Page 79 - Quick Insights Book 2022

Chap. 21 – Knowledge Processing Outsourcing Centers (KPOs)

states then you must know the software that can help · Contact accountants or tax professionals of the particular
in country. For example, Certified Public Accountants (CPA)
in the USA can provide a good amount of outsourcing
a. online store management
jobs. The CPA might train your staff and recheck your
b. sales integration with accounting work before delivery. That will be a great learning and
earning opportunity in the beginning.
c. tax calculation and return filing
 Personal sources. There are many NRIs among our
 Software for smooth operations. For example, VPN to relatives and friends who are residing in developed
connect or search a particular country’s local website countries. Share your profile with them and request

 Necessary infrastructure like fast speed internet, some outsourcing jobs. They can also be used as
computers, scanners, printers, mobile phones etc. references.

 Skilled and semi-skilled task force. Precautions
 Knowledge of accounting procedures followed by There are a few precautions that need to be taken care of.
companies in that particular country.
 Do not take a voice-based job unless and until you have
 Knowledge of both cloud and non-cloud based working the required communication skills and instruments.
and software mostly used in the country of outsourcing.
 Those who wish to invest in KPO will need to spend
 Knowledge of tax laws money on building up the necessary infrastructure.
Initially do not make the bulk investment to get a bulk
Get desired work job. A single “stop working” email can spoil your full
investment and you may lose your capital.
How to get the outsourcing work initially is the biggest challenge
for a Chartered Accountant. The following may help you with  Do not rely on a new client unless and until you have
gaining clients: a good reference or track record. You can check client
reviews on various websites that provide outsourcing
 An updated and good looking website that contains all jobs.
desired information is first needed to attract a client.
 Know your capability and capacity. Do not commit
 An email on own domain. Email is used in communication anything unless you are confident. Be fair in your
from public domain websites like Yahoo, Gmail or work and commitments. You cannot do all work by just
rediffmail etc. are highly discouraged in developed googling the things or through research. You may get
countries.
negative remarks or low ratings on related websites and
 Profiles on major social networking and outsourcing that may lead to loss of future business.
websites. LinkedIn, Upwork and Guru are a few of them.
 Check client time zone and then commit working hours.
 Testimonials from clients. Video testimonials of that  Confidentiality is an issue that must be taken seriously
particular country will be an added advantage in getting as well.
outsourcing work.

Following are the major source to attract outsourcing Scope of work
opportunities –
A chartered accountant can undertake any sort of financial,
 The opportunities for professionals are available both as accounting or process work. There are numerous opportunities
a KPO service provider as well as services to KPOs. in process outsourcing that a chartered accountant can explore.
Contact available KPOs best known to you that can A few of them are listed below-
sub-outsourced their work at your office.
 Overseas company formation – That is the best idea to
 Registration and complete profile on major outsourcing start outsourcing. You get all accounting and tax filing
websites that provide jobs like LinkedIn, Upwork and work at the initial stage.
Guru. Many other websites provide outsourcing projects.
 Virtual CFO services
 A good looking and complete website can also help  Data Analysis and research
in securing clients. Regularly update your website to
include the best keywords used in the search. Search  Forecasting, Budgetary and decision support
Engine Optimization professionals can also be hired to
make your website more visible.  Training & Consultancy

66 Quick Insights on Professional Opportunities for Chartered Accountants