SBS Global offers a comprehensive range of outsourced accounting and bookkeeping services, Company Secretarial Services, Outsourcing Compliance Services, Virtual CFO Services, and Outsourced Payroll Services catering to the needs of small and medium organizations across industry sectors to meet their changing needs and expectations. The Company’s philosophy is to provide value adds to its clients to enhance growth, control costs, mitigate risks and support business survival in the future.

1. Benefits of Outsourced Accounting
and Bookkeeping Services
Many small businesses, start-ups, and entrepreneurs find it
challenging to hire an accountant. Especially with the right
skills to prepare outgoing invoices, manage bank account
operations, prepare company’s financial statements, review &
analyze financial data. It is even more challenging to find a
qualified and competent person at an affordable rate.
More than 1/3rd of small businesses are outsourcing their
accounting. Most small companies that outsourced accounting
were not efficiently doing the accounting on their own.
Even though it is commonly supposed that accounting and
bookkeeping must be done inside of the business, it is
imperative to ask yourself whether you have the necessary
skills and experience to handle this job. Also, does your staff
has enough experience to cope with increasing challenges in
the current evolving modern business scenario? To add it
up, 30% of all small businesses think that they overpay their
taxes and are not able to manage their finances effectively.
Due to this fact, you might consider outsourcing accounting
services to a company that possesses the right team with
qualifications and experience. Also, such a company can
execute the job more qualitatively and cost-effectively.
For this very reason, many CEOs have noticed various positive
aspects of outsourced bookkeeping and accounting services.
Importantly, outsourcing such services should be without any
adverse effects on their business, employees, and customers.
Therefore, based on our vast experience in managing
outsourced accounting and advisory services to our clients in

2. India, Denmark, Norway, Sweden, and Switzerland, we have
highlighted the benefits of Outsourced accounting and critical
aspects to be considered before engaging the right partner to
manage your Financial Accounting and Taxation activities.
7 Benefits of Outsourced Accounting and
Bookkeeping Services
1. Cost-Saving Accounting Services
In general, most businesses consider outsourcing to be an
additional and therefore unnecessary cost for their business. It
is not the right perception and it is the opposite. In fact, many
companies have seen a reduction in overall costs with higher
productivity.
The savings that outsourcing usually provides can be quite
substantial as most service providers can offer their services
at an attractive price as they could employ efficient resources
in addition to effective technological processes. You only pay
for what you need and your full-time resources are able to
focus on more productive activities.
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3. Costs of Hiring Processes
In an overall scenario, the recruitment process is a rigorous
job. It takes resources to manage it, from creating a
recruitment strategy to selecting right resouces, recruit and
retain them. The recruitment process takes your business
time, it costs, and you will need to devote the time either for
yourself or the employee.
Many companies do not consider the time they spend in
looking for a professional accountant as time involves costs. It
makes sense to entrust the responsibility of identifying the
managing the resources to the experts.
3. Saving your Time
As your business grows, you will find yourself spending more
time managing your money and accounting transactions and
less time scaling the business. Therefore, outsourcing
administrative tasks like bookkeeping and accounting helps
you to focus your time, energy and resources on creating
business strategies. It will bring more revenue, as well as
networking and building relationships with your customers.

4. 4. Expert Accountants and Bookkeepers

5. Outsourced bookkeeping and accounting service firms
continuously have to improve their skills and qualifications to
stay competitive in the market. Imagine, 50 people working in
the same office. They can easily share the new accounting
trends, solutions and tools. To add more, great accounting
companies have more extensive access to training, courses,
and they are participating continually.
Moreover, outsourcing to an accounting firm is giving you
access to a team of Specialised Accountants. For example, at
Baltic Assist, for the fixed price company gets a team of
accountants. Not merely one person to deal with different
kinds of tasks.
By choosing the outsourcing company wisely, you can be sure
that your company’s accounting and confidential information
is in the hands of a professional, reliable and knowledgeable
entity.
5. Scaling Accounting Easily
The accounting service providers has the band width to scale
your services significantly without any lag. For example, if
your bookkeeping and accounting tasks exceeds the number of
functions for 1 employee, the service provider can quickly
deploy additional resources to complete the task without the
need to go through a rigorous and time consuming recruitment
process.
Moreover, many accounting and bookkeeping service providers
are charging on an hourly basis. This means you can scale up
or scale down the hours without any interruption and you do
not pay fixed cost for the resource deployed.

