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Tax Preparation Outsourcing


Outsourcing Tax Return Preparation to India

America's Largest CPA Firms (and Big 5) Outsource Tax Preparation

"In the long run, outsourcing is another form of trade that benefits the US economy by giving us cheaper ways to do things."
Janet Yellen, Chief Economist to President Bill Clinton, Wall Street Journal
The largest CPA firms pioneered outsourcing tax preparation and other accounting services. Economists expect smaller CPA firms to follow their example. Outsourcing online is an option that offers services at a much, much lower rate but with a highly productive mass work force.

CPA firms are discovering that outsourcing tax preparation online saves payroll, overhead cost and it's a giant step in freeing up valuable time.
"Only 19% of US businesses have an offshore outsourcing strategy, a study by Ventoro found. However, the percentage skyrockets to 95% if only Fortune 1000 companies are considered." - ZDNet Research

Outsourcing - Some Remarkable Facts !

"Outsourcing is not slowing down, in fact it's growing faster," says Pradeep Udhas, Global Head, KPMG Advisory Services. "This industry is going to go much beyond where it is today."

Here are some of the significant results of the "Strategic Evolution" research study by KPMG:
  • 89% revealed their plans to maintain their outsourcing transactions
  • 47% of the respondents remarked that outsourcing opened new doors for experience to them
  • 42% believed that outsourcing improved their financial performance
  • 27% remarked that competitiveness was greatly improved by outsourcing

Outsourcing has been declared as a life saver for the many CPA firms. The idea of tax preparation outsourcing has been developed to lessen the burden of tax preparation firms, so that they can manage their peak season tasks well. As the total cost for managing the tax preparation work by outsourcing firm is far lesser than hiring in-house staff, many CPA firms are making tax preparation outsourcing a part of their long-term sustainable business model.

Top 3 Benefits of Tax Preparation Outsourcing

By outsourcing your Tax Preparation the major benefits that your company would derive include:

Reduce tax preparation costsCost savings of 50% or more! Get Skilled manpower at affordable prices. Tax Returns prepared by us will cost up to 50% less than the average tax preparation cost currently incurred by a mainland firm. This reduction in cost will not only ensure increased profit margins, but will provide a significant marketing advantage for acquiring new clients.
Improve speed and serviceIncrease customer satisfaction. Quick turnaround time and improved client service. The standard turnaround time is just 1-2 business days.
Grow your practiceAccess to a dependable and trained back-office team well-versed in all the latest tax preparation software. No need to increase your staff during the busy season.

India - World's Leading Outsourcing Destination

India has a mature outsourcing industry with world-class systems and quality. Not only does India offer technological edge, flexibility, time-to-market and a competitive advantage, it also offers world-class infrastructure. India is fast becoming a major outsourcing center of the world. With the rapid growth of the industry there has been a distinct increase in the opportunities in outsourcing jobs in India

According to McKinsey, India has the potential to process 30% of US transactions by 2010. Currently Indian BPOs are handling 10% of all US transactions. Indian service providers provide cost effective quality solutions.

Outsourcing Tax Preparation Online - A Powerful Business Strategy !

"Only 5% of the global population lives in the US. That means that 95% of our potential market is outside the US. We need to stay engaged with the rest of the world, to keep those markets opened to our farmers, our service industry and our manufacturers - to businesses like yours."
Treasury Secretary John Snow, Speech to the Cincinnati Businesses
For many years the Big 5 consulting companies have used outsourcing as a strategy. At last you, too, can tap into reduced overhead and focused sales efforts just like they do.

Begin by asking this question -

"If today was my first day in business. Would I begin by building the staff and infrastructure to do this task, or would I look to see if someone else could do it better or cheaper ?"


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