Loading …

Benefits of Outsourcing Accounting Tasks in the Philippines

Every business needs a sleek financial management whether it is a large enterprise or a small startup. It is not possible to keep a thriving business if your accounting is

3 Great Ways to Fund Your Small Business

Every business needs funding. And there are several ways to get funded. However, you need to remember that what works best for others may not be the same for you.

5 Golden Tips to Finance Your Startup

Securing funds can be the toughest part of starting up a business. You may have a great business idea that has the potential to grow, but without a capital, it

Latest Outsourcing Trends You Have to Keep Your Eye On

Finding good employees at a short notice is very challenging for any company. You might find a young promising talent, but you still need to hone it with training and

Every business needs a sleek financial management whether it is a large enterprise or a small startup. It is not possible to keep a thriving business if your accounting is all over the place. Accounting has time-sensitive tasks as it must always be updated.

Accounting is not easy if you have limited time and resources as there will be a tendency that it will not be accurate. A great way to keep your accounting in good shape is to get data enrichment services or outsource it. Among the global outsourcing industries, Philippines ranked third among top countries and Manila ranked fourth in terms of city ranks based on sizable revenue. International companies who are outsourcing in the Philippines enjoy these benefits.

Save Money

Of course, all outsourcing companies are proud to say that you can save money if you do outsourcing since you don’t have to deal with employees’ salaries, benefits, and additional equipment. However, the Philippines offers the most efficient outsourcing accounting work at the lowest labor costs. The average annual salary of an accountant in the Philippines is Php 292,416. On the other hand, a person with the same job description earns around Php 2.6 million or $49,749 a year.

Access to Expert Skills

Filipinos are known to easily adapt and learn. The same goes for language and multiple skills. Add to that, Filipinos working in outsourcing industries are meticulous in their jobs especially that their firms have strict quality control. A simple mistake in accounting can deprive company growth if not bring it to ruins. With this in mind, you can access highly skilled accounting professionals in the Philippines. The Philippines has a 96.3% literacy rate and the accountants have an intensive knowledge of the tax code and laws on various industries.

Advanced Technology

If you do your accounting yourself, you have to buy tools and applications to keep things smooth. If you outsource your accounting tasks, there is no need to pay for those costs in full. Many accounting providers divide the costs to their clients, saving operational costs while still enjoying the same tools.

Securing funds can be the toughest part of starting up a business. You may have a great business idea that has the potential to grow, but without a capital, it will not even have a chance flourish right from the start. Add to that, many entrepreneurs fail to conduct thorough research to avoid underestimation of the needed capital.

You can just start a business and then stop halfway because you realize that the funding is not enough. The competition for funding increases every day, so we are giving you five tips so you can secure your funds.

  1. Be Detailed

No business will succeed without a thorough business blueprint. It can map out the course of the business for the years to come. Naturally, investors will want to see the value of the business they are investing in. A poorly written business plan will surely kill your business even before it gets started since no investor will risk money on something they are not sure will provide revenue.

  1. Keep a Good Credit Score

Banks are known to be risk-averse. They will not lend to anyone whom they know have bad payment habits. If you maintain a good credit score, you will be able to build your creditworthiness, and this will be the key to your business loan approval.

  1. Build Connections

You have to network with the right people. Grow your business by getting close with success-oriented individuals.  Professional networking can help businesses flourish in any industry. And it can help you find funds too with the right people vouching for you to investors. If you are not into face-to-face networking, you can try online through crowdfunding.

  1. Seek Advice

Get in touch with financial advisors and get advice on how you can adjust your finances to fund your startup. Additionally, they can suggest the right lending companies that can give you the best business loan deal.

  1. Shop for Financing

A business plan with systematic budget plans can help the license moneylenders decide if you will be able to grow your business and have enough cash to pay off your loan. Approach different financing institutions and compare the offers that you get. Choose the one that fits your needs and with payment terms that you can settle with ease.

Doing the said tips will increase your chance of finding an investor, bank, or a financing firm that will fund your startup. Once you have your cash, hire the right people to support you in growing your business and making your ideas into reality.

Most business owners think that search engine optimization (SEO) is a standalone practice. They fail to see that it is actually an integral part of an overall business marketing efforts. The traditional focus on the keywords still counts as one of the most important parts of SEO strategies. However, you must not also lose sight of other factors that can impact your online presence as well.

Audience

You may have a set of keywords which your competitors are also targeting, but you must not forget about your target audience. How will you deliver your content and keywords that can target the group of people that you want to sell to?

Simply put, your content must be directly relevant to your target audience. What are their pain points? What are the solutions you can provide? Do you have some tips and advice to help them? You can use your website to build a blog and give the search engines the useful content that they want.

Differentiation

You need to define your niche. To be able to create a good content that is relevant, you need to know which niche you belong to. Every content you create must meet your business goals. Add to that, it will your target market differentiate you from your competitors as you become the thought leader in your industry.

Content Creation

Do you have the time and skill to create eye-catching or satisfying content? Can someone on your staff help you? Or perhaps you need to hire a freelancer who can create a content for your website. You can have a lot of options. However, it is best to hire someone who knows how content and SEO works hand in hand.

When optimizing your website, there are a lot of factors to consider. This is why it is better to hire an SEO expert who could offer affordable small business seo services that can focus on your digital marketing while you focus on growing your business.