Services provided by accounting outsourcing companies are designed to meet the accounting, tax, financial management and consulting needs of companies. They can perform a company’s monthly, quarterly and annual accounting and bookkeeping tasks, or supplement the present staff to lessen the usage of administrative time. This enables a company to concentrate on its core competencies leaving the specialized support functions to professionals. When evaluating a city to outsource Finance and Accounting (F&A) work companies need to consider various factors, with security and privacy being amongst the most important. Specifically, the companies need to evaluate the cities for:
•Labor cost arbitrage
•Compliance environment
•Data security environment
•Scalable talent pool
•Quality of talent pool
•Cultural compatibility
•Existing F&A process capabilities
•Proximity to financial centers
