Are you struggling to find the right talent for your ERP accounting team? Are you looking for ways to optimize your budget while still maintaining control over the quality of your team's work? 

Offshoring your ERP accounting staff may be the solution you need.

Expanding your talent pool globally allows you to access a wider range of candidates with specialized skills that provide value to companies worldwide. 

Offshoring also offers savings of up to 67% compared to hiring locally, allowing you to devote more staff to your team within the same budget. 

Additionally, offshoring can provide access to a global talent pool, making hiring easier for most accounting firms.

Offshoring your ERP accounting staff may seem daunting, but with the right communication platforms in place, collaborating with a remote team can be just as smooth as having a team down the hall. 

Understanding Offshore Accounting

Offshoring accounting tasks may be your solution if you want to save costs, increase efficiency, and access global talent. 

Offshore accounting involves hiring skilled professionals in different geographic regions to join your in-house team. 

These remote staffing team members work exclusively for your accounting firm and adhere to its policies and procedures.

Benefits of Offshoring Accounting Tasks

Offshoring accounting tasks can provide several benefits for your firm. One of the primary advantages is cost savings. 

Hiring offshore professionals can be significantly cheaper than hiring locally. Additionally, offshore professionals can offer global talent access, bringing your team new perspectives and ideas. 

Offshoring can increase efficiency by delegating non-core tasks like data entry and payroll processing to external professionals.

Offshoring accounting tasks can also provide flexibility. By hiring offshore professionals, you can scale your team up or down as needed, which can be especially useful during peak periods. 

This flexibility can help you manage your resources and keep your team productive.

Key Offshoring Destination

When it comes to offshoring accounting tasks, the Philippines is one of the most popular destinations. 

Both countries have a large pool of skilled professionals with experience in bookkeeping, tax preparation, and other accounting tasks. 

Additionally, the cost of living in the Philippines is lower than in many Western countries, making it more affordable to hire offshore professionals.

The Philippines is known for its strong work ethic and high level of customer service. The country has a large pool of college-educated professionals, many of whom have experience in the accounting field.

Setting Up Your Offshore Accounting Team

When setting up your offshore accounting team, several key factors must be considered. 

Following these steps ensures that your team is productive, compliant, and integrated with your existing onshore team.

Recruitment and Talent Acquisition

Recruiting the right talent is crucial to the success of your offshore team. 

You should work with a reputable offshore staffing agency with access to a large talent pool of skilled professionals, including accountants and CPAs. 

The agency should be able to provide you with resumes, conduct initial interviews, and handle the logistics of hiring.

When hiring, always consider cultural fit as well as technical skills. You should also ensure that your offshore team complies with local laws and regulations, including tax and labor laws.

Training and Integration

Training and integration are key to ensuring that your offshore team is productive and integrated with your onshore team. 

You should provide your offshore team comprehensive training on your ERP system and accounting processes. This will help ensure that they can work effectively and efficiently.

Communication is also critical to integration. You should establish clear communication channels, including video conferencing, email, and instant messaging. 

Regular team-building activities can also help build rapport and foster a sense of community.

Technology and Infrastructure

Technology and infrastructure are critical to the success of your offshore team. You should ensure that your offshore team has access to the necessary hardware and software, including ERP systems, accounting software, and data security tools. 

You should also ensure your offshore team can access high-speed internet and other necessary infrastructure.

Data security is also a critical consideration. You should ensure that your offshore team has access to secure communication channels and follows best practices for data security and confidentiality.

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Operational Management of Offshore Staff

When it comes to managing your offshore ERP accounting staff, there are a few key things to keep in mind to ensure that your operations run smoothly. 

In this section, we'll cover two critical areas of offshore staff management: maintaining quality and compliance and effective communication strategies.

Maintaining Quality and Compliance

One of the biggest concerns with offshoring ERP accounting staff is maintaining quality and compliance. 

Establishing clear quality control processes and procedures is important to ensure that your offshore staff meets the same standards as your onshore staff. 

This can include regular work auditing and ongoing training and development to ensure that your offshore staff is up-to-date on the latest accounting practices and regulations.

Another important aspect of maintaining quality and compliance is ensuring that your offshore staff is familiar with your company’s and clients’ specific requirements. This can include specific reporting requirements and any industry-specific regulations that may apply. 

By providing clear guidelines and expectations, you can help ensure that your offshore staff delivers high-quality work that meets your and your client’s standards.

Effective Communication Strategies

Effective communication is essential when managing offshore ERP accounting staff. 

Establish clear communication channels and protocols to ensure everyone is on the same page, given time zone differences and other logistical challenges. 

This can include regular video calls, email updates, and instant messaging to keep everyone updated on the latest developments.

In addition to establishing clear communication channels, fostering a culture of open communication and collaboration is essential. This can include regular check-ins with your offshore staff to discuss progress and any challenges they may face. 

Building solid relationships with your offshore staff and encouraging open communication ensures everyone works together effectively and efficiently.

Evaluating the Impact of Offshoring

When considering offshoring ERP accounting staff, evaluating the potential impact on your business is important. Two key areas to consider are cost analysis and savings, as well as performance metrics and effectiveness.

Cost Analysis and Savings

Offshoring ERP accounting staff can provide significant cost savings for your business. 

By utilizing global talent, you can access a pool of skilled professionals at a lower labor cost, allowing you to reduce your overall budget for accounting services.

However, considering the potential costs associated with offshoring, such as training and communication expenses, is important. 

Ensure that the offshoring provider is reliable and trustworthy to avoid potential financial or reputational risks.

Calculating the initiative’s return on investment (ROI) is important for evaluating the cost savings of offshoring. 

This can be done by comparing the cost of offshoring to the cost of in-house staffing and determining the payback period for the initial investment.

Performance Metrics and Effectiveness

In addition to cost savings, offshoring ERP accounting staff can also improve productivity and efficiency. 

By delegating non-core tasks like data entry and payroll processing to external providers, you can free up internal resources to focus on more strategic initiatives.

To evaluate the effectiveness of offshoring, it is important to establish performance metrics and track progress over time. These can include metrics such as the accuracy and timeliness of deliverables, client satisfaction, and retention rates.

It is also important to maintain strong client relationships throughout the offshoring process. Clear communication and collaboration between offshoring providers and internal teams can help ensure client expectations are met and exceeded.

Conclusion

Offshoring ERP accounting staff can be a cost-effective and efficient way to manage your accounting needs. 

By outsourcing non-core tasks such as data entry and payroll processing, you can focus on more important business operations and strategic planning.

It is crucial to carefully evaluate your offshoring options and choose a reputable provider with experience in ERP accounting. 

Transparent communication and involvement of your staff in the decision-making process can also help ensure a successful transition.

Atticus Solutions is a trusted provider of offshoring services for businesses of all sizes. 

Our experienced team can help you navigate the offshoring process and find the best solution for your business needs. 

Book a call with us today to learn more about how offshoring can benefit your business.

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