Frequently Asked Questions (FAQs)

Benefits of Outsourcing

1. Improved internal control by having independent professionals handle accounting and records, which reduces errors.
2. Bookkeepers and report preparers work independently from firm employees to avoid conflicts of interest and fraud.
3. Reduce HR costs by eliminating the need for additional full-time hires.
4. Experts use current accounting techniques to increase efficiency and output.
5. Management can concentrate on production, sales, and business development.
6. Reduced investment on accounting-related infrastructure, software, and technology
7. Access to competent personnel and modern tools without having to hire in-house.
8. Faster and more accurate financial reporting that adheres to compliance standards
9. Shared responsibility for managing risks of noncompliance and fines.
10. Cloud storage and secure virtual platforms enable businesses of all sizes to benefit from outsourced and bookkeeping. accounting and bookkeeping.

There is no risk of losing control because you will own the books of accounts. The agreement contains appropriate clauses, as does the non-disclosure agreement. Furthermore, all of your transactions will be approved and controlled solely by you.

You may continue to work with appropriate workers who manage and regulate accounts in an ethical and quality manner. However, if you only have one employee managing all of your accounting tasks, you should consider us because putting the entire function in the hands of one person increases the risk of internal control.

Furthermore, the following are the reasons for outsourcing even if your personnel are able to manage the workload.

• Employees' time can be best spent on other things, such as dealing with sales and service difficulties.
• Eliminate concerns with employee turnover and unscheduled leaves.
• Eliminate issues associated with training a permanent or temporary replacement.
• Lowers the risk of fraud losses and regulatory sanctions.

We have examined adequate security measures for data, networks, and workstations. You may get more information about security measures on our page. Furthermore, you can be confident because we are an ISO 9001 and ISO 27001 certified firm.

Please see the following sample situations:

• The departure of the important employee

• Termination of employee because of dishonesty and fraud

• Employee termination due to dishonesty and fraud.

• Increased transaction volumes due to business expansion.

• Short-term strategies are required for supporting a project or covering

• professionals' leave periods due to maternity leave, illness, or military duty.

Yes, you may already be outsourcing the preparation of financial statements and tax filings. However, according to regulatory standards, a CPA company that provides bookkeeping services to a client cannot also provide audit services to that client due to a conflict of interest.

In the majority of instances, our service delivery charges are lower than those of a CPA firm due to our domain expertise, use of relevant technologies, and specialized team.

Copyright and data confidentiality are highly important to us. We make sure that no client-related information is ever published, given away, sold, sublicensed, or otherwise disclosed to a third party. We have put in place a number of measures to ensure anonymity, including

• Accomplishing background investigations on our employees

• Clause in our employees' "terms of employment" that commits them to upholding non-disclosure agreements and confidentiality concerning client data.

• Limiting access to systems and facilities.

• Limiting the availability of data backup solutions.

• Limiting the availability of print media and destroying all unnecessary printed documents

• Such additional actions that increase our company's level of client trust

Absolutely. Nowadays, the majority of desktop accounting programs provide remote desktop capabilities. By using our assigned user credentials, we are able to remotely access your accounting system. You must, however, have fast internet access for it to be successful.

Yes. Nowadays, the majority of desktop accounting programs provide remote desktop capabilities. By using our assigned user credentials, we are able to remotely access your accounting system. You must, however, have fast internet access for it to be successful. As consulting services, we can undoubtedly offer your employees advice on accounting procedures. However, based on our expertise, we believe that outsourcing will provide more value than employing us for consulting because outsourcing allows us to offer a wider range of advice. Furthermore, when your employee is handling work instead of our employees, the differences in our ongoing training to our people, work culture, standard work procedures, etc., are evident.

BI-Outsource always intend to continue serving our clients, but we are aware that the relationship may end for a variety of reasons. We only own the process; you always keep ownership of the data. Therefore, when the partnership ends, we have a duty to provide you with processed details/documentation and transition support. To ensure your satisfaction, we have incorporated the necessary provisions in our service agreement.

Uploading documents to a dedicated cloud server that is SSL protected is the most effective way to share them. Both parties will find it handy.

In most circumstances, fees are payable hourly. Hourly rates are determined by a variety of factors, including industry type, complexity, number of services offered concurrently, organisational size, and so on. Based on these variables, we assign different levels of personnel and determine per-hour charges for services. In rare instances, we charge according to the convenience of both parties.

BI normally distribute completed work by posting it to our SSL-secured document management platform. From there, you can examine and download files using your credentials. We have several credentials for different levels of client workers. For example, the Director of our customer ABC has different credentials and access to files than the Accountant. Thus, reports that must be shared with directors are not sent to accountants, and vice versa.

Yes. If you have a PC camera, we can organize a live meeting demo at a time that works best for you. Simply contact us, and our representatives will make the necessary arrangements.

You are always welcome to contact us at info@BI-Outsource.com if your question about outsourcing, our services, our methodology, or any other connected topic is not covered in the aforementioned FAQs. Our executive will handle all of your problems.