Looking into outsourcing administrative services or engaging professionals in the Philippines to help support your core business functions? Here’s what you need to know…
The fate of the professional services industry depends very much on the fortunes of others. We’re currently in the longest-running bull market in history, but no-one knows how long it will last. Combined with political upheaval and uncertainty around global trade, the professional services industry is exercising caution1 when it comes to growth.
And in an era of rapid technological change, the nature of the industry is also undergoing significant transformation.2 Clients have greater access to information than ever before, an urgent need to facilitate their own migration into the digital era, and a growing number of service providers promising the advice they’re looking for. And when it comes to engaging consultants, clients are becoming increasingly interested in paying for specific outcomes,3 rather than by the hour.
Those providers who do well will be the ones who deliver sought-after expertise in niche areas and focus on building relationships with clients, adding value to their business over the longer term, rather than cultivating an association that ends with the completion of a specific project.
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As always, the strength of your PSF (professional services firm) lies with your talent pool. That’s your most valuable asset, providing the expertise that clients are willing to pay for.
But in a tight labor market, you must be able to compete for the top people, with skills in emerging areas increasingly in demand. You need the resources to offer the kind of remuneration and conditions that will help you both recruit and retain them.
That means investing the largest part of your resources where you will see the greatest return on that investment. Other essential parts of your business that support your core revenue creation must be undertaken as efficiently and cost-effectively as possible.
Outsourcing services to the Philippines enables you to do just that, allowing you to outsource those tasks to experts who can perform them efficiently and at a significantly reduced cost to you compared to undertaking them using your own staff or outsourcing at home.
Why is the professional services industry suited to offshoring?
Fortunately for professional services businesses, it’s an industry that’s particularly well suited to offshoring, because:
- Your professional services consultants already work independently, communicating and collaborating from various locations. For most, it’s the preferred work arrangement. So employing a team offshore will have negligible impact on your local team.
- Most of the actual work in the professional services industry is performed using cloud-based software or edge computing, so the team’s physical location is irrelevant.
- A lot of the work can be done at any time – not just in business hours (although a good provider will give you access to people who can work your hours if you want).
Outsourcing your administrative services and other professional roles just makes good business sense.
Frequently offshored professional services roles
Some of the more frequently outsourced professional services roles include:
Professional services roles are those that require special training and certification/ licensure to be able to practice the profession. Such roles that are commonly outsourced in the Philippines are:
- Broker/ Investment Solicitor
- IT Consultants.
Sample professional services employee profiles
At MicroSourcing, we have more than 8,300 professional services specialists in our candidate database, and access to an additional 11,000+ outsourcing administrative service providers across the Philippines. Here are a few examples of real candidate profiles:
- End to end accounting and bookkeeping
- Financial analysis, tax consultancy and compliance
- Payroll processing and internal auditing
- Monitor creditor and debtor accounts
- Calculate and investigate the cost of wages, materials, overheads and other operating costs
- CPA Consultant
- Internal Auditor
- Accounting Clerk
- Advanced SAP and Xero knowledge
- Advanced end to end bookkeeping skills
- Knowledge on taxation in the Philippines and Australia
- Research economic conditions along with company fundamentals to make business, sector and industry recommendations
- Intermediate Accountant
- Finance Analyst
MicroSourcing clients by industry
MicroSourcing has built a close affinity with the professional services industry. In fact, we work with a large number of companies operating in the sector that are currently enjoying and mastering the benefits of outsourcing administrative services and more. With over 100 professional services staff currently working for clients in Australia, the Americas and across Europe, we have significant experience in this industry.
Interested in recruiting team(s) in the Philippines?
Since our inception in 2006, MicroSourcing has become one of the biggest providers of offshoring solutions in the Philippines. We can help you build a dedicated team in the Philippines, regardless of the roles and level of specialization you require. MicroSourcing is 100% owned by the Probe CX, one of Australia’s fastest growing offshoring solution and customer engagement firms. So, it’s safe to say we’re experts in outsourcing to the Philippines.
Call +1 888-731-0023 today or send us an email to discuss your company’s offshoring needs.
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