Outsourcing companies - how to choose your provider
Benefits of outsourcing for accounting and bookkeeping include, improved productivity, efficiency, retention rates and staff satisfaction. It’s a process that can save your firm up to 70% on employment costs compared with hiring talent locally. However, choosing the wrong outsourcing provider can be detrimental to your success.
Selecting a provider with values that align with your business objectives is the ultimate goal. Doing so will ensure your outsourcing journey is nothing short of successful. How do you know you’re choosing the right outsourcing provider? Start by asking the right questions. These questions should drill into their operations so that you’re left with a thorough understanding of how they operate. Some of these questions may include:
- Can you detail your standard security policies and infrastructure to manage data, security and privacy?
- What tools do you have in place to ensure staff members remain online and productive 100% of the time?
- What productivity reporting do you provide as a standard?
- If things are not working out, what is the notice period and termination fees?
- How does your recruitment process ensure you find the best candidate for my role?
This step is absolutely crucial in ensuring your outsourcing journey is a success. Remember, not all outsourcing providers are the same. They all have different protocols, facilities, T&Cs and contracts. Analyse, compare and choose the provider that resonates with your firm the most.