An interesting study by the resource
Moneyzine, which, among other things, highlights the following reasons in favor of outsourcing:
- 90% of accountants believe that there have been cultural changes in the industry;
- more than half of accountants consider providing financial advice as part of their work;
- 57% of accountants improve their technological literacy;
- 43% of accounting firms increase the scope of remote work.
The primary consumer of accounting outsourcing is small and medium-sized businesses, which resonates with the tendency to enter international markets. As noted by the above-mentioned Advanter Group research: “One of the strategies for overcoming the negative impact of the war on Ukrainian business is the development of exports. As of November, 27% of surveyed entrepreneurs are already exporters; another 17% said they plan to develop this direction.” And here, cooperation with consultants can be beneficial, as they know the specifics of accounting and tax reporting in other countries. And this will allow overcoming one of the obstacles noted by entrepreneurs – the need for knowledge, experience, and staff.
For example, our company Accounting HUB followed the path of global expansion in its development. We have registered a subsidiary company in the UAE and provide a full range of legal, tax consulting, and accounting services for Ukrainian and international businesses entering the Middle East market.
In conclusion, it is safe to say that the next crisis faced by the business is not only a challenge but also new opportunities that can be realized with the help of accounting outsourcing consultants to not only stay afloat but also scale in these difficult times.
