People | AdvanceTrack Outsourcing

In our latest FAQ, AdvanceTrack MD Vipul Sheth sets out the firm’s ‘elevator pitch’.

In some ways this question is difficult, because I believe we have numerous outstanding traits that make us a brilliant outsourcer and offshorer.

But, if pushed to provide a three-pronged elevator pitch, this is the response:

Why we do what we do

My parents ran a business that, without the support of their fantastic accountant, wouldn’t have got to where it did. His advice and insight has proved inspirational to me and, as I developed as an accountant, I saw an opportunity to develop a business that would be a critical business partner to the advisers themselves – you.

This forms the start of my elevator pitch because I feel that it sets out the stall, the foundation, for everything we do at AdvanceTrack. We want to make lives better, and we want our practice clients to want the same for their clients. Our relationship is formed on this basis. Read our FAQ on how we begin working with practices.

Technology as a foundation, led by people

We are a technology-driven business. We’ve been paperless from the start, developing and evolving our cloud platform for many years. The tech enables us to keep our promises around the most robust security combined with good workflow and processes. How do we prove that?

Firstly, we have case study material – our most recent case study is here. Secondly, and much more fundamental to our operations is the consistent high-level external audits that we face every year. Our many BSI certifications covered international standards on security, data privacy and business continuity. We recently broke ground by achieving a UK-first security standard – details of which can be viewed here.

Honesty

We’re an ethical business, which includes a company-wide commitment as an ICAEW member firm (and for me as an ICAEW-qualified chartered accountant). Honesty and complying with the law are things we do as a matter of course. Proving this is not so straightforward – again, the quality and long-term nature of our client base is probably the best evidence in providing demonstration.

If you’d like to chat to us about helping you develop your practice, please get in touch by clicking here.

Changing the game in outsourcing

Outsourcing has in the past always been seen as wage arbitrage. In many ways, some outsourcers have always seen it that way. Some offshore delivery centres always try to sell full time employees. This always means that any growth the firm experiences, means additional headcount.

This neither benefited your client or the firm in the long term. Why do we believe that? This leads to a lack of innovation or efficiency within the process, because you are wholly linked to growing staff head count and their availability to do the work.

Wage arbitrage also then means that outsourcers need to move around the world to the next cheap location to stay “cheap”. Whilst in principle, that is possible, most businesses cannot uproot an entire business from one location to another overnight without having an impact on service levels.

Continuous improvements in processes

Some businesses culturally find it difficult to improve their business. Professionally run outsourcing businesses consider Quality and Security to be at the centre of their business. If you consider the reasons why you would or wouldn’t outsource, these are the two areas that will keep you from taking the decision to outsource or not. An outsourcing provider that uses external audit of their processes will help you become more comfortable in taking that decision to outsource or not.

AdvanceTrack^®, for example, use BSI to review their Quality and Security protocols to provide customers with an external oversight. It is important that the certification body is one that has global recognition and standing.

Technology vs. People

We discussed above the need for innovation. Whilst people do become more efficient over time, they are never likely to improve at the pace that technology will move. Technology will also deliver a more consistent approach. This could equally mean that they consistently get it wrong too! Nonetheless, we are seeing great improvements in technology to improve the customer experience.

Technology and innovation at AdvanceTrack^®

At AdvanceTrack^®, we have always believed that technology and innovation are at the heart of the process. We believe as a result, our innovation leads to more consistent delivery and we share the benefits of that with our client rms. Our approach has Quality and Security at the heart of it.

The AdvanceTrack^® Cloud Platform

We are delighted to formally announce the launch of our new cloud connected AdvanceTrack^® platform, allowing seamless delivery of cloud bookkeeping and compliance services. Fully managed by our systems, our offshore teams deliver timely bookkeeping, accountancy and tax compliance services.

Whether you want daily, weekly, monthly or quarterly bookkeeping, our systems will manage the work, keeping you fully up-to-date with where the work is. Our first cloud platform brought real time information to our customers as far back as 2006. Today, in our connected world, fully trained staff will look after the basics, but fully managed by our automated computer systems.

Change your views on outsourcing forever. This service enables client firms across the world to bene t from the AdvanceTrack^® secure delivery platform and highly trained workforce. Wherever you are in the World, our teams can now work with you seamlessly in the cloud.

What do AdvanceTrack^® services allow you to do?

Deliver the value-added services that your clients want. Deliver your services to more clients than you do today.

How do we do it?

We’re not going to put that in print, but bright engineers within our business have taken apart our processes and allowed you; the client firm; the ability to walk out of a client’s office and pass the work to us on your phone before you get to the car! After that, just watch as we complete the work when required.

All you and your team now do is manage your clients and discuss the output with the client. With up-to-date information, Accountants deliver greater value. Cloud accounting products like Xero and QBO enable more tools to plug in to the financials to give a greater range of information by which the business can be run. Xero has around 500 add-ons, whilst QBO are growing their add-on marketplace.

Many of these add-ons will add value to either the process or particular niche businesses. All of our businesses are evolving as cloud technology moves forward almost on a daily basis. If your outsourcer isn’t moving you forward, talk to AdvanceTrack^®.

Our work isn’t complete, so watch out for our continuing innovation in this space. Our determination to be recognised around the world as the best accountancy outsourcer is undiminished. Upgrade to a better way of outsourcing. Talk to AdvanceTrack^® today.