Friday, October 30, 2009

Book-keeping contracts to remain strong for BPOs: Study

NEW DELHI: Outsourcing will remain strong in 2008, with HR outsourcing contracts worth $1.1 billion and finance & accounting outsourcing (FAO) contracts worth $600 million coming up for renewal, according to offshoring advisory firm Everest Research Institute.

In its study 2008 Market Predictions, the firm said that demand for FAO services will continue to be strong in the next 12-18 months, as large buyers in the exploratory phase begin to initiate actual engagements. “On the supplier side, battle for market share will intensify. While companies like Accenture, Genpact and IBM hold over 65% share, companies like Xansa, WNS, HP, Infosys and Wipro are fast emerging as notable contenders,” the Everest study said.

The firm also expects greater location diversification among suppliers, and a shift in the nature of contracts. Transaction-based FAO engagements will evolve to judgment-intensive processes such as regulatory reporting, compliance and analysis, it said.

In 2008, captive units, niche BPO players and technology providers would be prime acquisition targets. Some captives, particularly in the financial services space, would see change in ownership and become third-party suppliers, the offshoring advisory firm has predicted.

According to apex software and services association, Nasscom, finance and accounting (F&A) accounts for about 40-45% of Indian BPO revenues. HR administration services, including payroll and benefits administration, travel and expense processing, talent acquisition and talent management services, account for about 2% of revenues.

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Friday, October 23, 2009

Bookkeeping: Selling Half of CNinsure (CISG)

Chinese insurance firm CNinsure (CISG) is up about 4.5% on double the normal volume in just the first 90 minutes. Maybe there was a positive brokerage note out on this name... I don't see any particular news and earnings are not for a while. I assume something is up, but who knows what it is.

As the stock is peaking, and potentially forming a double top (or a double top breakout) I will sell half our stake north of $24 and look to rebuy lower OR... if the name clears the mid $24s, we'd be interesting in buying say north of $25 as that would mark a potential new leg up. I'm ambivalent on which it is...

Speaking to the greater market we are in a no man's land spot here... white noise. Until we get to new highs (>S&P 500 1100) or retrace more severely it's just high frequency trading machines milking the market and collecting their cute rebates. With the gap filled we are boxed in at the low 1070s with the 20 day moving average, and 1100 as a ceiling; a good area for daytraders to play in, but not our thing. What I am seeing is a lot of earnings reports being sold off since the market already anticipated quite a large amount of positive surprises. So a new catalyst (further destruction of the US dollar?) is needed.

I'll look to pick some spots to increase positions in a few names if the tide brings them in further... otherwise a holding pattern.

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Friday, October 16, 2009

Bookkeeping Accounting Services – Save up to 60% on Cost!!

Hitech Bookkeeping Services offer accurate outsource accounting and bookkeeping services. Save up to 60% on your cost by outsourcing your bookkeeping and accounting work to us.

Hi-Tech Bookkeeping Services is one of the well-known bookkeeping and accounting services companies in bookkeeping and accounting fields. We offer you the flexibility to outsource
some individual function or to outsource the entire internal accounting and bookkeeping task. Save up to 60% on your cost by outsourcing your bookkeeping and accounting work to us.

Bookkeeping is very useful and beneficial to the any type of business whether it is small or large corporate house. We are handling small business bookkeeping services that facilitate the smooth and successful functioning of your business. Our highly trained bookkeepers and accountants are always ready to help you record and follow past procedures and help you to make a business plan.

We can help you by providing best quality bookkeeping & accounting services like:

• Bank Reconciliation
• Trial Balance sheet preparation
• Financial Statement preparation
• General Ledger Maintenance
• Account Receivable
• Account Payable
• Payroll processing

Whenever you are in need of personal financial statement, business financial statement, audited and consolidated financial statement preparation and analysis, we are here to help you. Hi-Tech Bookkeeping Services have a team of professional bookkeepers and accountants experienced with almost all the popular and widely used bookkeeping software.

Here are some benefits why bookkeeping with Hi-Tech Bookkeeping services:

• Outsourcing is cost effective
• Outsourcing reduces your year-end work and fees
• Exceptional customer experience and processes to global businesses
• Provide accurate and timely bookkeeping, accounting and financial services
• Help organizations to concentrate their core functions

You can outsource your bookkeeping services or small business accounting
requirements to us and focus on core business activities. We have experienced bookkeepers and accounting professionals with the requisite CAC (Chartered Accounting Certifications) to work closely with you.

Thus Hitech Bookkeeping services support bookkeeping accounting services to small, mid-sized and fast growing business and save 60% on bookkeeping and accounting services cost.

If you require more information about our bookkeeping & accounting services, log on to or drop email at

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Friday, October 9, 2009

Good Reasons to Have Both: A Bookkeeper and A Tax Pro

It's tempting for small-business owners to want to handle their own bookkeeping and tax preparation. After all, there is a lot of excellent accounting software out there to help them.

