How to do Accounting Outsourcing in the Philippines
- A Freelance Accountant
- Earning more then $100K in revenue
- Feeling overwhelmed
- Out of Capacity
- Spending more time at work and less time with your family or the things that you love
Then maybe its time to consider Accounting Outsourcing.
What is Outsourcing?
Investopedia explains Outsourcing as the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company’s own employees and staff.
So in terms of Accounting, this could be your bookkeeping, tax preparation, administration (like calling the ATO or acknowledging and replying to your clients emails), etc being outsourced from where you are to either another firm within or outside your country that provides the same or even better quality services at a more cost-effective price.
Though there are many other BPOs in the world, and the processes of Outsourcing might be different, let me share with you how we, as Accodex, do our Outsourcing.
Where to begin?
The first step to your outsourcing is partnering with a legitimate company that you can trust and help you with:
- IT Set-up/ Maintenance and Desk Hire
- HR-Related Services
Accodex have proudly partnered with a Business Process Outsourcing (BPO) Company called Frontline Philippines which provides not only Accounting services but they have also ventured out in Marketing, IT and Administration.
“The first step to your outsourcing is partnering with a legitimate company that you can trust and help you with”
Onboarding and Continuous Learning & Development
The difference in culture could be a barrier or a blessing, depending on how you perceive and use it. That is why it’s important to know and embrace the Filipino culture starting from the onboarding to make the most out of your partnership.
At the same time, Philippine Tax is very different from Australian or American Tax that’s why learning and development are crucial. We provide in-house Accounting Training to our Philippine Associates and their Accounting Partners supplement an in-depth training based on the services they provide.
Being at the forefront of Accounting Technolgy has paved the way to provide quality learning and development to our team in the Philippines because all of our training materials are accessed through the cloud.
Filipinos are very passionate and hard working. Quite literally, they will do anything for you because they are loyal and committed. How do I know, cos I am a Filipino too. That is why I know how important it is to nurture the relationships between Partners and Associates.
At Accodex we hold huddles with the team daily to talk about workflow but also take the time to ask about how they are and their families. We set goals with them and follow them up because we want to be a part of their milestones and successes.
“We set goals with them and follow them up because we want to be a part of their milestones and successes.”
At Accodex, Outsourcing is not just about cutting costs and business growth, but it’s about partnerships and family. Its understanding that when you hire a Filipino employee across the shore, you are also changing their lives forever.
In my next blog, I’ll share with you why Accodex chose to partner with a BPO rather than hire a team ourselves.
Written By: Lindsay Menguita
Chief Learning Officer