By Janita Kapoor
The term ‘outsourcing’ is derived from ‘outside resourcing’. It involves the contracting-out of a business process or service to a third party.
Jobs are outsourced domestically and, increasingly, to professionals in another country (called nearshoring and offshoring).
The most effective form of outsourcing is hiring a member of staff to work for you full-time. This person is like an employee, just without the expense and hassle associated with recruiting, training, managing and providing equipment or office space.
Outsourcing to dot comes with the added benefit of technology; all of our dotPros are trained to use powerful software that will improve the efficiency and efficacy of your accounting at the same time as filling a resourcing need.
The potential cons are if you choose a cheap provider, or one without an established track record in accountancy outsourcing as this can really cost you in the long run because you end up spending more time rectifying mistakes than doing actual client work.