PwC announced 40,000 United States employees to work remotely
PwC, a Big Four firm, said that it will allow about 40,000 U.S. employees to work remotely from anywhere in the continental U.S. in the future. With 55,000 employees in the United States, the change would allow the majority to work virtually. The new regulation will have an impact on specialists in client services such as consultants, auditors, and tax professionals. Professionals will have two weeks to notify their bosses if they plan to subscribe to the work-from-anywhere model, and will be able to change their remote work conditions to match changing demands as time goes on, according to the business.
PWC is expanding their offshore offices in India:
The narrative of offshore in India began in 1985, when Texas Instruments opened an office in Bangalore. Many airlines and technology businesses established operations in India in the 1990s. Because of its sophisticated ecosystem, India has retained its supremacy in global service sourcing since then. The Indian offshoring sector has developed over time to meet the diverse demands of its client base.
Offshore offices in India reduce the operational cost to over 50% and get you access to a global talent pool. And also, it will help to optimize and expand their offshore presence.
Even Big 4 are expanding in offshoring then Why not you?
After the outbreak, the globe has shrunk, and accounting businesses are no exception. Working remotely is the same whether you're in Boston or Bangalore, Miami or Mumbai, New York or New Delhi, as long as your team has the correct skill set, mindset, and speaks the same language.
Offshoring has been a popular trend throughout this chaotic mode of existence, and it's a win-win situation for everyone. It allows CPAs to work a little longer than usual if someone else handles their everyday tasks. Offshoring not only helps to dominate price, but it also helps to improve quality, reduce time-to-market, and stay ahead of the competition, whether it's accounting services, payroll process, insurance services, knowledge management, legal services, or another service. Accounts outsourcing has been a growing activity in Asian countries such as India.
With offshore staffing, which may begin as a stop-gap measure but has the potential to be a long-term solution. It can aid in the development of capacity, the gaining of a competitive edge, and the reduction of workload.
Indian Eco-System is continuously growing
When it comes to remote accounting work, India has been the most popular location, and this is for a variety of reasons. India is the second home of tech behemoths, Fortune 500 companies, and accounting tech behemoths. The most widely used language in India, owing to British influence and a knowledge-based economy. Some of the common examples of big shot Indian CEOs in top multinationals.
- Arvind Krishna, CEO IBM
- Sundar Pichai, CEO Google
- Satya Nadella, CEO Microsoft
- Shantanu Narayan, CEO Adobe
- Ajaypal Banga, CEO Mastercard
- Rajeev Suri, Former CEO Nokia
- Parag Agrawal, CEO, Twitter
India offers a large talent pool for easy scale up, though industry readiness remains a concern. Here are prime 5 reasons why India has maintained its leadership position despite constant challenges from emerging destinations
1. Information Security:
Accounting data units are extremely sensitive, thus the safety and security of knowledge is of the highest importance. Before the project begins, offshoring partners sign confidentiality agreements with accounting firms to ensure that all customer information and other critical financial information is completely secure.
2. Lower Price & Higher Benefits:
Obtaining a value advantage is the most important feature of accounting services. Several organisations have realised that offshore is the most cost-effective option for corporate money. The employee cost in India is significantly lower when compared to other outsourcing countries; nevertheless, this does not imply that the staff quality is subpar. India offers the greatest ISO certified organisations, and the quality is unrivalled.
3. Zone Advantage:
Many businesses have benefited from this time zone difference. The World Health Organization has outsourced their operations to India. The 12-hour time difference between India and the United States presents organisations with several possibilities for work to be done earlier than planned, resulting in other critical accountabilities being met on deadline. As a result, India will be available 24 hours a day, seven days a week to a variety of nations.
The service providers do not merely promise that your accounts are taken care of, but because India is the world's IT hub, the suppliers perform the work by applying innovative and rapid technologies! With access to a variety of cutting-edge accounting technologies, Indian service providers may guarantee high-quality outcomes in a timely manner. India offers a fantastic talent pool and consultants in data centre hosting who can design good code applications, giving value to the organisation.
Isn’t it rattling that somebody else takes care of your year finish and you get a tough time without work for yourself! These companies work severally, making certain that the work isn't interrupted or delayed owing to the other problems. This means, by the time you steel yourself for the tip of the economic year to file your returns, these individuals have already got your back and unbroken the work prepared for you!
Offshore staffing for accounting firms can open up the amazing benefits by which they can increase their profit, flexibility, productivity without strenuous efforts. There are plenty of other benefits that are generated by accounting firms by trusting the expertise of their offshore staff. If you or any of your colleagues wish to learn more, let’s have a quick chat and discuss future possibilities.
Entigrity™ is a trusted offshore staffing partner to over 600+ accountants, CPAs, and tax firms across the US and Canada. Our flexible and transparent hiring model gives helps firms of all sizes to hire staff for accounting, bookkeeping, tax preparation, or any other task for 75% less cost. As a firm 'run by accountants, for the accountants', Entigrity captures the hiring needs of accounting firms most precisely, providing staff that works directly under your control and management, still, you are left with least to worry about compliance, payroll taxes, overheads or any other benefits.