Select The Right Accounting Firm To Take Your Business To The Next Level

Posted on 10/09/2016

The right accountant should know your business very well, be able to offer suggestions at the right time, and identify the areas of improvements. If your accountant isn’t doing this, then you may need to consider looking for a professional who does.

There are several accounting and CPA firms in the marketplace. Selecting the right one that suits your business is the biggest challenge ever.

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People normally get suggestions/recommendations to identify the right fit. Nevertheless, the right choice for one business may not be the right choice for another.

Onshore / Offshore:

In this technology driven world, it is not cumbersome to identify the right firm that exclusively suits your business even if they are sitting thousands of miles away.  Here is the comparison of onshore and offshore benefits:

Offshore Onshore
Chats/emails/Phone calls to meet everyday Face to face meetings on daily basis.
Process based approach to win the competition in global market No unique or distinct approach.
Availability of secondary contact. Team based delivery model Individual dependency.
Lowers capital requirements. Cost involved is minimal Cost involved is high.
Round the clock availability  Availability is only during your business hours

Selection Criteria:

For a variety of reasons, the offshore world is successful because of their cost and quality they bring into the international market. Few factors to be considered while selecting the accounting firm irrespective of their location:

  1. What is their level of expertise in your specific industry and what can they offer your company?
  2. Are they proficient in softwares?
  3. Does the company have the resources available to grow along with you?
  4. Do they have redundancy for all critical resources? What is their backup plan in case of emergency?
  5. What is their reporting mechanism?
  6. Are they reliable, and proactive?
  7. How long are their services available? Do they provide round the clock services or just business hours?
  8. Have they got appropriate Asset Protection policies in place?
  9. Are their policies transparent? Can they be trusted?
  10. What about their Professional and Process Oriented Certifications and Practices? Does the service provider have anything as such?
  11. Do they render trial runs?

About Velan:

Backed by a team of certified and skilled accountants, Velan has a decade of experience in not just working with small businesses but also with mid-sized businesses and CPA firms. Processes practiced at Velan are ISO 9001:2008 certified for quality, and necessary controls are in place to ensure data security and confidentiality.  The best part is their ability to understand your needs and their innovative approach to handle the same. They add value to any business by providing customized SOLUTION rather than offering service to the current needs. For more information, visit www.velan-bookkeeping.com or contact them at 1-516-717-2049 or jeeva@velaninfo.com.

About Author:

Joyce is a full time manager specialized in marketing and consulting for more than a decade. After 10 years of working closely with CEOs and CFOs of several businesses, Joyce has a pretty good understanding on the ways to select the right accounting firm that would suit your business needs and will help in taking your business to the next level.

Thanks for reading my post. Hope this is useful.

Topics: Accounting

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