Accounting BPO: what companies should consider when selecting a service provider

Choosing wisely an accounting BPO partner is key for achieving remarkable business results, ensuring agility and compliance.

As a way to make their routines more productive and dynamic while cutting red tape, many companies resort to accounting BPO. However, companies must take several precautions before placing this process in the hands of a service provider.

When performed properly, Business Process Outsourcing (BPO) contributes to boosting business results and to maintaining compliance, ensuring that clients can focus their efforts more directly on more strategic work.

Accounting BPO is responsible for keeping accounting records, analyzing transactions pursuant to the laws in force, and performing tax calculations, in addition to several other tasks that require know-how, accuracy, and security. With that in mind, a few aspects must be considered when choosing a partner to carry out this service.

Attention should be paid to these aspects, as relying on a specialized and up-to-date outlook on accounting is highly beneficial. Check out below a few points to bear in mind when hiring an accounting BPO company:

Market reputation of the accounting firm

There is a large supply of accounting BPO services. When looking for a partner, it is paramount to consider the firm’s reputation, its time in the market and its management board. Service charges are not a reliable benchmark, as less money spent might spell lackluster results.

Visit their website, search on the internet for the company’s name and even their registration status and check if they remain in good standing with the Regional Accounting Council.

Customer base

The customer base of an accounting BPO service provider may be a good indicator for your company to fall back on when choosing the best option available.

Providers that cater to businesses of the same size and segment as yours or that have a particular expertise that you consider important are worth taking a look.

Infrastructure and staff

When relying on the structure of an accounting BPO service provider, check if their facilities and resources meet your needs.

Regardless of the location of service provision, try to figure out if their team has the size and level of qualification required to meet your company’s demands, including the capacity to keep up with your business’ expansion. Moreover, check if they invest in training and keeping their accounting staff up to date.

Investment in technology

One of the benefits of adopting accounting BPO is having access to modern processes and technologies without worrying about constantly looking for new solutions in the market, as the provider is the one in charge of doing just that.

Therefore, you should assess whether your service provider has invested in technology and what platforms and software are used for accounting management.

One other key aspect related to technology to keep in mind is how the outsourced company will ensure the security of the client's data in a digital environment.

Portfolio of solutions

Even if you are planning to outsource only accounting services, you should look at the whole range of solutions offered by the firm, as outsourcing other related tasks can be very worthwhile down the line. Having everything under the care of a single service provider will streamline the integrated management of processes, with a positive impact on agility and compliance.

It is worth bearing this in mind, because the range and the complexity of solutions also shed light on the firm’s cross-functional capacity and skills.

Read more:

• Financial, Tax and Accounting BPO: 5 outsourcing benefits for companies
• Payroll BPO: 5 benefits for your company

DPC: the right partnership for accounting BPO

With 38 years in the market, a client base of 560 clients – 60% of which are multinationals – and constant investments in staff and technology, DPC brings together all key attributes to provide first-rate accounting BPO services.

From routine accounting to consulting services, DPC offers custom solutions, making accounting management hassle-free, while providing soundness and security to its clients.