Breaking Outsourcing Stereotypes Regarding Bookkeeping

Breaking Outsourcing Stereotypes Regarding Bookkeeping

The common assumption about outsourcing is that it generally involves call centers, customer support, manufacturing processing and similar. Few automatically think of outsourcing as viable for accounting.

However, thanks to the Internet and digital formats that are easily transferrable, as well as the fact that the process of accounting is standardized regardless of nationality of where the work is completed, bookkeeping and related work can be easily handled remotely today, especially with the capacity and depth of cloud tools online now.

So why isn’t it used more? Much of that still has to do with the business culture that believes certain practices can’t be outsourced. These myths have held companies back until 2020 came along.

Opening Eyes and Operations

Thanks to a pandemic that forced everyone to work separately, the business world was required to use remote work, hybrid setups and outsourcing as a reality for at least two years. That broke a lot of stereotypical thinking regarding outsourcing in every business area, including accounting.

As a result, many companies today have reconsidered how they approach bookkeeping and similar, especially for periodic surge workload that happens, such as scheduled payroll, reporting, tax reporting and archive transaction recording.

Solving the Skilled Hiring Problem

As was vividly realized in 2021, when a wave of skilled employees begin to retire, separate or leave, it creates a cascading problem of worker shortage. Unlike many other areas where people can be trained quickly, bookkeeping and accounting take time and monitoring to develop in staff.

Additionally, they already need to come in the door with at least formal bookkeeping training prior to being employed in many cases. No surprise, a worker shortage and lack of skilled candidates can create a big problem for a business quickly. Outsourcing helps relieve this crisis right away, keeping a business on track as well as giving it time to hire the right staff in-house without heavy pressure that can result in poor choices.

Watching Others Move Ahead Spurs Business Change

While small businesses had no choice but to be nimble and outsource immediately, larger companies have been slowly adjusting to the ongoing remote approach in accounting, particularly with outsourcing workload.

Again, many of the traditional fears of work being too difficult to understand, language, and protection of data have been effectively addressed, and proactive management in some companies have been actively testing and trying out remote outsourced support, especially during periods of high workload demand and hard deadlines.

Fortunately, there’s never a bad time to start onboarding outsourced bookkeeping service MyRQB. Their ability to scale up to need quickly, providing viable expertise for even the toughest of projects has proven itself repeatedly.

So now, the real business question is not whether to outsource bookkeeping, but really more about when companies will get started saving money and managing bookkeeping more effectively.

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