| From the last decade, India has been spearheading a | | | | 9001:2001 to assure clients on quality. |
| silent revolution in the world. The revolution, now known | | | | Now coming down to the cost aspect, it has been |
| as outsourcing began in an insignificant manner in the | | | | proved times and again that India derives its |
| 1980s by several European airlines that started using | | | | competitive edge over other outsourcing destinations |
| New Delhi as a base for back office operations, has | | | | owing to its vast pool of extremely talented human |
| now turned into an entire industry encompassing in it | | | | resources. This is also true for the accounting sector. |
| services ranging from information technology to | | | | An estimate puts that of 8000 qualifying accountants |
| financial services and even manufacturing. Today, India | | | | every year, around 22% choose to join the |
| stands synonymous to outsourcing in the international | | | | outsourcing companies. With this kind of expertise |
| arena. A recent survey by Duke University of 537 | | | | available, any company can stay relaxed and |
| companies across the world confirms that 45% of | | | | concentrate itself in developing its core competencies. |
| them prefer outsourcing to India in order to get ahead | | | | And the cost advantage that derives to a company |
| in the competition and save costs. | | | | by outsourcing its bookkeeping services is phenomenal, |
| In the same context outsourcing of accounting and | | | | up to 50% .A company saves not only on the salary |
| bookkeeping services to India has risen steadily over | | | | of the staff but also on other overheads as cost of |
| the past few years with countries and companies | | | | taxes, health insurance, liability insurance, computers, |
| preferring India as the destination to offshore their | | | | cubicles and much more, depending on the perks on |
| books of accounts. Companies outsourcing their | | | | offer. |
| books, find an India based ITES-BPO center in financial | | | | Other benefits that trickle down to companies |
| service sector, performing better than others on | | | | choosing to outsource to India include: |
| significant factors such as the number of correct | | | | •Large pool of computer literate and English |
| transactions/total umber of transactions, total | | | | speaking professionals: With over 4 million highly trained |
| satisfaction factor, number of transactions per hour | | | | English speaking technical personnel (second only to |
| and the average speed of answers. Thus clients get | | | | the USA),India is the best place to answer your |
| real time access to skilled people who directly benefit | | | | bookkeeping worries. |
| them with superior services. Apart from this clients | | | | •More capital funds: Outsourcing reduces the need |
| also do away with their staffing worries during peak | | | | to invest capital in non-core business functions, thereby |
| season. | | | | freeing capital to invest in profit-making aspects of the |
| Accounting is the most sensitive aspect of every | | | | business. |
| business. The data that are exchanged with an | | | | •India has a stable political environment and pro-IT |
| outsource partner are often the data, on which the | | | | government which gives ample support for business to |
| existence of the entire business depends. This | | | | thrive. |
| sensitivity of data is what deters many a company to | | | | •Reliable satellite and submarine communication links |
| opt for outsourcing services. However many | | | | facilitate good broadband connectivity with the rest of |
| companies in India acknowledge these concerns of | | | | the world. |
| their clients by incorporating internationally accepted | | | | With so many advantages to offer, it is hardly |
| standards of quality assurance like ISO. A NASSCOM | | | | surprising that India has gained prominence in the |
| survey accentuates that 50 percent of Indian | | | | international arena as specialized outsource service |
| companies have implemented varied levels of ISO | | | | provider. |
| such as ISO 9002, ISO 9001, and ISO 9001:2000, ISO | | | | |