Global Hola

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outsourcing for cpa firms and accountants

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Why CPAs and Accounting Firms Should Consider Outsourcing

CPAs have a lot on their minds. From accounts payable in their clients books to interacting face-to-face with clients, there’s a lot to manage. For accounting agencies and CPAs looking to do more than just survive tax season from February to April, what can they do to thrive instead of just survive. Is there anyway for CPAs to take on more clients and increase their capacity.

Yes. This is where outsourcing and hiring bookkeepers and accountants (certified CPAs) from the Philippines can offer CPAs and accounting firms a pathway to enhanced productivity and client service.

A Real-World CPA Success Story: MSV Financial Services

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Melissa, the dynamic force and CEO of MSV Financial, faced a familiar challenge: an overwhelming demand for her CFO services that stretched her business. She wanted to take on more clients and be a fractional CFO for more companies and start-ups, but she needed to build a solid team of accountants and bookkeepers at a cost-effective rate before taking on additional clients.

The solution? Melissa worked with Global Hola to hire two certified CPAs from the Philippines to manage 8 large accounts with millions of dollars in revenue. Reflecting on the experience, Melissa shared, “My accountant with Global Hola is doing great! Super supportive and responsive, and I’m very much appreciative of her help so far.” This feedback isn’t just a testament to the quality of our service at Global Hola; it’s evidence of how outsourcing can revolutionize a CPA firm’s operations.

Outsourced Accounting Services for CPAs

Comprehensive Bookkeeping Services

For many accounting firms, bookkeeping is the backbone of their services but can also be time-consuming. Outsourcing this task ensures thorough and timely record-keeping, laying a solid foundation for financial reporting and analysis.

Advanced Accounting Support

Outsourced accountants can significantly reduce turnaround times for client work, providing not only routine accounting services but also engaging in financial analysis and strategic planning, thus enriching the advisory role of CPAs.

How Much Does Outsourcing Cost for CPA Firms?

Global Hola prides itself on offering transparent and competitive pricing, ensuring that accounting firms can access the support they need within their budget constraints. We typically hire and place bookkeepers for $13/hour and accountants (certified CPAs from the Philippines) at $15/hour. This transparency allows for effective budget management, aligning outsourcing expenses with business growth objectives.

Bill Your Clients. Hire Your Expert CPA Talents. Profit the Difference.

Determining cost efficiency involves evaluating the return on investment in outsourcing services. For Melissa at MSV Financial, the decision to outsource brought not just financial benefits but also qualitative improvements in client service and operational stress reduction. According to Unison Globus, hiring a CPA hourly can cost between $100-$400 USD/hour. If CPA firms can hire solid accountants who can do 80% of the work, making their time investment and bill rate more profitable, this can be a game changer for how CPA firms provide service to their clients.

How Can CPAs Work With Outsourcing Agencies?

Outsourcing with Global Hola allows accounting firms to:

  • Access a diverse talent pool, enriching the firm’s service offerings without the need for full-time hires.

  • Scale services in response to client demand, ensuring flexibility and responsiveness.

  • Redirect focus towards high-value advisory services, enhancing client satisfaction and firm profitability.

For firms like MSV Financial, choosing Global Hola as an outsourcing partner has not only addressed immediate staffing needs but also opened new avenues for service expansion and client engagement. With a team of college-educated, experienced (7+ years working with Big-4 Firms) accountants familiar with the unique challenges faced by foreign business owners, Global Hola stands ready to support accounting firms in their quest for excellence and efficiency.

Outsourcing is more than a solution for workload management—it’s a strategic tool for growth and client satisfaction. As the accounting industry evolves, firms that leverage outsourcing effectively will find themselves ahead, with a robust support system like Global Hola to navigate the complexities of modern financial consulting.