It is without any doubt that accounting outsourcing services are becoming popular in the UK. It is expected that by 2025, the outsourcing industry in the UK will hit 22Billion Euros in revenue. That means there will be a vast reduction of in-house hires, and specific industries will be affected more. Accounting is said to be among the most outsourced services in the UK. In 2019, accounting took up 24% of the most outsourced business process service, according to a report by the cyber crew. This is 10% less than the top most outsourced service, which is IT support with 34%.
One of the main reasons why a majority of businesses outsource some services is to cut down on costs. Other reasons include transforming the business and improving the quality of services. According to a joint investigation by Forrest Brown and Accountancy Age in 2020, 73% of the interviewed accountants in the UK admitted that outsourcing could have a positive impact on any business.
How to find the best place to outsource any service
1. Customer reviews
You will quickly find customer reviews online concerning a particular service provider you wish to outsource. The best thing about customer reviews is first-hand feedback from people who have worked with a particular service provider. You will want to look out for a common complaint or compliment when going through reviews.
2. Referrals
You can always look for referrals from friends and family members who are already outsourcing a service you are looking for. Make sure that you are happy with what they are already working with so that you are not referred to a service provider that will not deliver as expected.
3. Hiring platforms
There are hundreds of talented service providers and agencies on hiring platforms like Fivver and Upwork. The best thing about these platforms is that you can find all the information you need about a service provider, including their ratings and how much they charge. If you are a small start-up, it is safe to work with a single freelancer, but if you have a medium size or large company, then hiring an agency will remove a lot of work from your hands.
Top 6 reasons to hire Sapphire to handle your UK Compliance work:
However, there are many reasons why you should trust us with your compliance needs; the following are the top 6 reasons why our clients choose us;
Trust in the caliber of the work produced.
You can trust the job done when you outsource to a reputable compliance company.
That is because we have years of experience with various clients and therefore we have the capacity to quickly handle any rising issues effectively. We also have a long list of returning and long-term clients, which indicates that we are doing a good job for them. We work for more than 50 UK practices/businesses at the moment, some of which amongst the top in the country.
By outsourcing, you may concentrate on cutting-edge problems
Outsourcing your compliance services will remove a lot of work from your desk, thus creating room and time to focus on important things. Many businesses are made up of different departments, which can mean hiring more people and finding enough space for them to fit in. For example, when you outsource our services, you avoid the costly hiring process and the need to find enough space to fit all your employees.
There are significant financial savings.
As already stated, in-house compliance services can be costly in terms of space and remuneration, especially if you have to hire a team to take care of your compliance. The hiring process is never a joke, especially if you need to interview a long queue of applicants. Nevertheless, finding the perfect fit usually is an issue for many companies, and finding one in most cases means paying them a huge salary. With Sapphire, on the other hand, we are already dealing with many clients; hence our cost of service is set to be fair.
Better service standards for your clients. Have time to give your clients a higher quality of service.
By taking off your compliance needs from your to-do list, you can focus on more important stuff like improving your client’s experience. You can update your to-do list with important things that will improve your revenue. These can include working on a new marketing strategy or researching ways to improve your product or services for clients and the future market.
Your workers will be more engaged if you outsource the more routine compliance work.
Employees today are after more than a good salary. They are looking for growth and new challenges that will give them the feeling of achievement. Having to handle routine compliance work can be a major turn-off to your employees, who will yarn for the opportunity to grow and face new challenges. This can lead to your employees looking for better job opportunities which usually comes at a huge cost.
A smart outsourcing business Allows for flexible service use. You haven’t heard the phrase. “pivot-turn” is enough.
Our experience in the compliance world makes us prepared to help you handle any accounting issues as they arise. At Sapphire, we have expert accounting officers specializing in various compliance fields. That means when the need to fill up new compliance needs as tax arises, you don’t have to hire a new accountant who is a tax expert. We will handle that for you swiftly. The same goes for scaling down; you need to get rid of some accounting services. You don’t need to fire anyone.
Bottom line
Digital accounting services are soon going to take over the world. It is only safe that you start to adapt as early as now. At Sapphire, we have a team of experts. Sapphire outsourcing is one of the early adopters of cloud computing. Apart from using all cloud-based accounting systems such as SAGE, IRIS, XERO, QuickBooks etc, Sapphire has developed its own enterprise software platform to manage workflow & increase productivity & customer satisfaction. Sapphire is pioneer in adopting new technologies to help you achieve digital transformation in your accounting department. Get in touch with us for enabling digitalisation in your business.
