Reasons to outsource and how to choose an Outsourcing Provider

We understand that it is difficult to make a decision to outsource. There are many reasons that firms may choose to outsource, but there are usually more reasons not to.

The key reasons accountancy firms outsource are:

  1. Lack of good local staff to carry out work.
  2. Reducing overall cost of delivering services.
  3. Expanding the range of services available to clients e.g. providing a bookkeeping service that may not be cost-effective using
    local personnel.
  4. Obtaining access to best practice.
  5. Moving the firm to a systems-based delivery method.

Key considerations when reviewing your outsourcing provider professional

Consider the professional background of the key personnel in the outsourcing organisation.

Are they professionally qualified accountants?

Is the outsourcing provider subject to external regulation by a professional organisation?

AdvanceTrack® is an ICAEW Member firm run and owned by UK Chartered Accountants.

Quality

Before outsourcing to an external provider, quality is always a major concern, particularly if a firm has either never tried outsourcing before or had a bad experience before.

As a business run by UK Chartered Accountants, Quality has always been at the core of the offering from AdvanceTrack®. The Quality systems employed within AdvanceTrack® manage a more consistent level of quality. These are then subject to external audit by BSI. AdvanceTrack® upgraded to the latest version of the ISO9001:2015 Quality standard in January 2016, within a few months of its release.

Security

Whilst Quality is clearly a concern, the one area that causes greatest anxiety to any professional firm is how the data is safeguarded in the new era of organised cybercrime.

There are a lot of risks of handing confidential data. Responsibility under the Data Protection Act always remains with the client rm. It is therefore extremely important that any outsourcing provider deploys strong protocols in managing confidential information.

We discuss systems later on, but these are critical for external independent review. Having an internationally recognised International Security Standard provides firms with greater confidence that there are strong protocols in place that reduce the possibility of data loss. The certification provides impartial evidence that AdvanceTrack® is following and exceeding industry best practices as part of a corporate governance program and has implemented a robust management framework regarding information security and quality.

AdvanceTrack® are certified to the latest Information Security Standard ISO27001:2013. They are the only major UK Accountancy Outsourcer holding the two latest International Quality and Security Standards.

Systems

We help analyse the process to migrate work, simplifying the process to keep your senior management input to a minimum. Supported by our UK office with ICAEW Chartered Accountants as part of your client management team, we reduce the costs of delivering a scalable outsourcing solution.

Our processes put qualified accountants at the centre of process migration, allied using robust secure technology providing a fully scalable solution to firms of all sizes.

Systems have always been centre stage at AdvanceTrack®, with such systems delivering job tracking as far back as 2006. AdvanceTrack® have constantly enhanced systems throughout. In 2017, AdvanceTrack® introduced enhanced systems fit for 2017 and beyond by rebuilding their platform.

These enhanced systems deliver seamless management of cloud bookkeeping and the full range of accounting and tax compliance services managed from any internet enabled device.

If you want to work with a forward thinking professional outsourcer who leads change, choose AdvanceTrack®.

 

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