The trend today is that business owners outsource some of the daily functions of their company, including finance and accounting services.
Finance and accounting is critical to one’s business. The accounting department plays a very important role as it is where entrepreneurs can track the overall income and expenses of their organization.
The trend today is that business owners outsource some of the daily functions of their company, including finance and accounting services. Through this strategic practice, outsourcing is able to help elevate their efficiency while saving on overhead costs.
Of course, this is not a new concept in the market industry, as the Business Process Outsourcing (BPO) sector has continuously evolved over the years.
The BPO accounting industry then and now
Even before the internet and all other technological advancements, the BPO industry already existed. This business strategy was first introduced in the manufacturing industry around the 1970s and 1980s. During its early stages, there are businesses that subcontract their printing, production, and other fulfilment services to third parties.
Fast forward to today, , the outsourcing industry has now evolved into a strategic partnership. Today, business owners subcontract some of their core competencies as a strategic advantage to scale up their company. The BPO industry of the 21st century now has a broad range of services to help businesses leverage their business potential. A few of these services include contact center, sales marketing, IT related services, finance & accounting, and more.
BPO accounting services in today’s outsourcing sector
Accounting outsourcing is one of the emerging services that businesses opt to outsource in the BPO industry. While organizations mainly outsource for cost reduction, accounting outsourcing has many other advantages. One of the main benefits of accounting outsourcing is having to keep organized and up-to-date books and concise financial reports and statements.
Outsourcing providers usually offer a wide range of accounting services like bookkeeping, payroll, accounts receivable and payable, financial reports, and more.
Outsourcing your accounting
As for your outsourcing needs, OP360 has finance and accounting professionals who are readily available anytime. Our accounting solutions are especially tailored to meet your accounting outsourcing requirements.
With over 14 years of outsourcing experience, OP360 has been delivering high-end accounting and bookkeeping services to businesses in different types of industries. Outsourcing your accounting to OP360 gives you the access to continuous support even for 24 hours.
More so, you will be able to save an average of 75% (United States) as compared to hiring your in-house accounting team. Our accounting and bookkeeping services include bank/credit card reconciliation, inventory, payroll, cash flow, financial statement & reports, and more.
