020 7993 2949
NOW READING     Accounting Outsourcing: The Truth Behind the Misconceptions
Accounting Outsourcing
Home » Accounting Outsourcing » Accounting Outsourcing: The Truth Behind the Misconceptions

Accounting Outsourcing: The Truth Behind the Misconceptions

May 30, 2023

Accounting outsourcing has become an increasingly popular choice for accounting firms that want to streamline their financial processes and reduce costs. Despite its growing popularity, there are still some misconceptions about outsourcing that can discourage accounting firms from taking advantage of its benefits. Here are some of the most common misconceptions about accounting outsourcing and how we work to debunk them:

Accounting Outsourcing Misconceptions

Misconception #1

: Outsourcing is only for large firms
One of the biggest misconceptions about outsourcing is that it is only beneficial for large firms. In reality, outsourcing can benefit accounting firms of all sizes. Small and medium-sized firms can benefit from outsourcing as it allows them to access the same level of expertise as large firms without the same financial investment. Outsourcing can also help accounting firms to free up valuable time and resources, which can be reinvested into other areas of the business.

How Integra Global addresses this misconception:

Integra Global offers outsourcing services to accounting firms of all sizes. Our team of 500+ experienced and highly qualified accountants have experience working with firms of all sizes, from start-ups to large firms. We offer flexible, customizable accounting outsourcing solutions that are tailored to the unique needs of each client, regardless of their size or industry.

Misconception #2: Outsourcing is risky for data security

Another common misconception about outsourcing is that it is risky for data security. Many accounting firms worry that outsourcing their accounting work will put their sensitive financial information at risk. However, outsourcing can actually improve data security, as outsourcing firms have the resources and expertise to implement robust security measures that may not be available to accounting firms in-house.

How Integra Global addresses this misconception:

Integra Global takes data security and confidentiality very seriously. We have implemented a range of security measures, including firewalls, encryption, and secure servers, to ensure that our client’s data is protected at all times. We also require all our employees to sign strict confidentiality agreements and conduct regular training to ensure that our team is up-to-date on the latest security protocols.

Misconception #3: Outsourcing is impersonal and lacks quality

Some accounting firms are hesitant to outsource their accounting services because they worry that it will be impersonal and lack the same level of quality as an in-house team. However, outsourcing firms like Integra Global are committed to providing high-quality, personalized services to their clients.

How Integra Global addresses this misconception:

Integra Global’s team of experienced accountants works closely with their clients to provide personalized accounting services that meet their specific needs. We also have a dedicated account manager for each client, who serves as a single point of contact and ensures that their clients receive the attention and support they need. In addition, we provide ongoing training and development opportunities to our team members, ensuring that they are up-to-date with the latest accounting practices and technologies.

Misconception #4: Outsourcing is not as cost effective as claimed

Another common misconception about outsourcing is that it does not save as much money as some providers claim. However, it is not true and accounting firms save a lot of money through outsourcing. On an average, accountancy firms save between 50 – 70% of labour costs using outsourcing.

How Integra Global addresses this misconception:

Integra Global offers flexible pricing options, which allows firms to tailor their accounting offerings to their budget. We also offer a range of services, including bookkeeping, payroll, tax, and financial reporting, which can be customized to meet the specific needs of each individual client. By outsourcing their accounting work to Integra Global, firms can save on the costs of hiring and training in-house staff, as well as the costs associated with maintaining accounting software and equipment.

Summary:

Accounting outsourcing can be a valuable solution for accounting firms of all sizes, helping them to streamline their financial processes, reduce costs, and focus on growing their business. Despite some common misconceptions, outsourcing is a safe, secure, and cost-effective solution for accounting firms, and Integra Global is committed to addressing the concerns and needs of its clients. With our focus on data security and confidentiality, personalized services, and flexible pricing options, Integra Global is a trusted partner for UK accountancy firms looking to outsource their accounting services.

Outsourcing accounting tasks is a smart way for accounting firms to streamline their accounting processes, reduce costs, and improve their overall efficiency. However, it is important to choose a reliable and professional accounting outsourcing firm that can meet your specific needs and address any concerns you may have. Integra Global is one such firm, with a team of experienced accountants, a commitment to data security and confidentiality, and a range of flexible services and pricing options. By outsourcing their accounting work to Integra Global, accounting firms can focus on their core activities, improve their bottom line, and achieve their long-term goals.

Social Share

    Get Quote Now




    Testimonials

    Neil Hadfield

    I have used Integra Global Solutions as an outsourced accounting firm for the past 4 years. During that time, they have provided complete monthly management accounts, preparation of VAT and tax returns, submission of accounts and other regulatory material to HM Revenue and Customs.

    Neil Hadfield
    Balance The Clinic

    Accountancy Firm

    I had to be careful about choosing my outsourcing partner because of UK data protection regulations. I have chosen Integra because I am convinced that their data protection policies are stringent.

    Accountancy Firm
    Hampshire