Practice Management Another perspective: Offshoring services Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Astrid Daniela Galvez, EA Modified Mar 19, 2024 2 min read Following Kristen Keats’ statement in “Offshoring tax and accounting services” on the benefits and considerations of engaging with offshoring firms, I felt compelled to share my own journey and the meticulous process I underwent before making this decision for my accounting practice. Like many in our profession, the concept of offshoring was met with a mix of curiosity and caution. To better understand its practicality and implications, I initiated conversations with peers at various accounting conferences, seeking their experience and advice. This exploratory phase was crucial, allowing me to gather diverse perspectives and set a strong foundation for my decision-making process. I dedicated approximately 1½ years to research before finalizing my engagement with an offshore team. My evaluation criteria were comprehensive, prioritizing aspects critical to our practice’s integrity and efficiency: Cybersecurity protocols: Understanding the importance of data security, I requested a copy of the prospective team’s current cybersecurity plan. I then requested my IT team to conduct a thorough review, ensuring their protocols aligned with our standards and the protection of our clients’ information. Workflow and specialized tools: Compatibility in our operational workflows and tools was another area of focus. It was imperative that the offshore team was proficient in the software and systems integral to our services. This ensured a seamless integration into our existing processes, minimizing disruptions and maintaining our quality of service. Pricing structure: Finally, I evaluated the pricing plans of three firms, seeking a balance between cost effectiveness and the quality of service offered. My decision was to engage with a team based in India, whose offerings were most aligned with our practice’s needs and values. Taking into account Kristen’s advice to start small, I opted for the least extensive package initially. This approach allowed us to gauge the offshore team’s efficiency and adaptability to our operations without overcommitting resources. Transparency with our clients was another principle I upheld throughout this process. I created a video message that was sent to all our clients in January 2024. This message outlined the upcoming changes and introduced new considerations for their engagement letters, ensuring our clients were fully informed and involved every step of the way. This journey of integrating offshoring into our practice was approached with careful consideration, due diligence, and a commitment to transparency. I advise all firms to do the same! Editor’s note: This article is also available in Spanish. Previous Post Our favorite timesaving micro automations Next Post Otra perspectiva: extranjerización de servicios Written by Astrid Daniela Galvez, EA Astrid Daniela Galvez, EA co-founded Accounting Specialists and Business Solutions, LLC, in 2013 with the support of her two sisters. The firm, known for its bilingual (English and Spanish) tax and bookkeeping services, focuses on aiding small business owners, self-employed individuals, start-ups, and entrepreneurs through cloud-based solutions. Astrid is a passionate educator, especially for small business owners in underserved and minority communities. More from Astrid Daniela Galvez, EA Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email. Δ Browse Related Articles Practice Management Offshoring tax and accounting services Practice Management Otra perspectiva: extranjerización de servicios Advisory Services What are accounting advisory services – consultin… Grow your practice Why Our Firm Started a Modern Tax Practice Practice Management Why you need accounting practice management software Advisory Services Chris James, JD, on offering advisory services Advisory Services Top client accounting and advisory service resources Practice Management Favorite podcasts for tax and accounting professionals Advisory Services QuickBooks Connect: Activate your practice into advisor… Advisory Services The 13 characteristics of the modern accounting firm