Tag Archives: offshoring

Five Reasons Why Your Company Must Outsource to The Philippines

Posted on August 3, 2015

Heard about outsourcing to The Philippines, but have still not tried it out? Here are five reasons why outsourcing to The Philippines is great for your business.

If you thought that outsourcing is only for Fortune 500 companies, you need to think again. Today even small companies and start-ups can outsource. Though India stills holds the number one spot for outsourcing, The Philippines is not far behind. Yes, this country is fast becoming a popular option for outsourcing.

Here are some reasons why The Philippines has become a much sought after destination for offshoring:

1. Fluency with the English language and the American culture

The Filipinos are similar to the Indians when it comes to the English language and the American culture. They have a good grasp of both. This is one of the main reasons why the country has become a favorite outsourcing destination, as top American companies will have no problems in conversing with the Filipinos, as they speak fluent English. This means that your company will be facing few or no instances, where your instructions were not carried out because of translation issues.

2. A vast number of virtual assistants

If you own a small start-up or even if you are an individual who wishes to outsource, you can team up with a virtual assistant from The Philippines. Whether it for answering your emails, writing your web content or managing your bookkeeping, you can hire a virtual assistant from The Philippines for just about any business need.

3. Save more on cost

This is one of the best reasons why your company should choose The Philippines for outsourcing. Instead of paying $25 per hour for an in-house assistant, you will pay less than $5 per hour for a virtual assistant from The Philippines. You need not worry about the lack of quality because of the low cost, as the Filipinos are quality conscious and known for their error-free work. Continue reading

6 Tips For Error-Free Bank Reconciliation in QuickBooks

Posted on June 8, 2015

Have you tried reconciling your bank transactions in QuickBooks and faced errors or setbacks? If yes, then do read these useful tips on how to avoid errors while reconciling your bank accounts. 

Bank reconciliation is the process performed by an enterprise to ensure that the company’s bank and financial records such as, balance sheet, check register and general ledger account are accurate and up-to-date. Bank reconciliation is often time consuming and tedious. It can also get complicated when there are multiple banks to be reconciled. This is where outsourcing can help.

By outsourcing bank reconciliation services, you can not only accelerate the process of bank reconciliation, but also ensure better accuracy. Outsourcing bank reconciliation is also a great way to obtain a consistent data source, reduce cost, increase ROI and leverage the superior quality that only comes with offshoring.

Have you tried reconciling your bank transactions in QuickBooks and faced errors or setbacks? If yes, then do try these useful tips the next time you use QuickBooks to reconcile your bank accounts.

1. Ensure that you are working with the right bank account: If you own several bank accounts, it important to make sure that you are using the right accounts before attempting any bank reconciliations. This way, you will not end up making deposits or recording checks in the wrong accounts.

2. Look out for transposed numbers: The most common mistake while making bank reconciliations is to switch a number. For example, you could enter 45 instead of 54. However, transposition mistakes can be divisible by nine. But there should be no other error in the bank reconciliation. Continue reading

What Is Outsourcing and How Does It Work?

Posted on July 19, 2013

Another name for outsourcing is Business Process Outsourcing. BPO refers to the process of hiring the services of another company/ individual, either internationally or domestically to manage a few business functions for you. In the recent past, outsourcing has evolved into being a common practice that enables small, medium and large businesses to get access to skills and services that they would otherwise find hard to achieve either because of manpower or financial restrictions. Outsourcing can help your business grow as and when required, without you having to make any major investment.

Low cost is the biggest advantage of outsourcing

Offshoring allows your business to shift your focus back onto your core business tasks, while helping you cut down on costs and improve your efficiency at the same time. Over the last two decades, companies, both big and small have realized that there are many advantages of outsourcing various kinds of work, but the biggest and most prominent benefit is that you can save money. Individuals and companies that offer outsourcing services out of India, China or The Philippines are able to do the same work for less, as they have few overhead expenses to worry about and also don’t have to provide benefits to their employees.

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