Foreign Vs Domestic Outsourced Accounting Services - What's the Difference?

The export of jobs overseas has become apackages using someone other than a company
hot-button issue in newspapers, political debates, andcourier, then you are already outsourcing and
business management. Strong feelings exist on bothunderstand the benefits of doing so.
sides and many people simply cringe when theyAny time you hire another agency to do a job for you,
consider the possibility of outsourced accountingfrom watering the plants to catering the Christmas
services.party, you are using outside labor. That is a normal and
However what many people don't understand is thatcost-effective way of doing business that has been
outsourcing and foreign jobs are not the same thing.used as long as companies have existed.
Domestic Outsourcing Keeps Jobs In The USThere are a lot of reasons companies use outside
When a company contracts for outsourcedlabor. Cost is a big one, and one of the leading reasons
accounting services, this means the service is sourcedfor offshore contracts, but not the only one.
out of the company not necessarily out of the country.One advantage of outsourced bookkeeping services
When those jobs are done be personnel in otheris expertise. Small companies in particular often can't
countries it is called offshore outsourcing. Howeveroffer benefits packages to attract the top accounting
many outsourced bookkeeping services have all oftalent and have to settle for inexperienced
their personnel based in the US. Contracting with suchbookkeepers who think accounting is nothing more
a firm is referred to as onshore or domesticthan adding and subtracting. Outside contracting means
outsourcing.your books are handled by professionals with years of
Some managers feel that jobs should be kept in thisexperience doing nothing but company finances.
country. Others may just feel conflicted, seeing merit inAnother reason companies go for this arrangement is
both sides of offshore jobs arguments and reluctant tosecurity. Hackers and viruses are one threat; natural
commit to either side. Still others may be concerneddisasters are another. But protection technology such
about public opinion if word gets out that they areas data encryption, firewalls, virus scanners, tape
moving jobs to other countries.backups (plus the cost of outside storage) all add up
Whether you are in favor, against, or neutral towardto substantial expenses.
the idea of offshore contracts, that is irrelevant to yourOutsourced accounting services means your data will
decision to contract for domestic outsourcedbe stored on secure servers and protected with
accounting services. Those jobs stay in this country.frequent offsite backups. Your data is safer just like
What Can Outsourcing Do For Your Company?your money is safer in a bank vault than under your
Does your company employ the janitorial staff? If themattress.
copier repairman is not on your payroll or if you deliver