Outsourcing may not be for everyone but companies that have decided to build offshore teams are experiencing phenomenal gains. If you’re interested in scaling your business and want to outsource, one of the things you need to know beforehand is that it will not happen overnight. But with enough time, you’ll discover that this long-term play will have an immediate upside.
Having a good relationship–one that is based on mutual trust and respect–with your offshoring provider is key in ensuring success. Managing that relationship begins when you select your partner.
Top tips when selecting your service provider:
- Check the provider’s background by asking the following questions:
- Who owns the company?
- What is their level of industry expertise?
- What is the size of the company?
- Where is the company located?
- What is their employees’ proficiency in the appropriate language?
- How reliable and flexible is the company?
- What is the depth of management?
- What is the company culture?
- Is the company a member of any professional accounting body?
- What are the professional qualifications of the staff?
- Evaluate the following:
- Speed of the internet connection
- Secure file sharing options for team members
- Software and hardware
- Communication flows
- Security measures like CCTV cameras
- IT support and data storage
The firm that ticks all or most of these items is the one you should go with. This will make maintaining a good working relationship easy. The following tips will help:
Set expectations and define your goals
Clearly define expectations right at the beginning. Doing so will allow both parties to identify what they can bring to the table. It is during this stage where you will be able to spot areas that need adjustment. Setting expectations allow you to assess how the provider will deliver in terms of productivity and output.
Another important thing to remember is to keep realistic expectations. At this point, you are already aware of the provider’s capabilities and limitations so set your expectations around those.
The lack of communication is one of the causes of failure when dealing with your provider. A good outsourcing relationship is founded on effective communication. When you’re able to voice out issues and concerns in an appropriate manner, both parties can resolve any problem.
Furthermore, good communication will help:
- Identify and avoid potential problem areas
- Build a positive culture for your offshore team
- Set goals and devise effective measures to achieve them
- Identify specific roles and tasks for all team members
- Identify standards of performance
Effective communication in the workplace will have a significant impact on your global accounting team’s productivity. By establishing the right communication rhythms, you’ll be able to clear up any ambiguity so you can minimise conflicts with your provider.
If you’d like to know more about establishing communication rhythms with your offshoring team, read this article.
A healthy outsourcing relationship is a product of regular evaluation. The provider’s efficiency will have a direct impact on your bottom-line. Create metrics and continuously monitor how your offshore provider is keeping up with your expectations. It is essential that you conduct a review monthly, quarterly and annually. Design metrics that are easy to understand. Here are our suggestions:
- Return on investment
- Billing process
Part of evaluating your offshore provider’s performance is the level of engagement of all team members. Here are some helpful guidelines to achieve that:
- Encourage feedback because these will help identify areas for improvement
- Strive to communicate with team members to forge positive working relationships
- Keep everyone abreast with updates and vital information that will help them perform their tasks well
- Include team members in strategic planning to keep them motivated
The success of your global accounting team will rely mostly on the quality of relationship with your offshore provider because it will determine their level of commitment to going beyond what’s expected of them and bringing the WOW factor to deliver awesome, high quality work.
If you are looking to increase capacity and scale your business, get in touch with our local industry experts Cameron, Shane or Cam today by calling 1300 896 522. Moreover, book a 15-30 minute, no-obligation appointment by clicking here.