Outsourcing of financial services, including accounting, as well as legal and consulting functions, in whole or in part, to specialized companies is one of the most common phenomena in the business world. And although a number of Armenian companies still prefer to go the traditional way of keeping internal teams, outsourcing these services has a number of advantages from the point of view of both small and large businesses.

Samvel Danielyan, partner of BDO Armenia company, head of accounting services, presents 7 reasons: what are the advantages of considering transferring the professional services of a team established in the field, in this case to BDO?

 

1 . You save money

Transferring certain functions of the company to an external company helps to significantly reduce operating costs and therefore increase profits.

During outsourcing, fixed salary costs are replaced by an hourly fee paid for a specific service, which means that the client pays only for the service received, which enables a more flexible policy.

On the other hand, companies that offer outsourcing services provide employees with the necessary equipment and space, and generally avoid the expense of purchasing accounting software, again reducing costs.

 

2 . You are dealing with a team of professionals, not an individual

The BDO team has appropriate education and professional qualifications. At the same time, we have a three-level system, which means that the work performed by specialists is checked by managers and monitored by Partners, significantly reducing the possibility of possible errors.

At the same time, we take care of the involvement of experienced specialists and continuous professional development, therefore the client is also freed from the obligation to invest in the recruitment and training of specialists.

The client is always aware that he is not alone when making decisions or when problems arise. We do not pose problems, but offer an effective and profitable way to solve the problems.

 

3 . You save time

Delegating certain functions saves time and provides an opportunity to spend the saved time more efficiently. As mentioned above, professional teams include managers and leaders, therefore the time spent on supervision is also significantly reduced.
Essentially, in this case, the burden of management is also outsourced to the service provider.

During tax inspections, studies, the Client does not involve in these works. It is carried out by a professional team that helps the Client not to deviate from his normal work and waste time.

As a result, the Client focuses on the actual activity, using human and financial resources more efficiently, saving the most valuable thing - time.

 

4 . Field experience

At BDO, we provide services to more than 200 companies annually, which gives us rich experience in various fields. And in order to make the best use of this experience, we have created professional groups to ensure a dialogue between specialists. Therefore, we can offer a professional team that knows the nuances and specifics of your industry.

 

5. International toolkit

Cooperating with companies that are members of international networks provides access to international experience and tools in addition to local experience, the inclusion of which adds value from the perspective of the Client Company.

At the same time, companies like BI-DI-O provide an opportunity to make connections in foreign markets more easily. In our case, we are ready to offer you reliable consulting teams in 167 countries of the world, which will help you make the right decisions, taking into account the legal regulations of the given country and the characteristics of the market.

 

 

6 . A significant reduction in r

 

Outsourcing relieves several risks at the same time:

• Risk of staff turnover . the client company does not have to face the situation when the employee, for whose professional growth significant financial and time resources were invested, changes the job, disrupting the normal business process. With outsourcing, the transition is much smoother and free of additional risks and costs.
• Risk of professional error . unlike internal teams, outsourcing companies prevent possible risks due to high professionalism and teamwork. At the same time, these companies have professional malpractice compensation systems, which finally relieve them of possible risks due to professional malpractice.

In any financial transaction, we help the Client conclude effective transactions by identifying possible tax and financial risks, choosing the most efficient option for the Client.

 

 

7 . We are ready for the future

The continued development program of specialists, as well as teamwork, are the basis for the team to be timely informed of all the main changes expected in Tax and Accounting, about which the Client is naturally informed, as well as the impact of this change on the specific Client's activities is provided. As a result, the Client does not spend additional money for consultations or involving other specialists. 

 

 

Do you have additional questions? Contact us by phone number 060 52 88 99 or e -mail bdo@bdoarmenia.am . at the address.