Many businesses nowadays opt to outsource some, or all of their work requirements to countries like India, and offering as many advantages as it does, it’s easy to see why CPA firms are also doing it. 

With the quality of outsourced services being so high, especially in India where it has a surplus of talented and highly qualified professionals, CPA firms are able to entrust their bookkeeping and accounting responsibilities to them, while focusing on providing their clients with higher value services; in turn, being able to expand and increase revenue.   

Unsure whether outsourcing tax preparation to India is the right move for your CPA firm? Let’s take a closer look at some of the advantages:

India’s IT and software industry is booming

Far ahead of many other countries in terms of IT and software development, India has become one of the world’s leading destinations for outsourcing and offshoring. Add to that the fact that the majority of accounting professionals in India are familiar and up-to-speed with the latest software for accounting, and you’ve got teams who can cater to your every need, quickly and with high levels of accuracy. 

India has a highly skilled workforce

While it’s true that outsourcing to India is a cost-effective solution for accountants, this by no means reflects the quality of work outsourced professionals are able to produce. India has an abundance of highly qualified individuals, particularly in the accounting industry, and with all of them keen to earn a living, offshore agencies are bursting at the seams with talented accountants and bookkeepers. 

India’s costs are significantly lower

Being a developing country means that the cost of living in India is far lower than in countries like the U.S., and labor costs are also lower than in developed countries. With this in mind, U.S. based accountants are able to benefit from a skilled workforce at a significantly lower cost than if they were to hire accountants and bookkeepers at home.

Indian people have excellent English-speaking skills

Ranking highly in the English Proficiency Index, Indian professionals typically have great English-speaking, reading, and writing skills, meaning that when you outsource accounting work there, there should be few, if any communication issues. They also use popular accounting software with English user interfaces, leaving even less room for confusion or mistakes. 

The time zone is advantageous

Favorable time zone differences between the U.S. and India, offer benefits to both parties. With India being 9.5 hours ahead in time, you can request work to be carried out by an outsourced professional in India at the end of the working day in the U.S., and it’ll be ready and waiting for you first thing the next morning. 

Staffing becomes flexible

Should your CPA firm be in the throes of expansion, for example, outsourced accounting solutions offer you the chance to increase your workforce to meet demand, without any of the costs associated with hiring in-house professionals. Should you need to scale down your business for any reason, on the other hand, outsourcing to India also enables you to do that with ease, and without having to make people redundant. 

Hiring in-house accountants is by no means the only way for CPA firms to manage their workload as they expand, or simply cope better during busy periods of the year. If your CPA firm chooses to outsource bookkeeping services to India, it could soon be reaping all of the rewards listed above, and quite literally, change the rules of the game, for the better.