A perspective of Mainstream Media on Outsource Bookkeeping
Governments, investors, and stakeholders hold varied opinions regarding outsourcing for book-keeping services. Governments have issued protectionism measures to control the rate at which business are outsourcing for book-keeping services. There are grapevine information and different arguments for and against outsourcing for book-keeping services.
Some of the Mainstream Media conception on outsourcing bookkeeping service include:
1. Outsourcing means going abroad.
When you talk about ‘’outsourcing for book-keeping services in India’’ many misunderstood this to literally mean traveling to India. Others swap the term ‘’outsourcing ‘’ for ‘’overseas’’. By definition, ‘’Outsourcing’’ implies importing services from other countries. There is a fine in that separate the latter with ‘’ importing your services and goods to offshore country’’. Furthermore, this doesn’t necessarily qualify for geographical mobility of workers from outsourced country to native country. Thus when you hear of the term ‘’outsourcing’’, don’t think that non-natives are coming to take your jobs.
2. You have Inadequate Funds
The fast the clock ticks –whether clockwise or counter-clockwise reflects either loss or profit for your business. If there is no adequate infrastructure to get the job done, it will be logic to look for somewhere else. That’s doesn’t mean you are unable to afford native pay. Furthermore, you are in business for some reason you are good at it –or you willing to take the risk. That’s doesn’t make you a book-keeper. If you apply the principle of division and specialization of labor, you have divided task to focus on what you can do best. Outsourcing for book-keeping services implies you can guarantee accuracy and efficiency and provides adequate time to focus on something else.
3.Outsourcing Guarantees Privacy
It’s true. If you outsource for book-keeping services, one can keep confidential book-keeping information private. If your company registers drastic loss –yet it’s a multinational, you can conceal the information if you used bookkeeping outsourcing services. Local book-keepers cannot guarantee that they can sell information to news outlet which may further affect your shares and other affiliated businesses. Furthermore, there is technology advancement that guarantees book-keeping data security like blockchain and cloud hosting. There are other blockchain application inn different ICOs that will revamp the nature of booking and data security. Comparing the latter with office or book-keeping, you will know where to place your bet.
You Have Trust Issues
From one point of view, it seems you don’t trust your workers and careless about them. Have you wondered why a business and the owner are separate entities? Yet from a layman’s view capital is an asset. Capital is a special entity from the owner. You own the business but not capital. There should be a proper channel for disseminating business information and if outsourcing for book-keeping services guarantees security, don’t mind about trust issues. You are working together because they trust you to make good decisions.