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Considerations when offshoring accounting services to the Philippines

Are you considering offshoring for your accounting practice? Building your accounting team might be challenging because you need to identify potential employees with the best accounting knowledge and qualifications.

You can hire highly-qualified accounting team members using offshoring. By using an offshore team, you can lower expansion risks and costs.

These are the three points to think about before exporting your accounting process to the Philippines, if this has piqued your interest and you are now considering it:

  1. Cultural perspective and differences

Business owners rarely consider cultural variations while offshoring accounting to another nations. Filipinos have adapted to Western culture partly because English is one of its two official languages and is widely used in government, newspapers, and publications.  Also Filipinos are hardworking and goal-oriented and will work well with your onshore workforce to ensure your company’s productivity and effectiveness. Filipinos are excellent at establishing and enhancing KPIs because they are committed to the advancement of their professions.

  1. Knowledge of accounting education

Many business owners don’t realize that hiring degree-qualified accountants in the Philippines is straightforward as it is a place where having a college degree is an important qualification for employment. Hundreds of thousands of Filipino university graduates enter the workforce annually.

All professional accountants are required to hold the qualification of Certified Public Accountant, so an accounting graduate who wishes to work in an accounting practice should also hold it. Whether they work for a private or public entity, a Certified Public Accountant will be involved in decisions that call for their expert accounting expertise. These people are devoted to encouraging and upholding the highest ethical and professional standards among accountants.

  1. More experienced accounting team members

To reduce clients’ costs, several offshoring providers hire recent graduates as accountants, which may be the reason why some offshore employees may not be able to match the standards of the company because they lack the necessary training and expertise. But, the cost difference between hiring a Filipino graduate and an experienced offshore worker is actually rather small.

Building a team is challenging. However, building a team that is stationed on another continent is a different story. Offshoring your team members might be a challenge, but Intelligent Outsourcing is your partner in growth and will give you the support you need. Hence, the creation of the iO Academy.

The iO Academy is a training ground administered by Intelligent Outsourcing’s management team as well as knowledgeable and expert team members who have been working with the company for several years. The iO Academy is composed of both technical and non-technical courses and workshops. It was established to make sure that all our team members are qualified and knowledgeable enough to provide the outputs you need and complete them following your processes.  

We only recruit qualified accounting and finance offshore personnel.  We will work with you to determine the amount of expertise needed for the position, so candidates will live up to your expectations. Because they are knowledgeable about accounting procedures and have the necessary abilities, we can quickly integrate them into your business. Your offshore accounting team members are experienced and skilled accounting professionals with knowledge of accounting software such as Xero or QuickBooks.

Offshoring is the best way to outsource you work. By building your own dedicated team with Intelligent Outsourcing, you retain control and get work completed by qualified professionals using your processes and working on your systems.

Partner with us! Let’s talk about how we can help you grow through offshoring by contacting us at (+44) 1892280127 or