The real question to think about it this: “What can your in-house accountants do with the extra time they will have if you outsource the mundane compliance jobs?” Can that time be used better to bring more revenue by offering more value add services?
This decade has seen a real shift in outsourcing. Thousands of mid-size accountancy practices and the Big4 firms have outsourced their back-office and much of their compliance work to offshore locations around the globe. It’s clear that they sought accounting staff outside their practices, so they could free up their front-end teams to focus on client servicing whilst potentially savings thousands of pounds.
In our ‘ideal’ view, a modern accountancy practice should be composed of experts and strategic thinkers, so you could spend less time worrying about things like year-end accounts, payroll tax, bookkeeping and VAT, and more on doing what you love.