I recently searched for “offshore accounting partner for accounting firms” on Google, and guess what? 1.1 billion results. That’s right—1.1 billion!
To call this topic overwhelming would be an understatement.
Every outsource and offshore accounting provider has their own “tips and tricks” to manage offshore teams, and every partner claims to be the most cost-effective, reliable solution.
By the time you’ve researched, vetted, partnered, and discovered that your chosen offshore partner doesn’t actually know how to handle outsourcing and remote work, you could have already scaled your firm.
This flood of unprepared outsourcing providers is one of the reasons Credfino was created.
Our focus isn’t just to provide staffing services—we’re here to educate accounting and tax firms on how to do offshore accounting the right way.
Does that make us an amazing offshore accounting partner? Absolutely.
Because we walk the talk too.
We also know the industry is filled with buzzwords like “outsourced accounting” and “offshore accounting,” often thrown around interchangeably. What do they actually mean? How are they different? What staffing models for outsourced accounting exist? And most importantly, how can tax firms use offshore tax preparation to make tax season smoother?
We’ve broken down all of these questions in our previous blogs.
This blog is about something different—how to choose the right offshore accounting partner.
Something no offshore accounting partner will tell you – signs that can tell whether a partnership will work before you even get onboard.
What are those signs? What should you look for?
You will have better clarity by the end of this blog.
Let’s dive in and explore how to make the right choice.
When choosing an offshore accounting partner, their experience and expertise should be at the top of your checklist.
Here’s how to evaluate this crucial factor:
A. Check Their Experience with Similar Accounting Tasks
Not all offshore teams are created equal. Look for providers with a proven track record of handling tasks that align with your firm’s specific needs. Whether it’s tax preparation, bookkeeping, or advisory services, their experience should mirror the scope and complexity of your work.
Credfino has an amazing reputation among CFOs and CPAs with ecommerce bookkeeping clientele. Because we hold expertise in the field and created a custom data infrastructure to automate bookkeeping.
Ask your offshore accounting staffing provider for their expertise to make sure that you two are the right fit.
B. Check Retention Rates as a Trust Indicator
High client retention rates speak volumes about the quality of service. It shows that clients are satisfied and that the provider consistently meets or exceeds expectations.
C. Conduct Industry-Specific Reference Checks
Don’t just take their word for it. Ask for references and speak to at least two clients in your industry. This will give you an insider’s perspective on how the team handles similar workflows, client communication, and deadlines. It’s an extra layer of assurance before making your decision.
D. Verify Expertise with Accounting Software and Tools
Your offshore team should be as fluent with your tech stack as your in-house staff. Look for proficiency in key software like QuickBooks, Xero, or your preferred tools. But don’t stop there—dig deeper to assess their:
A team that understands your firm’s culture and communicates effectively can make or break the partnership.
Here’s how to evaluate cultural fit and communication:
A. Language Proficiency
Your offshore accounting team must excel in your preferred language to ensure clarity in every interaction. Whether it’s drafting emails, discussing complex financial issues, or addressing client queries, strong language skills eliminate the risk of miscommunication.
B. Communication Tool Usage: Frequency and Effectiveness
The tools your offshore partner uses for communication matter as much as how often they use them. Ask about their proficiency with platforms like email, Microsoft Teams, Loom, or Zoom. Look for signs of:
At Credfino, we have a strict end-of-day update policy and make sure to revert clients within 24 hours. Schedule a call if you are ready to explore offshore accounting with us.
C. Understanding Your Business Culture
A true offshore partner does more than just execute tasks—they integrate into your firm’s workflow and culture.
Gauge their willingness to:
D. Alignment Over Time
Cultural alignment isn’t a one-time check; it’s an ongoing process. A partner who prioritizes understanding your business ethos and continuously improving their communication practices will set the stage for a lasting, productive relationship.
When it comes to outsourcing accounting work, technical and security infrastructure isn’t just a checkbox—it’s the foundation of a secure and efficient partnership.
Here’s how to evaluate your offshore provider’s setup:
Your offshore team must have the tools, systems, and processes to handle your specific accounting tasks seamlessly.
Check for:
A. Data Protection Measures
Security is non-negotiable when you’re sharing sensitive financial data. Dive into their security protocols:
B. Zero-Chance Data Leakage
A Virtual Desktop Infrastructure (VDI) setup is a great way to ensure data security. With VDI:
At Credfino, we are keeping the client data secure for over 100 accounting and tax firms. We have RDP, VDI, encryption protocols and other top cybersecurity measures at place. Schedule a call to know more.
The qualifications of their team directly impact the quality of work you’ll receive:
Evaluate whether the provider can adjust their services as your firm grows:
Ensure the provider has a track record of meeting growth targets:
Time zone differences don’t have to be a barrier. When planned thoughtfully, they can enhance your operations, allowing round-the-clock productivity and faster turnaround times.
Ask your offshore accounting service provider about their measures to collaborate minimizing the impact of working in different time zone.
B. Strategic Planning for Real-Time Collaboration
Implement strategies to maximize overlap:
The key to breaking the “outsourcing nightmare” stereotype is preparation. Vet potential partners thoroughly, assess their ability to adapt to your needs, and prioritize those who align with your firm’s culture and goals.
With the right offshore partner, you can streamline your operations, focus on high-value tasks, and scale your business without the stress.
At Credfino, we make offshoring easy for accounting firms taking the leap for the first time. Supporting over 100 CPAs and accounting firms across the USA and Canada, we specialize in professional offshore accounting services designed to help you scale effortlessly.
Our approach is simple yet impactful:
Whether you’re looking to expand your capacity or reduce operational stress, we’ve got you covered.
When offshore tax preparation doesn’t work, it’s rarely one-sided. The challenges often stem from both the tax firm and the staffing partner.
You being caught in the relentless Tax Season Stress Cycle every year, is a choice. Make these changes in your tax firm to have an easy tax season.
With these LinkedIn tips, you won’t just know why LinkedIn works—you’ll have actionable strategies to start bringing in business for your accounting and tax firm.