As the world becomes increasingly “flat,” it has become clearer that functions that were once performed in the next room or a floor away, can now be done from around the world.
Forward thinking business owners and executives are now taking advantage of the lower wages in other countries. In addition, outsourcing providers of services gain valuable experience they incorporate best practices and help make any late adopters more efficient.
At 3Alpha, we are taking advantage of both developments to provide a low cost and best practice solutions for accounting, finance and bookkeeping departments worldwide.
Shipping work overseas is hardly groundbreaking; manufacturers have traditionally contracted out to keep costs down. Now, providers of professional services are embracing the trend, as the unemployment rate decreases, finding those who can fill in when work is heavy can be difficult and expensive. Setting aside the wage differential, savings also include benefits, insurance and other overhead.
But it is not always the cost that drives these initiatives. Staff shortages during busy periods disrupt workflow. In addition, if you can transfer low value work offshore you can free your star bookkeepers and accountants to concentrate on more interesting and challenging work on shore.