Today, India has evolved as one of the top outsourcing destinations in the world. According to a survey conducted by NASSCOM, India is among the leading outsourcing countries across the globe.
India’s growing popularity in outsourcing industry can be attributed to its highly talented human resource, finest quality services, cost-efficiency, and professionalism.
At present, India offers a wide range of outsourcing services in different industries such as IT, Accounts, Finance, etc. Today, the trend of accounts outsourcing to India is gaining momentum due to various factors such as access to the accounting experts at lower cost, top quality services, and an ideal time zone.
What is outsourcing?
Outsourcing refers to the business practice where companies hire other firms to perform their internal business activities on contractual basis at affordable costs. Companies prefer outsourcing its various business processes to cut down their overall cost and save time to focus on its core business activities. Services like finance and accounting outsourcing , payroll services , virtual cfo and many more are outsourced by Aristotle Consultancy.
There are various benefits of outsourcing such as:
India offers high-quality accounts outsourcing services at flexible prices as compared to other countries. By availing accounts outsourcing services from India, a company can reduce its cost significantly and save time to focus on its core business activity. Also, by saving time and money, companies are in the position to take risks for improving productivity.
The time zone of India is favorable for foreign countries since IST is 5:30 hours ahead of coordinated universal time (UTC). This time gap allows outsourcing services in India to deliver the project within the specified time limit. Thus, it accelerates normal working of a company which in turn improves productivity.
Infrastructure and technology performance
India has a well-developed infrastructure and facilities such as good cellular connectivity, latest technology, etc. These facilities enable outsourcing industry in India to provide services without any disruption. Also, the availability of advanced tools and technology ensures the standard quality of service
Although Indian accounts outsourcing firms offer its services at the affordable price range, the quality is never compromised. That is why outsourcing services in India are gaining popularity day by day. The accounts outsourcing companies employ highly skilled individuals to ensure that essential data of clients are treated with due care and accuracy.
Economy and political environment of India
The economics of India is stable, and along with it the political environment of the country is favorable for the growth in the outsourcing industry. The nation’s legal system is sound and supports trade and commerce activities. The taxation policy, specific reforms, and significant investment policies are the key factors that help in strengthening Indian economy. Therefore, the possibility of default by Indian outsourcing firm is fewer.
The accounts outsourcing firms in India are well-known for their professionalism and top quality service. Thus, clients need not worry about the performance, confidentiality, and quality while dealing with Indian outsourcing firms.
The top MNCs in the world prefer to avail outsourcing services in India. The primary reason for choosing Indian firm is good quality service, professionalism, confidentiality, and cost-effectiveness. Also, the time zone of India is favorable thus ensuring the delivery of service on time.
The Indian population is equivalent to approximately eighteen percent of total world’s population. Every year huge number of students in India completes their graduation. It means that country’s workforce is getting stronger and therefore India has the potential of offering high-quality service at flexible prices.
Large Pool of Talent Resources
The countries like US and UK prefer to hire Indian companies for outsourcing various business processes. The Indians are famous worldwide for their talent and hard work which makes them more desirable on a global level. Whether it is IT industry, Healthcare industry or Accounting and Finance industry, Indian talent has proved itself in every field. Thus, India has a large pool of talented individuals in every sector.
No Communication Barriers
The significant portion of India speaks English as compared to any other country in the world. Therefore, communication is not a barrier while dealing with Indian firms.