Are you looking to outsource your business processes? In this blog post, we will draw from our experience & talk through some of the myths & compare them.

1. Offshoring Myths:
Busted!

2. We are very open with how we deliver our service,
which is a combination of local team and off-shore
team members. And we have very clear reasons why
we think this is the perfect combination on delivering
timely and accurate financials, at an effective price with
the best customer experience. There are plenty of
passionate views as to why people think it’s either a
great idea, or a terrible process. We’ve been working
with offshore team members for over 10 years and
think that it’s wonderful! … once you’ve got your
processes nailed.

3. In this blog post, we will draw from our experience and
talk through some of the myths and compare them to
our reality.

4. Offshoring is unsafe – This is a common myth that has
been spread around by those who do not understand
the concept of offshoring. By outsourcing to an
offshore company, you can be assured that your data
and information will be safe from hackers as it isn’t
stored in one place. Technologically savvy businesses
know how to lock down IP addresses, and ensure that
only relevant data is available to the offshore team at
the time and location they are working. There are many
MS office setups that can help you implement higher
security for your data.

5. Offshoring hurts local jobs – This type of thinking is
old-fashioned and doesn’t consider the global
economy. Offshoring creates jobs as it grows the
economy. It helps business reduce costs and attain
greater disposable income to grow and intern create
more onshore jobs. We use it to differentiate roles, our
local team are regularly talking on the phone to our
clients, whilst supported by their team off-shore.

6. Offshoring is too expensive – This may have been true
in the past, but offshoring has become more affordable
over time. You can now get high-quality work done at a
fraction of the cost. There are several websites that
help you connect with outsourcing companies. Some of
the well known ones are Freelancer or Upwork, but
there are also industry specific providers too. These
companies already have the infrastructure and talent
pool set up.

7. Offshoring is not scalable – This myth has been used
by some companies to discourage offshoring, but it
really isn’t true. In fact, many outsourcing and
offshoring experts have stated that scaling your
business with a global team can help you grow faster
than ever before. Offshoring forces you to be explicitly
clear with your processes and expectations – which are
key in any growing business.

8. Offshore workers are underpaid – This myth is often
used to discourage offshoring, but the truth is that the
cost of living varies significantly in countries around the
world. We are proud to have team members that are
supporting their whole family while working regular
hours at iKeep.

9. Offshore workers are unqualified – This myth has also
been debunked by experts who have stated that many
offshore companies employ highly educated and skilled
professionals. There are several controls in place that
ensures that the resources have globally recognised
qualification.

10. Only big businesses outsource – This myth is also
untrue. Small businesses can outsource and offshore
their work to get the same benefits as large businesses.
There are even dedicated freelance resources available
that are highly cost effective.
The only aim of outsourcing is to cut costs – You can
outsource to improve your processes, increase your
revenue, and scale your business. For several business
it’s easier to get technical expertise overseas and it’s a
big reason for outsourcing.

11. Outsourcing is not meant for small businesses – small
businesses can outsource their work just like large
enterprises. The only difference is that they will have a
smaller team compared to big companies with
dedicated teams focusing on each task individually.
Outsourcing is only for low-skilled work – This myth
has been debunked by many experts who have stated
that the type of work you outsource depends on your
goals and needs, not the skill level required to
complete a task. For highly technical works including IT
support it is a necessity to outsource.

12. To successfully run an off-shore team along side your
local team involves a significant investment in
communication and clarity of process. Sometimes
these things are not as clearly articulated when
everyone is working under the same roof. Clearly
defined roles and processes are also factors in high
growth businesses, which is why we think its a great
match.
Contact us today for more information about our
outsourced offshore bookkeeping services.