OUTSOURCING ACCOUNTING TREND: THE IMPORTANCE OF SHIFTING TO CLOUD-BASED ACCOUNTING

Many years ago, accounting records were stored on a desktop, and managing day-to-day bookkeeping required someone to be in the office recording transactions, paying bills, and invoicing clients. Today, the accounting profession has advanced by leaps and bounds. It is anticipated that accounting is a dynamic field that changes constantly. Accounting developments today are influenced […]

The Construction Labor Shortage and its Impact: Addressing Skilled Labor Shortages

In 2020 and 2021, a global pandemic was an unknown risk that the construction industry had never anticipated and like all business and industry segments, construction was significantly impacted by two years of pandemic disruptions and continues to grapple with its lingering effects. According to the U.S. Bureau of Labor Statistics, the unemployment rate in the […]

Discover the Benefits of Tax Return Outsourcing for CPA Firms and Tax Firms

In today’s global economy outsourcing has become the go-to maneuver for businesses looking to streamline their operations to focus on their core business functions. This adoption of business strategy is no different for CPA firms, leveraging outsourcing tax preparation to grow their productivity and scale their business to the next level. Dealing with a busy […]

Understanding Construction Financial Management – Ensure Long-Term Financial Health and Sustainability of Your Business

The construction industry, like any industry, requires a well-defined product or service, enthusiastic and talented personnel, and a strong customer base to succeed. However, success in this industry is considerably more challenging than in most sectors. According to Census Bureau data, over the last 10 years, construction businesses failed at nearly 1.5 times the rate of companies in other […]

Social Media Management: The “Golden Goose” Trend in BPO Companies

The Business Process Outsourcing (BPO) industry is now regarded as one of the world’s fastest-growing industries. An industry where companies thrive from continuous innovation, easy accessibility to clients, fast business process development with a finger on the pulse of the most current industry trends. Due to this growth, it is only imperative to anticipate new […]

Summary of Changes under ASC 842: Become Compliant with New Lease Accounting Standards

Significant changes to lease accounting standards have been implemented for public, private, and nonprofit entities for fiscal years beginning after December 15, 2018 and December 15, 2021, respectively. The new leasing standards represents one of the most comprehensive changes to accounting standards in recent years. With this recent update it is essential for executives and […]

Cyber Security: Facing the Most Important Challenge in the BPO Industry

Outsourcing business operations has become one of the fastest growth strategies for many businesses in today’s global economy. Given the size and capacity of the BPO market, which is expected to reach $343.2 billion by 2025, it is no surprise that its popularity is growing at breakneck speed. With outsourcing industries growing bigger than ever before, […]

Outsourcing Accounting Services: A Solution to Maximizing Productivity

Do you spend way too much time on your accounting? Do you find it difficult to handle your business and accounting? Are you facing accounting and payroll delays? Is your company expanding too quickly for you to keep up withits finances? These are just a few examples of the issues business owners face managing their […]

The New 2018 Yellow Book: A Summary of What You Need to Know

The U.S. Government Accountability Office (GAO) issued an update to Generally Accepted Government Auditing Standards (GAGAS) (http://www.gao.gov/yellowbook). GAGAS, commonly known as the “Yellow Book,” was created to provide a foundation for efficient and high-quality government audits. The requirements apply to some governmental organizations and other organizations that receive grants from the federal government, including higher […]

The Requirement of Due Diligence in the Role of Customer and Supplier in Outsourcing

Outsourcing agreements are often long-term partnerships, and the services outsourced, whether IT or business processes are often essential to the customer’s organization’s future operation. Outsourcing service to another company involves more than simply a business and economic concern. As executives entrust another firm with their organization’s intellectual property, digital footprints, and growth, they must pay […]