What is outsourcing?
"Outsourcing" refers to the use of third party service providers to assist in the delivery of services. Strategic control remains with the main company while the procedural control (i.e. the day-to-day functions) is completed by the service provider. By using the offsite computer systems and data entry personnel of third party service providers to perform basic tasks within the preparation process, accounting firms can provide services more efficiently and effectively.

It makes sense even for CPAs to outsource routine accounting and use the scarce and highly paid staff for other 'value addition' jobs. This way the fees to client remain in control, giving substantial contribution to CPAs since the lower end job of accounting gets done at a much economical rate.

How can outsourcing help?
Outsourcing will assist you in
- Obtaining timely and accurate information
- Getting the best of the latest technology
- Reducing costs· Focusing on your core competencies and freeing resources to concentrate investment in core areas.
- Obtaining access to a larger number of skilled personnel at reduced cost