Business process outsourcing (BPO) is the practice of contracting a specific work process or processes to an external service provider. The services can include payroll, accounting, telemarketing, data recording, social media marketing, customer support, and more.
Why Do Businesses Outsource Processes?
Many don’t opt for business outsourcing thinking its waste of money but rather its saving time over money, the time which can be invested in a higher value purpose. Few of the major reasons are:
Book-keeping is very important neglecting it can cause serious problems over the period of time. Traditionally Businesses hire a dedicated person to take care of day to day accounting & book-keeping activities but nowadays it has become common for businesses to outsource their book-keeping activities.
Book-keeping is an act of keeping the records of all financial transactions in a systematic way. This includes recording purchases, sales, receipts and payments transactions.
Benefits: You save time and can focus more on your business, account outsourcing is cheaper than hiring a full-time accountant. Higher qualified and experienced professionals who will ensure the accuracy and much more. Find out how Sid Tech can help you with book-keeping.
Activity of preparing tax returns is time consuming and requires special skill sets. Outsourcing tax preparation services are common these days and you can easily outsource VAT, Service Tax, TDS return preparation etc to SidTech tax consultants.
Outsourcing Payroll processing alone can save considerable hours, headaches and dollars. If your business has more than 10 employees, keeping track of employee leaves, joining & exit formalities, bonuses & loan advances and applicable tax deductions can become hectic. Leave the worries and this work to us, we will ensure all your employees get what they deserve on time not a penny more not less.