How outsourcing in Thailand saves you in so many ways
You may have thought about outsourcing as a business solution, but you still cannot bring yourself to dive in? Are you worried about handing over integral operations to an outside provider? GPS Accounting does not want you to look at outsourcing as involving “outsiders”. Rather, consider outsourcing as finding a specialised partner who can expertly handle administrative processes and tasks for you so you can focus on your business in Thailand.
Get the dedicated experts by outsourcing
First and foremost, outsourcing functions such as bookkeeping, accounting, and payroll means you let experts take care of these essential processes. Not only do firms like GPS Accounting know how to handle these activities smoothly and efficiently for you, but they also keep up to date on the latest rules and regulations to ensure your company stays compliant, avoiding run-ins with government bureaucracies and potential fines or losses.
Outsourcing saves time and money on software and hardware
You already have necessary capital outlays for your core business. By outsourcing accounting, payroll, and other administrative operations, you save on spending for the software and hardware needed. This includes the time and manpower for training as well as upgrading. Then there are the investments in physical space and staffing to support and maintain these departments.
You may say that you still have to pay the service provider. But, because the software, hardware, and staffing are their core business, the cost to you is a fraction of what it would be if you choose to do it all yourself.
Outsource to save on staffing
Let us talk about staffing. Hiring, training, and maintaining a finance manager, accountants, and support staff adds up. And this is not only in terms of just salaries. You must consider social security payments, healthcare benefits, annual leave costs, and then if you have to terminate, there are severance pay-outs or potential legal issues if the termination is contested.
With outsourcing, you are paying for the service while the firm, such as GPS Accounting in Bangkok, is responsible for the staffing that handles your bookkeeping, accounting, or payroll.
Have you thought of these other benefits with outsourcing?
In these uncertain economic times, it is difficult to predict the business environment from one day to another. Right now, it is COVID-19, but as the pandemic takes its course, who is to say what could happen next? You can leverage outsourcing firms to help you scale down, and then back up, allowing your operations to respond more effectively to cut-backs or windfalls.
Furthermore, firms like GPS Accounting usually offer real-time access to your records as well as regular reporting. This way, you can respond to possible issues faster than if you kept these processes in-house and had to wait for quarterly or annual reports.
Look to GPS Accounting to outsource bookkeeping and more
GPS Accounting has a team of experts in bookkeeping, accounting, auditing, and payroll management. We can help ease your company’s burden while providing you with the best services, compliant with the relevant rules and regulations for your business in Thailand. Contact us for a free initial consultation and discover how we can help you today.
