A 2017 Gallup survey revealed a significant number of American employees have embraced remote working and they are doing so for more extended periods. This isn’t surprising at all in an age where technology has blurred the lines between the physical workplace and the place where work happens.
Fortune 500 companies such as Dell, Amazon, and Apple already have growing remote teams in place. On top of this, the share of remote employees from finance, insurance, and real estate industries has increased from 39% in 2012 to 47% in 2016, a pace faster than other fields.
If we talk about only the accounting industry, easy access to online accounting software and communication tools has made it possible for an accounting practice to work with the best talent, without being bound by geographical boundaries.
But remote work is still at a nascent stage, and it is entirely possible for any CPA or an accountant running his or her practice to get doubtful about hiring remote staff. If you are in a similar situation, below is a short list featuring the benefits of remote staffing at your accounting firm.
Access to Specialized Staff
It’s obvious that to grow you can’t keep offering basic functions such as A/P, A/R, and general accounting – you have to move towards providing higher skilled functions like budgeting, forecasting, and internal auditing. It isn’t necessary for your accounting practice employ workers with the skill and time, or have the right software to begin offering such services. Remote work allows you to choose the best talent pool across the nation and even globe who provide highly specialized services.
Improved Productivity
91% of employees feel they get more work done when working remotely. That’s true. Want to get the most out of your employees? Let them work from home. Remote employees create a distraction-free work zone that allows them to work at a faster pace. Plus, they get to make their schedules. The increased control at work only makes them happier and more productive. Don’t believe it? Try it for yourself!
Reduced Overhead Costs
This one’s a no-brainer. When you have a remote workforce, you will not have to spend money on a large office. You will not increase your expenses in buying utilities like paper, print cartridges, recycling, and paying for electricity. Did you know American Express has saved up to $15 million on a yearly basis all because of remote working?
Small and medium-sized CPA firms lack access to best practices such as technology and infrastructure to perform efficient accounting functions. However, with the help of extended remote staff, they can quickly achieve equal if not better efficiency and productivity levels as their big competitors.
24/7 Operations Support
Around-the-clock work is possible when your workforce is distributed across the globe, which means different employees in different time zones. But you know what? That’s a good thing. The QXAS team in India, for instance, finishes up all tasks by the time clients in the US start their day. Sounds good, doesn’t it?
The routine allows both the teams to submit and review at a time best convenient to them. As far as customer service is concerned, this too can be sorted if the teams work in different time zones. In such scenarios, customer queries are resolved quickly.
End Notes
Outsourcing proactively addresses talent and retention issues. You don’t need to break a sweat to supplement your staff and technological support when you can get all the help you need from an accounting outsourcing partner.
QXAS, the company I work for, specializes in outsourced accounting. If you are interested in expanding your practice let QXAS become your extended staff that works remotely. Find out what it likes to work with us and how efficient our services are by starting a no-obligation Free Trial. Does this interest you? Write to us at contact@qxas.us.com or call us on 1-800-310-9312 to get started today!
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Hiring remote workers is the new trend for business owners. Thank goodness for the recent upgrade to our technology and the ability to outsource annoying business tasks to remote workers. Hiring remote workers to do these tasks has become a huge benefit in the workplace. Running a business can be an exhausting job that requires so much of your time. Business owners have recently discovered the opportunity of hiring a virtual assistant, also known as a remote employee.
Thanks DAILYCPA for sharing this niche blog
Thanks for sharing this..
Such good information. as pandemic going on work from home and work remotely is new for all businesses. there are so many benefits for businesses to handle accounting process remotely.
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