6. 6. Automation Technologies

7. Most businesses use accounting automation software to save
time and cost. It will save time and cost, but more
importantly, it reduces many risks. Automating accounting is
minimizing human errors. Secondly, with automated software,
accountants get real-time reports. They are able to identify
potential problems and resolve them at an early stage.
Thirdly, it will reduce the probability of internal fraud.
Most of the accounting service providers are highly qualified in
the automation tools such as Quickbooks, Sage, Visma, Xero,
Microsoft Dynamics, SAP and more.
If your accountants are still using only Excel sheets – you are
wasting your time and money.
7. An Accountant is your Advisor
A good accounting partner will always provide advice on how
to make accounting more efficient. Mostly they will be
working with a multiple companies and share their experience
from the industry. Whether it is about taxation, accounting
software or even providing financial advice.

8. When you Should Consider Outsourcing
Accounting and Bookkeeping?
From our experience, working with various Indian, US and
European companies, outsourcing accounting and bookkeeping
tend to work the best when:
 A small business does not require a full-time bookkeeper
but needs a person with more skills than the office
manager or an office clerk can provide.
 A company of any size could not find a full-time
employee with required knowledge, experience and
abilities at affordable costs.
 A growing company is looking for opportunities to scale
its accounting and bookkeeping services to meet the
business challenges in expansion.
 The temporary services are needed, e.g., extra help with
end of the year reports or if a full-time employee is going
on holiday, maternity leave, etc.

9. However, even you will hire a skilled and qualified person, a
Senior Management person need to be involved in reviewing
the transactions and process.
5 Things to Look for Before Outsourcing
Accounting Services
Once you decided to outsource, the next step should be to
choose an outsourcing company that will be a great fit with
your goals and objectives, but most importantly, would be
able to match your needs and requirements. We believe, that
when outsourcing bookkeeping and accounting services, the
service providers’ experience, quality of resources, and track
record must be the top priority. However, a few more
essential factors must be considered, as well.

10. 1. What Accounting and Bookkeeping Services
do you Need?
Is it to prepare the end of the month reports, balance sheet,
payroll services, tax compliance, or taking care of your
account payables and receivables? You may need someone to
prepare your bank reconciliations and analysis or just enter
the data into the accounting software? Whatever it would be,
you need to be clear on what you will do personally, what’s
your in-house staff is responsible for and what you want
someone else to do.
2. Competitive Cost Range
Every accounting and bookkeeping company have their pricing
schemes – some of them charge by the hour, others monthly
costs, etc. Therefore, you can choose the cost structure that
suits your needs and budget the most, but do not make your
decision only based on cost-effectiveness.
3. Expertise
Make sure that the company you want to hire is experienced,
professional and has the right qualifications. Remember you
can always ask for some references from their previous or
existing clients, look at their reputation in the market,
financial stability, and most importantly, their ability to
deliver high quality and consistent results.
4. Data Security
In our opinion, data security plays an important part when
outsourcing accounting services online. The highly respectable
firm handles its client’s data with the most required privacy
and ensures that each transaction is secure. It is essential as

11. the information that you are sharing with them is confidential
information about your company – it cannot be compromised.
5. Flexible Service Level Agreement
Accounting and bookkeeping service provider must show their
flexibility and desire to match your future needs and
requirements. We strongly suggest checking the term and
conditions before you sign the contract, so you will be aware
of how to terminate the agreement if you are not satisfied
with their work.
Accounting Tasks your Business can
Outsource Tomorrow
 Bookkeeping.
 Tax and Secretarial Compliance
 Reporting to Authorities and Management.
 Payroll processing services.
 Accounts Payables (payments creation).
 Accounts Receivables (debtors follow-up).
Bonus advice: If you hire a CA/CPA firm to perform an audit,
you should continue to use the Outsourced Accounting Services
in India, company for your accounting and bookkeeping
functions. Due to independent regulations and standards
within the accounting profession, a CA/CPA firm performing
an audit cannot perform the accounting and bookkeeping for
the same company.
Conclusion
There are significant advantages for clients who decide to
outsource their accounting tasks. To begin with cost-efficiency
and ending with flexibility in terms of contracts or scaling the

12. number of functions. Accounting and bookkeeping are a vital
part of business, but also complex. It requires expertise and
specific knowledge. Without a right accounting process the
business is exposed to risks which can adversely affect the
performance and growth of the business.
About SBS
SBS Global is an ISO 9001:2015 & ISO 27001:2013 certified
company serving since 2007. SBS Global offers a
comprehensive range of Outsourced Financial Accounting
Services, CFO Services, Compliance (i.e., Company Secretary
services) & HR Services catering to the needs of Small &
Medium Organizations across industry sectors to meet their
changing needs & expectations. Our team includes employees
having industry & domain expertise who have insights drawn
from years of professional experience.
For more details on outsourced finance & accounting
services please visit or contact us