<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">In today’s business culture, outsourcing various services has been observed prominently. Businesses are continuously outsourcing several services nowadays to eliminate the need of employing in-house workers.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">Accounting services are among the most commonly outsourced services by many businesses these days. With an outsourced accounting service, you can save the costs of hiring full-time accountants and incorporate versatility.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">Many businesses are already aware of the benefits that come with outsourcing. However, some are still reluctant to outsource accounting services.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">If it is your first time outsourcing an accounting service, several factors must be considered to ensure you make the right choice. Some of these factors include the following:</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">1.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Scope of Accounting Works</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">It is important to determine which </span><span lang="EN-US"><a href="https://www.boardroomlimited.com/services/accounting/" target="_blank" rel="noopener"><span style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: 'Times New Roman'; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin;">accounting outsourcing</span></a></span><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;"> services you want to consider. The best way to do this is to make a list of all your requirements.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">To get started, first examine your existing accounting system as well as shortlist its limitations and the goals you want to achieve.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">One of the major causes of outsourcing failure is a lack of clarity in the scope of work and requirements. Giving clear requirements for your business will help you get the best results from a service provider.</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">2.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Needs</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">During onboarding processes, it will be best to be open with a potential outsourced accountant on accounting services you need help with. This will help you make an informed decision.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">As a client, you will also want to be transparent and truthful about the current situation of records and books. And if you don’t know, consider directing them to a person who does.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">This process of onboarding needs to be an overview of what you want to gain from outsourcing accounting services.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">The main goal of this onboarding process is to get a clear alignment of what is going to take and where you wish to be.</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">3.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Market Reputation</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">Looking at the reputation of your potential partner is vital, as no organization may afford quality. The best approach is to consider researching the market as well as looking at the service provider’s reputation and credentials.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">If you have time, go through companies in your list and connect with several clients who had outsourced services before from them. This way, you will have an idea about a service provider’s capability.</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">4.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Technology</span></h2>
<p style="margin: 0cm; line-height: 150%;"><strong><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">Accounting outsourcing</span></strong><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;"> in Singapore should be a refined solution to simplify bookkeeping practices. When enlisting the services of an accounting provider, it will be best to look at the technology and methods the expert uses when managing accounting activities.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">It is always best to go for an accounting company that uses modern technology to offer services. The more a service provider uses technology, the less likely they are to make mistakes.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">Like every business owner, you desire error-free solutions, which are only achievable with the use of modern technology. In addition, accounting companies that use fewer technological advancements for different accounting needs can slow down your daily business operations.</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">5.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Check-ins and Communication</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">Based on the scope of outsourcing accounting, there are several ways to establish regular check-ins and communication with your preferred service provider.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">However, a perfect way of achieving this is to lay a concise yet detailed task parameter or KPI to guide accountants to fulfill their promises and guarantee the following:</span></p>

<ul style="margin-top: 0cm;" type="disc">
 	<li class="MsoNormal" style="color: #0e101a; margin-bottom: 0cm; line-height: 150%; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt;"><span lang="EN-US">Integrity</span></li>
 	<li class="MsoNormal" style="color: #0e101a; margin-bottom: 0cm; line-height: 150%; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt;"><span lang="EN-US">Efficiency</span></li>
 	<li class="MsoNormal" style="color: #0e101a; margin-bottom: 0cm; line-height: 150%; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt;"><span lang="EN-US">Accuracy</span></li>
</ul>
<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">6.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Transparency</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">The first time you reach out to an outsourcing accounting company and inquire more about them, closely observe whether they are ready to share more details to determine their dependability. A reliable service provider won’t be reluctant to show you their technology partners, staff density, certifications, and the abilities they have.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">Another thing that should be transparent is the process of managing projects. Again, you need to collect vital details about how a service provider examines your needs, understands your organization’s processes, and analyzes the scope of their accounting services.</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">7.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Scalability</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">As your company expands, experts at <b>BoardRoom</b> suggest that you outsource accounting services from a partner that may grow with you. You wouldn’t want a company that outsources services for small clients and have never ever experienced growth.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">This makes them unable to deal with your accounting needs when you need their help. So it is best to determine what type of growth the service provider has experienced and whether they can meet your future requirements.</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">8.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Infrastructure</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">You should determine whether or not your service provider has the necessary infrastructure. This could be the technology and resources required to address your accounting needs adequately.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">This should also include a qualified and experienced team that understands new accounting regulations very well. Your service provider must as well be reliable enough to deal with all emergencies.</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">9.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">      </span></span><!--[endif]--><span lang="EN-US">Qualifications</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">There are numerous accounting companies from which you may outsource accounting services. One of the most common ways of differentiating different accounting companies is to compare the service they offer and the qualifications they have.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">For example, if you want an accounting service provider to handle matters related to your company’s tax return, look for a company specializing in tax services and laws.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">Looking at the qualifications of several companies in Singapore shouldn’t be a problem because such details are available on their websites.</span></p>

<h2 style="margin-left: 36.0pt; text-indent: -18.0pt; mso-list: l0 level1 lfo2;"><!-- [if !supportLists]--><span lang="EN-US">10. </span><!--[endif]--><span lang="EN-US">Security</span></h2>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">The data security of a potential accounting <a href="https://www.inbusinessworld.com/why-building-a-brand-is-vital-for-your-company/">company</a> is a great concern for most business owners looking to outsource most of their accounting tasks. As with your in-house team, you need to exercise maximum caution with your data security.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">To prevent a security breach, you will have to examine references and ensure the outsourced accounting company can meet the important security procedures.</span></p>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">You must consider several factors when evaluating a service provider's encryption techniques. You will also need to look at the measures a service provider uses to keep track of data and location.</span></p>

<h3><span lang="EN-US">The Bottom Line!</span></h3>
<p style="margin: 0cm; line-height: 150%;"><span lang="EN-US" style="font-size: 11.0pt; line-height: 150%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #0e101a;">The importance of developing a fully-fledged accounting staff is directly proportional to your company’s growth. In order to manage receivables/payables and maintain records, your business will need to hire a good accountant or outsource accounting services from a reliable company. But outsourcing accounting is more affordable and convenient than hiring an in-house accountant.</span></p>