing outsourcing industries, along with Legal Process Outsourcing, Future growth of Indian companies in this industry rest in their communication and marketing strengths.  If they can successfully woo Western clients, and offer smooth interaction, and reliable work, companies in India will win over many Accounting and Finance contracts. Although there is a lot of global competition for any type of outsourcing work, India has their history of being colonized by the British in their favor.  The educated classes generally have a good command of English in India, not to mention a long standing cultural relationship with the UK and America! I am wondering if all of the outsourcing to India will cause a general widespread reduction in hourly fees for Accounting and Finance services