Accounting Outsourcing Philippines

Today’s businesses often experience several challenges when scaling their operations successfully. One of the most critical elements of ensuring a stable business future is maintaining accurate financial records.

Although bookkeeping and accounting are both critical business functions, it can be hard for organizations to keep up with their business needs while still prioritizing efforts in this area. This is where outsourcing accounting functions to the Philippines can offer a much stronger, cost effective solution.The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.

And there are even better alternatives to outsourcing, like matchmaking with specific Philippines based accountants who work under your organization rather than being outsourced. We’ll walk through all the options below.

Benefits of Outsourcing Accounting to the Philippines

For businesses looking to improve the accuracy and efficiency of their accounting processes, partnering with a Philippines-based accounting firm can be a great solution. This unlocks a number of advantages for a business, including:For the purposes of this Privacy Policy:

Cost Reduction: Labor costs can vary significantly from one region to the next. While most US businesses may need to provide a large amount of resources when managing an in-house accounting team, the cost to hire professionals in the Philippines is significantly lower while still giving your business access to top-tier talent.

Increased Quality and Efficiency: When you’re able to afford more seasoned talent at a fraction of the price, the benefit is gaining access to a higher standard of quality and efficiency without breaking the bank. This leads to much more accuracy and improved outcomes for the business, while lowering the financial stress.

Scalability: One of the most significant benefits of outsourcing your bookkeeping and accounting processes is that it creates a much more sustainable format for the business. Rather than being locked down to a long-term commitment, you can evolve your accounting needs as your business changes with the current market conditions and the organization's performance.

Time and Money Savings: Human resource activities can be a financial drain on all types of organizations. The cost to actively recruit, hire, and train employees takes time and money while also impacting the business’s ability to focus on mission-critical activities. Outsourcing is a much more streamlined way to handle staffing needs, while allowing organizations to reinvest their hiring resources into more important areas of the business.

Cons of Outsourcing Accounting to the Philippines

Although outsourcing the accounting process can be a great option for most businesses, some potential downsides should be considered. This is especially the case when working with an unverified outsourcing partner.

One of the major concerns for organizations is a lack of direct control and oversight for remote working staff members. Not only does this raise questions about actual performance, but it can also create a number of challenges when it comes to communication and collaboration.Although outsourcing the accounting process can be a great option for most businesses, some potential downsides should be considered. This is especially the case when working with an unverified outsourcing partner.

Another potential challenge for some businesses is data security. It’s critical for businesses to only choose reputable outsourcing partners they can trust when releasing highly sensitive financial data. Still, these issues can be successfully mitigated using the right tools and working with quality processes and partners.

A Better Alternative to Outsourcing

Philippines Accountant offers a much more effective alternative to traditional outsourcing processes. Using our unique matchmaking services, we’re able to provide you with the following benefits:

Cost-Effective Access to Top Talent

We connect businesses with highly skilled CPAs and other accounting professionals located in the Philippines. Navigating the large talent pool overseas, we’ll hand-pick quality professionals to work for your business at a fraction of the cost of hiring an accounting team locally.

Expertise Matched to Your Business Needs

It’s important to remember that not all accounting professionals specialize in the same areas. As a growing business, your organization must gain access to professionals who understand your industry and the specific financial requirements relevant to you. We take the time to understand and appreciate your business needs while sourcing professionals who can support you best.

Full-Service Finance and Accounting Solutions

At Philippine Accountant, we have full access to a team of accountants that cost nearly 70% less to hire than in the US. This gives you the budgeting flexibility to create a full-service financing and accusing solution for your business.

Working With Philippines Accountant

Many traditional outsourcing methods involve working with larger, disconnected firms that may not fully understand your unique business requirements. At Philippines Accountant, we’re happy to bring a much more personalized approach to your accounting staffing needs:

Cost-Effective Matchmaking Services: Labor costs can vary significantly from one region to the next. While most US businesses may need to provide a large amount of resources when managing an in-house accounting team, the cost to hire professionals in the Philippines is significantly lower while still giving your business access to top-tier talent.

Specialized Roles: Modern accounting teams often comprise various specialists to help a business scale successfully. Philippines Accountant helps organizations gain immediate access to payroll specialists, financial analytics, accounts payable/receivable staff, accountants, and other roles critical for establishing a solid foundation for the business.

Flexible and Efficient Outsourcing Processes: Our flexible engagement model gives you the freedom to get the accounting support you need while minimizing the amount of legwork you need to invest. Our remote team will handle all of the stress of managing and staffing your accounting team while saving you time and resources along the way.

And working with us is easy. We’re so confident we offer a contract to hire plan, which is as follows:

For the first 6 months we employ your accountant, but they work exclusively for you:
‍The rate amounts to $20/hour and you’ll be able to select a candidate, identify any skills gap and help you bring them into your business
After the 6 months, you’ll be able to direct hire the candidate for 30% of the candidate’s starting salar

This way you only invest in a direct hire after you’re satisfied with the results of our candidates and see their actual work for you business before making a commitment to them.

About Philippines Accountant

We’re a full service recruitment firm that matches you with experienced and talented Philippines based accountants. Our custom-made KPIs either ensure your accountant’s success within the first 90 days of the job or we’ll do another search free of charge. Because Philippines Accountant takes the guesswork out of performance. Trust us – when the values of your team align, the sky’s the limit.

If you’re ready to start simplifying your hiring processes while finding the highest quality Philippines-based accounting professionals for your business, contact us today.