Today’s world demands staying in-step with the times; considering the speed at which new avenues for business operations and marketing arenas are opening up globally. It becomes more than relevant to ride the flow and make the very best out of the Information Revolution. More so, especially for the Accounting industry, since majority of the accountants or accounting firms provide very specific nature of services.
It’s not surprising to see many small and mid- sized accounting firms adapting to new technologies and business operations structure nowadays. The growing pressures of stiff competition, increasing costs of capital investment, demanding higher pay scales, complicated legalities, among a lot of challenges are now affecting revenue and target achievements. Through all of this, you have to maintain accurate bookkeeping and produce timely reports and financial filings. The accounting industry is evolving quickly but not everywhere can the changes to be seen. What can you do if your firm isn’t making the most of new technology? How would your accounting practice sustain its course of operations if it doesn’t stand to anticipate and face the days of future?
In this article, we’ll look at how building a Global Team can be of help.
What is a Global Team?
Hiring a Global team for your accounting practice mostly involves having employees who are aptly qualified and have relevant experience of software. Primarily, a majority of such workforce is recruited and deployed overseas. With various skill sets and professional experiences, each employee in your global team contributes significantly to your operations and leverages the core values, garnering higher growth and greater achievements for your firm. The big four got this idea about two decades ago and have successfully established their offshore offices, primarily in India. On the same lines, many big firms too done the same and now that visionary step is reaping them fair amount of profits.
Why Need a Remotely Located, Global Team?
A much precise question would be, “Do you actually need a team of just local employees?” Well, it’s not easy to find and maintain an in-house accounting staff whom you can trust, while many capable candidates are expensive and not instantly available when the need for staffing arises. Additionally, you are liable for providing all kinds of benefits. Not to forget, increasing local team size also brings with it the need for office space, equipment, infrastructure, etc. for each local employee. At the same time, hassles of the staffing process such as conducting personal interviews, technical skills evaluations of the suitable candidate within your work environment rise too. Considering all the procedures and methods for acquiring and retaining any local employee, it becomes a cumbersome task every time you need to recruit some work force for your business organization.
All these troubles lead to a majority of industries finding an alternative for having work force at their disposal at the drop of a hat! Global Teams, through remote staffing. Today, remote staffing has solved problems long faced since the advent of organized industry and business sector all around the world. Let us see, how better the benefits are, of having a global team, enabling your firms to meet future developments and requirements of your industry.
Benefits of a Global Team
Global Teams through Remote/cloud software, are the new age mantra, with many small and mid-size accounting firms as well as businesses now opting for it. Here are the key abilities and benefits of remote staff in a global team:
- Reduced office infrastructure expenses
- Access to a readily available large global talent pool
- Eliminates local compliance and liabilities hassles
- Streamlined recruitment and HR processes
- Get maximum benefits of paid accounting software
- Create and manage simple work flow process
- Convenient communication and collaboration facilitated by latest information technology
- Easy time-work tracking and day to day reporting.
- Helps you to focus more on business growth
Acquiring a Skilled Workforce
With global teams, one of the most impending challenges, acquiring the right talent, becomes far easier as there are more options to shortlist and select after having thoroughly tested and screened.
Coordination With Local Team
Interestingly, all global team employees are also presumed trained in software and procedures of accounting industry. Furthermore, they also meet the necessary requirement of verbal and oral English communication skills. Coupled with the latest audio-visual means of communicating through the internet, all remote employees maintain communication with the local staff in your organization. This ensures that all instructions and work criteria is defined, explained and thoroughly executed and completed in timely manner, and exceeds your performance expectations.
Being More Tech Friendly
Evidently, most of the all work nowadays is carried out with the help computing technology. Be it desktop or laptop computers, or even smart handheld devices such as tablet or mobile phones, all staff in a global team is quite familiar with most gadgets.
Today, the fast paced work environment with the ever increasing demanding for higher performance and higher output in terms of quality and quantity, asks for a work force enough capable for handling such challenges efficiently, effectively, effortlessly. Global teams comprising remote staff today, is trained and geared up for facing all such challenges, resulting in a strong accounting work force, which is future proof for your business organization for years to follow!