Vietsourcing Group Joint Stock Company

Question: Why do we need to outsource the accounting function? We are doing fine with our accounting team.

Answer:

Actually, it is very popular in Vietnam and in all over the world for an enterprise to look for professional accountant teams while its team is still doing well.

When outsourcing, it is the maximum cost savings and the high quality of accounting tasks that count.

When the cost of outsourcing is less than that of your internal team, you should seek for an external source. This is true in corporate accounting and many other business functions.

Let's think of the costs incurred when enterprises have their internal tasks done by internal accountant team. These costs include payments to employees such as salary, social and health insurance, bonus, training. The more staff you own, the greater the costs are.

Besides, you also have to pay for administration expenses for your staff: house rent, depreciation, water and electricity. These kinds of expenses are most likely ignored when talking about expense allocated per head. For a normal enterprise, these administration expenses for a staff are often 3 or 4 times more than his/her take home pay.

For example, we have to provide a computer, desk, training, allowance, parental leave to each worker. This means that when you pay 3 millions/month to a staff as his take home salary, total costs incurred for the staff would be about 9-12 millions/month.

With a simple calculation, we can see how big the expenses for an internal accountant team are in a medium and small enterprise. When this reality is uncovered, many directors of medium and small enterprises are so surprised about it.

At first, you may think that costs for hiring professional accountant team are expensive but it is actually less than that for an internal accounting team.

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