Finance and Accounting Outsourcing India

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In today’s economic pressures and competitive demands companies are required to more aggressively evaluate options to reduce costs and increase value from their back office functions. To stay competitive and specially during the economic recession business executives have to aggressively pursue cost savings and productivity enhancement options and stay ahead. The pressure of the current market forces and the price wars have seen many companies to reduce cost by outsourcing its non-core activities to low wage service providers. A cost cut of any manner can change the company’s position in the market. Companies with low cost leadership are able to gain the potential market share. Business process outsourcing as a strategic tool has been accepted as one of the most effective means to achieve these twin goals.  Most companies now consider finance and accounting outsourcing as an important part of their outsourcing strategy.

Accounting Outsourcing and other back office activities allows firms to focus on the activities they do best and improve their overall performance and, transferring the responsibilities of accounting activities to specialized vendors can help reduce the cost and improve the performance of such activities. Accounting Outsourcing is generally considered as a very powerful tool to cut costs and improve performance. The principal idea behind accounting outsourcing is to obtain services of specialist who will perform the function better at a lower cost.

Accounting Outsourcing and India

A large number of companies are outsourcing their accounting functions to India. Fortune 500 companies such as: GE, Bank of America and American Express for example have formed partnerships with Indian firms. A recent survey found that almost two out of five Fortune 500 companies currently outsource some of their back office requirements to India. The reason for this according to most research is that it saves time, money, and better work ethics; thus, India is ahead of competitors such as China. There are many reasons for India getting the Lion share of outsourcing. Cost is the chief reason for sending business to India. But the country’s abundant manpower has made India a target destination for companies to back end their operations in India.

Other reasons for companies outsourcing to India are:

– Labor Pool – graduating 75,000 English speaking accounting professionals annually

– Cost advantage – US – $ 2500 a month versus India – $ 800-$ 1000

– Time difference – 10 hour time difference allows 24-hour service

– Thus because of its labor pool, lower cost, friendly government policies, infrastructure investment, and expertise, India is on a fast track to become a developed country.

Conclusion

Hence, hiring outsourced accounting firm is a good idea, as it not only provides effective work but also decreases the burden on the person dealing with the accounts and can focus on high end activities like consulting and tax advisory services. In fact, many small and large companies have visualized the importance and need of outsourcing accounting as it cuts down the money and time, both simultaneously. Outsourcing accounting has become a vital part of various companies for profitable reasons. With the help of outsourced accounting, business owner will be able to get a clearer picture of his business in the terms of profits and losses. Moreover, he will be able to have details on the position of business in the market.

http://www.outsourcinghubindia.com/

Ravi Shankar Singh, is a Associate: Corporate Communications & Internet Marketing in Magnon Solutions Pvt. Ltd. Delhi.


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  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).

Programs:

  • Bachelor of Science in Accounting
  • Bachelor of Science in Business - Accounting

The Secret to Getting Ahead is Getting Started

Congratulations! Your interest in Independence University is an important first step toward changing your life. A career-focused degree is the key to a new career with a potentially higher income, better benefits, and more satisfaction.

We want to help you get that degree. Consider:

1.       Start Fast, Finish Fast: You can earn an Associate’s degree in 20 months, and a Bachelor’s degree in 30 to 36 months.*

2.       Save up to $5,000 on your college degree.† You can afford college with our new Fresh Start Scholarships!

3.       Tuition Assistance: Financial aid and grants are available to those who qualify.

Programs:

  • Accounting (BS)
  • Accounting - Forensic Accounting (BS)
  • Business Management & Accounting (AAS)
  • Earn your bachelor's degree in business online with GCU to deepen your knowledge base, expand your skill set and begin your business career.
  • GCU's Colangelo College of Business offers bachelor's degrees in business information systems, applied business analytics, hospitality management, marketing and more – Take your pick!
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU provides quality training for business majors in servant leadership, ethics and entrepreneurism in order to thrive in a future career.

Programs:

  • B.S. in Accounting
  • B.S. in Finance and Economics
  • Degrees offered include Bachelor of Science in Accounting, Bachelor of Science in Business Administration, and Master of Business Administration.
  • Students are instructed in relevant business skills like communication, mathematics, and management.
  • Coursework emphasizes the development of project management, communication, decision-making, and problem-solving skills.
  • Flexible, 100% online and campus based programs available.

Programs:

  • BS in Accounting
  • BS in Accounting - Managerial Accountancy
  • BS in Accounting - Public Accountancy
  • And more...
  • Recognized in the first Best for Vets: Business Schools list in Military Times Edge magazine’s 2013 “Best for Vets” edition.
  • Offers MUSE (My Unique Student Experience), a content delivery system that gives students the option to watch, view, read or listen to required course materials.
  • Allows students to complete courses at whatever pace they want.
  • A DANTES-affiliated university and member of the Service Members Opportunity Colleges.
  • Offers IntelliPath, a proprietary learning technology that lets students learn at their own pace.

Programs:

  • Bachelor of Accounting
  • Bachelor's (BBA) - Accounting
  • Bachelor's (BBA) - Finance
  • Earn your degree online from Ashford University!
  • Choose from Undergraduate and Graduate classes
  • Business, Health Care, Psychology and Liberal Arts programs to choose from
  • Apply Now! Classes begin every Tuesday!

Programs:

  • BA Finance

CTU can help you connect to what matters most: a powerful professional network, faculty who are real-world professionals and innovative technology. And now several CTU degree programs are ranked by U.S. News Best Online Programs for 2015.  Are you in?

Programs:

  • Bachelor of Science in Accounting
  • Bachelor of Science in Business Administration - Finance
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.

Programs:

  • Business Administration - Accounting (BS) (Online)
  • Business Administration - Finance (BS) (Online)
  • Online and ground-based program areas include Fashion Marketing and Management and more.
  • Students can study branding, event management, and public relations to help them prepare for a marketing career
  • Course topics include Fundamentals of Business, Brand Strategy, Project Management, and Principles of Market Research
  • Over 50 locations nationwide, with a student support team dedicated to helping students grow
  • Join our next Open House on 2/15!

Programs:

  • Marketing & Entertainment Management (BS)
  • Fashion & Retail Marketing (AS)
  • Online bachelor's programs include BBA, Criminal Justice, IT, Healthcare Management, Pscyhology & Public Health
  • Over 115 years of delivering quality education and personalized attention to students

Programs:

  • Business Administration (BBA)