When it comes to running a business, business owners and founders want to make sure that everything runs smoothly and without faults.Accounting and financial compliance is a critical corporate activity that must be handled correctly. In short, if a corporation wants to grow successfully and increase exponentially, its accounting and financial compliance functions must perform like clockwork.
Outsourcing accounting and IT tasks accounts for 37% of all accounting and IT tasks.
Digital marketing duties come in second at 34%, followed by development and human resources at 28%.
Why Is It Beneficial to Outsource Accounting Services?
Outsourcing your accounting services is another excellent option to gain flexibility in your expanding company. Companies that outsource their accounting function might benefit from expert reinforcement and financial guidance from trained professionals to help them achieve their growth goals.Bangladesh is only one example of a country that excels at professional outsourced accounting and finance services. If you're seeking a partner to help you with all of your accounting needs, look no further.
The Demand of Accounting Outsourcing
This essay will demonstrate why Bangladesh's outsourced accounting services are a professional and cost-effective alternative for both international and indigenous organizations.
Domestic and International Companies Can Benefit from Outsourcing.
International outsourcing occurs when a company registered and operating outside of Bangladesh delegates some accounting and finance activities to a corporation in Bangladesh.
This enables expert accounting and financial support and guidance to be accessed from a global pool of expertise and resources.
In these situations, a company may keep tax compliance and payroll in-house while outsourcing day-to-day bookkeeping and accounts payable or receivable work to a Bangladesh-based outsourced accounting provider.
In any case, Bangladesh has quickly established itself as a top choice for accounting and finance services for both domestic and international enterprises across a wide range of industries.
Interested? Continue reading to see why outsourcing accounting services to Bangladesh could be the ideal solution for your accounting and financial needs.
6 Reasons Why You Should Outsource Your Accounting and Finance Function to Bangladesh
You can expect your finances to be handled with the highest care, thought, professionalism, and precision when you outsource your accounting and finance needs to an accounting services provider in Bangladesh.Here are just a few reasons why outsourcing accounting and finance to a Bangladeshi accounting firm can offer genuine value to both domestic and international businesses:
Talent pool with a lot of experienceMany BD aspire to work in the finance industry as professionals. Each year, more than 100,000 students enroll in the Bachelor of Science in Accountancy program across the country, according to records.
In addition, Bangladesh has approximately 175,000 certified public accountants (CPAs), with the number of registered professionals continuing to rise! The country has a large pool of individuals with the necessary skill set and knowledge.
This rising population of accounting and finance specialists can assist both domestic and international businesses.
Reduced operating costsBangladesh offers some of the most cost-effective business process outsourcing (BPO) services in the world.In comparison to other nations, such as the United States, an average hourly rate for premium support could range from $12 to $14, which is up to half the cost.
Outsourcing accounting services in Bangladesh also helps businesses save other operating costs such as equipment, training, and government statutory overhead charges.These costs will be covered by the outsourced accounting services provider.
The technique was meticulously detailedBangladesh have a sharp eye for detail and process when it comes to getting the job done, in addition to providing quality work at a very affordable price.
This is critical when it comes to completing everyday accounting activities and delivering deliverables, especially during peak seasons like audit season. Accounting firms in Bangladesh can provide a service that is handled by professionals who are process-oriented and process-focused.
Such a feature can not only help organizations with their accounting and finance compliance obligations, but it can also help them improve their overall operations and streamline their financial procedures and controls.
Work ethic that is unrivaledIn accounting, especially in the outsourced services sector, a strong work ethic is essential. This is only one of the numerous qualities that Filipinos in the corporate world are known for.
BD have been pushed as very adaptable and quick learners by a number of successful business leaders, particularly when working with overseas clients – and accountants and bookkeepers are no exception!
Compatibility of culturesBangladesh provides not only cost-effective services but also great work culture compatibility and top-level communication abilities to both local and foreign businesses.
FlexibilityThe Bangladeshi workforce encourages and supports flexibility in the workplace.Outsourcing your accounting needs domestically as a local business means receiving an extension of your staff that can align with your operations while everyone is reporting to work.When dealing with an outsourced accounting partner, you can take advantage of the Philippine labor system's structure for paid overtime work.
Bangladesh is a Great Place to Outsource Your Accounting Services.
Having specialists handle your accounting responsibilities is critical to maintaining consistent quality and timely production.
Putting together an in-house accounting team can take a lot of time and resources, not to mention money! As a result, outsourcing your accounting services might be a terrific choice and bring value to your firm. Partnering with the appropriate accounting firm can make all the difference in your company's growth.
Contact CallcenterBD if you're seeking an outsourcing provider of accounting services in Bangladesh. With its dedicated team of experienced accountants, bookkeepers, and tax specialists, CallcenterBD is a cloud accounting firm for startups and SMEs that can help take over your financial function.
Please get in touch with us if you'd like to learn more.