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Technology up gradations opened up a new avenue for chartered accountants in India too. Many companies in USA and UK are looking for hiring professional services from an Indian corporation, as it is proven that Indian can adapt to any system easily and provide efficient workability.
Earlier when we talk about outsourcing, a common man immediately thought about something related to IT enable services. Now scenario is changed. Accounting outsourcing is the next big thing which is growing very fast. It involves professional services offered by a person who is specialized in his own field. A chartered accountant falls in this category. It is time to update your knowledgebase and explore the opportunity globally.
Major IT outsourcing companies in India are now involved in this and trying to grab the growing market share. There are certain skills required in an Indian Chartered accountant to be a part of it, which are as follows:
1. Accounting procedures followed by companies in USA, UK or other countries.
2. Knowledge of accounting related software’s like, Quick Books, MYOB, SAGE and other accounting solutions. These are some software’s used as per international standards.
3. Skills in using tax return software’s i.e. Ultra Tax or Irish. These are few of the software’s which are used in preparing Tax Returns and annual accounts for individuals, corporations or private organizations.
Below are brief on what are the services which can be outsourced:
1. Business accounting
2. Maintenance of books and records
3. Asset accounting management
4. Financial analysis
5. Bank reconciliations
6. Payroll management
7. Different types of reports on daily basis.
8. Financial research and investigations.
Above are few services which can be outsourced to an India Chartered accountant. The motive behind this post is to provide information’s only. I like if some one from the board likes to share there experience about followings:
1. How many of you are aware of this, those who are aware can share there view.
2. Have you used any of the software mentioned above, if yes post your comments.
3. Are you involved in any outsourcing company, if yes can comment here?
4. Even if you are not involved in any of above, can post your views and can advice the board about your view point about what are the other services which an Indian CA can provide.
5. If you have done some research before can post your referrals so that others will come to know about it.
Sharing your experience in an public platform like this will help many, whether it is a fellow Chartered accountant, a recruiter or a company who are looking to outsource there work from India.
Thanks and regards
Arun Tibrewal.
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Outsourcing of back office operations is already happening and its happening big time but sooon its going to get more and maore bigger.
Business Process outsourcing (BPO) is a thing of past. Earlier, helpdesk functions, customer care functions, order booking, tlelemarketing sales etc were some of the processes that were outsourced. But in recent times, corporates have gone one step ahead. Knowledge Process Outsourcing is the next big thing that is going to happen.
What does Knowledge Process outsourcing means??? KPO means outsourcing a process not only entailing skill but also entailing a process requiring specialised knowledge like accounting, auditing, market surveys etc.
There is also a portal by the name of http://www.kpoweb.com which helps and assists in outsourcing accounting jobs…
Knowledge Process Outsourcing has got a tremendous future in India.