Freelance services are one of the top decisions when it comes to outsourcing accounting. Accounting firms of various sizes want to avail of outsourcing services like accounts preparation, financial reporting, filing tax returns, and bookkeeping.
There are routine tasks and some strategic consulting jobs which are being outsourced. Mid-sized accounting firms are facing a talent crunch.
You need to have knowledge of Accounting Software like Xero, TaxCalc or IRIS to get outsourcing work.
What Is the Client Looking for?
When outsourcing accounting work, the client would be looking at:
Transactional Work
When it comes to accounting work, most of it would be transactional work. There would also be some work related to data analytics, business strategy and consulting or strategic advisory.
Quality Parameters
The companies in the US, UK or Australia would be assessing your firm based on certain parameters like communication skills, TAT and quality. The company outsourcing accounting would also look into the work culture of your organization. When you are meeting a potential outsourcing company, make sure you understand their work culture.
Free Trial
A great incentive for the company would be a free trial to access your quality and delivery capabilities. Your online security policy will also be tested. It is important to highlight your capabilities during the free trial. This will improve your chances of getting a contract.
How Do I Get Started?
Here are some of the strategies you can employ to get accounting outsourcing work:
Get a job with an Outsourcing Firm
Since analytics will help you get the attention of your employer, try to get a job in this area. The outsourcing company should be an established and reputed one. Working with analytics will improve your chances.
Building Trust
You need to create a foundation for a long-term relationship with the client. It is not bidding and getting your first project that is difficult, it is getting repeat business. It’s not just your first project but all subsequent projects where you need to establish yourself as an effective and reliable player.
Market Yourself
To get noticed by potential clients, you need to improve your visibility. The various ways you can do that would be through banner ads, networking with companies, submitting articles at relevant forums, participating in trade shows and volunteering.
Effective Hard work
You need to put in hard work in an effective way by maintaining quality and meeting deadlines. This would be one of the factors client would be specifically noticing, in the free trails.
Join Accounting Forums
There are outsourcing forums relating to the US, UK and Australia where you may post your requirement. Companies who need to outsource will get in touch with you.
Sole-Sourced Deals
A sole-sourced deal is one where there is only one supplier in the market. If you have any contacts, ask them to get you this deal for outsourcing accounting work.
Do Your Research
Find companies who are already outsourcing accounting projects or are planning to do so. Connect with leaders of such companies through LinkedIn or other sources.
Consulting Partners
Sometimes there are consultants who advise companies outsourcing accounting work. Get in touch with these consultants and register yourself with them. Depending on your profile, they will connect you to companies wanting to outsource.
Profit from Accounting Work Outsourced by the US, UK and Australia
Different freelancing platforms like Fiverr, Upwork, etc, are a favorite outsourcing hub for accounting services from the US, UK, and Australia because of competitive rates and a skilled workforce. Accounting work, both transactional and consulting work.
Get your infrastructure in place, decide your core area, build a skilled task force, understand the culture of the country outsourcing the work, and you’re ready to outsource.
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