And many business startups begin with a few partners who do everything, hiring outside contractors only when absolutely necessary.

But just because you can do something doesn't mean you should. There are indirect costs involved with everything that falls into the do-it-yourself category. These include the
time you spend doing it.

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Thursday, October 8, 2009

Outsourcing Bookkeeping Makes Perfect Business Sense

Bookkeeping is a time consuming and tedious but essential task for businesses. Moreover, it can be quite expensive as it entails accountants’ salaries – very likely substantial – and benefits over and above the cost of training them. Though hiring a proper staff for bookkeeping may fit the budget of many small business ventures, often, after the expense on training accountants in bookkeeping, in due course, companies find that they can not afford to hire these accountants permanently.

To conserve the budget for in-house bookkeeping, a company may opt for outsourcing bookkeeping work - a portion of it or its entirety. Savings on the cost of training and retaining an in-house bookkeeping staff translates into lower capital expenditure. Additionally, shifting some of your workload to others saves you time and allows you to perform efficiently in other areas of your business. Therefore, outsourcing bookkeeping saves time and money. Time and money saved can be utilized for strengthening core sectors of the business and expansion, both of which increase profit.

Yet another benefit of outsourcing bookkeeping is enhanced efficiency. Usually, because of the multitasking nature of work in businesses, a person or a company is unable to give its best just when it is needed most. In this instance, it makes perfect business sense to outsource bookkeeping work to accounting firms. The professionals at outsourcing bookkeeping firms lay great emphasis on expertise and proficiency. Because professionals at specialized outsourcing bookkeeping firms have the advantage of being able to concentrate on maintaining your accounts, they do the work in much less time than in-house accountants. Plus, they can take each and every step of bookkeeping very carefully thus producing meticulous work.

Many outsourcing bookkeeping firms have specialized software for managing accounting transactions. This spares your company the time and expense required by acquiring and maintaining software, as well as training accountants in software manipulation.

Bookkeeping outsourcing online is especially beneficial to small and medium business firms. Online accounting services generate additional savings in time and manpower - time and manpower that would otherwise be spent on visits to the offices of professional bookkeeping firms. Again, the time and energy thus saved can be redirected towards other sectors of the business or towards expansion.

Bookkeeping outsourcing online also generates additional savings on computer maintenance cost, training cost, fixed costs and overheads. Indian Online bookkeeping outsourcing companies are especially noteworthy for the nominal rates they charge for providing efficient services.

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Outsourcing bookkeeping improves financial operations as well as increased the level of efficiency, adaptability and ability to wok with the market conditions while at the same time curtailing risks and costs. There are many bookkeeping outsourcing firms that cater to small and medium businesses worldwide.


Friday, October 2, 2009

Accountant Marketing: Let Your Accounting Services be Visible

Professional accountants are in great demand today. If you are a qualified accountant or tax professional and do not have enough customers, there might be something wrong. You might not be using the right kind of accountant marketing.

Today, people use the internet to find everything they need, from pizzas to plane tickets. There is no reason why they wouldn’t use the internet to find tax or accounting professionals to fit their needs. This gives you a quick idea as to where to start accountant marketing – the internet.

Industry specific directories are the first place where people look to find the business they are looking for. You too have used online directories of various kinds to find everything from a local florist to hotel rooms in Europe, while you still were in the United States. Accountants can benefit from their presence in directories that list accountants and accounting services. Thus, the first step in accountant marketing on the internet is getting listed in a respected industry directory.

If your business is listed in a reputed directory, it is easy for potential customers to reach you. Being listed on reputable websites also may show that you have high levels of credibility.

Other means of accountant marketing online can include pay-per-click advertising through major search engines and by buying advertisement spots from various websites. Both of these options are a tough task for a professional, whose main knowledge is of accounting, tax planning, and bookkeeping. Other options you have include advertising in industry magazines or in the classified sections of newspapers. Without a doubt, you know these are costly affairs.

However, when you list your services on an industry leading online directory, you get all of the benefits of advertising, at much a lower price and with little headaches. The directories do the work to reach the maximum number of potential customers through all the different means of advertising.

Not every directory is made the same and it is not wise to spend time and money on directories that have an unprofessional or less than perfect user interface. The best thing you can do for accountant marketing is to find a directory that is listed with search engines, has a good user interface, and is free for the users. The directory also must have an easy interface to help users easily locate the CPA, Enrolled Agent, Bookkeeper, Tax Planner, or any professional of their choice.

Overlooking this one aspect of your career can be costly, in terms of lost opportunity. In fact, accountant marketing is not a one-time expenditure. It is an ongoing process, to keep new clients and to retain existing clients. Your marketing efforts can also increase your exposure. Make sure you choose the right channels for accountant marketing and make sure you have a high ROI.


Accountant Marketing - Accountant marketing can easily be one of the first overlooked areas in the career of an accountant.
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