Offshoring Myths: Busted!

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Offshoring Myths Busted!
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• We are very open with how we deliver our service,
  which is a combination of local team and
  off-shore team members. And we have very clear
  reasons why we think this is the perfect
  combination on delivering timely and accurate
  financials, at an effective price with the best
  customer experience. There are plenty of
  passionate views as to why people think its
  either a great idea, or a terrible process. Weve
  been working with offshore team members for over
  10 years and think that its wonderful! once
  youve got your processes nailed.

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• In this blog post, we will draw from our
  experience and talk through some of the myths and
  compare them to our reality.

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• Offshoring is unsafe  This is a common myth that
  has been spread around by those who do not
  understand the concept of offshoring. By
  outsourcing to an offshore company, you can be
  assured that your data and information will be
  safe from hackers as it isnt stored in one
  place. Technologically savvy businesses know how
  to lock down IP addresses, and ensure that only
  relevant data is available to the offshore team
  at the time and location they are working. There
  are many MS office setups that can help you
  implement higher security for your data.

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• Offshoring hurts local jobs  This type of
  thinking is old-fashioned and doesnt consider
  the global economy. Offshoring creates jobs as it
  grows the economy. It helps business reduce costs
  and attain greater disposable income to grow and
  intern create more onshore jobs. We use it to
  differentiate roles, our local team are regularly
  talking on the phone to our clients, whilst
  supported by their team off-shore.

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• Offshoring is too expensive  This may have been
  true in the past, but offshoring has become more
  affordable over time. You can now get
  high-quality work done at a fraction of the cost.
  There are several websites that help you connect
  with outsourcing companies. Some of the well
  known ones are Freelancer or Upwork, but there
  are also industry specific providers too. These
  companies already have the infrastructure and
  talent pool set up.

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• Offshoring is not scalable  This myth has been
  used by some companies to discourage offshoring,
  but it really isnt true. In fact, many
  outsourcing and offshoring experts have stated
  that scaling your business with a global team can
  help you grow faster than ever before. Offshoring
  forces you to be explicitly clear with your
  processes and expectations which are key in any
  growing business.

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• Offshore workers are underpaid  This myth is
  often used to discourage offshoring, but the
  truth is that the cost of living varies
  significantly in countries around the world. We
  are proud to have team members that are
  supporting their whole family while working
  regular hours at iKeep.

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• Offshore workers are unqualified  This myth has
  also been debunked by experts who have stated
  that many offshore companies employ highly
  educated and skilled professionals. There are
  several controls in place that ensures that the
  resources have globally recognised qualification.

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• Only big businesses outsource  This myth is also
  untrue. Small businesses can outsource and
  offshore their work to get the same benefits as
  large businesses. There are even dedicated
  freelance resources available that are highly
  cost effective.
• The only aim of outsourcing is to cut costs  You
  can outsource to improve your processes, increase
  your revenue, and scale your business. For
  several business its easier to get technical
  expertise overseas and its a big reason for
  outsourcing.

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• Outsourcing is not meant for small businesses 
  small businesses can outsource their work just
  like large enterprises. The only difference is
  that they will have a smaller team compared to
  big companies with dedicated teams focusing on
  each task individually.
• Outsourcing is only for low-skilled work  This
  myth has been debunked by many experts who have
  stated that the type of work you outsource
  depends on your goals and needs, not the skill
  level required to complete a task. For highly
  technical works including IT support it is a
  necessity to outsource.

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• To successfully run an off-shore team along side
  your local team involves a significant investment
  in communication and clarity of process.
  Sometimes these things are not as clearly
  articulated when everyone is working under the
  same roof. Clearly defined roles and processes
  are also factors in high growth businesses, which
  is why we think its a great match.
• Contact us today for more information about our
  outsourced offshore bookkeeping services.