#02 - What is the best Offshoring model for you?
And Real-life Ways Accountants are Using AI
🌍 The Global Edge
Hire Directly or Use a Partner Firm - What is the best Offshoring model for you?
“When we’ve had to bring on additional projects, Finsmart assigned additional staff to help us during that process,” said Elizabeth Bergen, an accounting firm owner and a user of Finsmart’s embedded offshoring model.
While many clients prefer to hire their team of offshore professionals, others just want to ensure the work gets done while they focus on growth. Such firm owners leave the rest to the partner firm. One of the interesting benefits of the Embedded offshoring model is that you get ready-to-deploy resources - you do not end up spending time looking for the “perfect” candidate or in training.
When your offshore team is all set within a week, you are ready to leap into advisory, strategy, and more.
In the 2024 State of Tax Professional Report, 45% of mid-size firms said that their firms are currently offering business consulting, and 23% more are considering it. More than half of the small firms, or 52% of respondents, said that their firms either already provide the services or are considering it.
Before deciding on whether you need to hire directly or use a partner firm, consider some of the common factors like budget and cost effectiveness, time investment and scalability, risk and compliance concerns, and quality control and training.
Read this article from Finsmart Accounting to know more about what’s best for you.
📚 What We’re Reading
Real-life Ways Accountants are Using AI
AI is the talk of the town! Like almost every other industry, even the accounting industry has been overwhelmed by the use of AI. While AI has become important to keep up with the competition and to stay relevant, accountants sometimes are not quite sure of where to integrate AI into their daily lives. Some of the common real-life uses of AI include:
Snap Mail Automation
Technical accounting memos
Marketing the business
Data analysis with AI-assisted code
Brainstorming and research
Audit automation and assistance
To know, in detail, about how AI is helping accountants transform the way they look at their business, read this piece in the Journal of Accountancy that caught our attention.
READ THE FULL ARTICLE
🔦 Finsmart Spotlight
One of the most common reasons that accounting firms hire offshore partners is to save costs. Although that is not the only reason, it is a major one. While you can save costs with offshoring, how much does it cost to hire an offshore partner?
Before you get into the actual costing, it is important to understand what the factors are that guide the pricing of the outsourcing services. Understanding what the different pricing options are and how they impact your business can go a long way in ensuring that you know what you are signing up for, the costs that are included, and so on.
Our latest article delves deep into the cost of outsourcing different finance and accounting services to help accounting firms negotiate better rates and plan their resources efficiently.
💰 Free Growth Resource
Operational efficiency survives on a steady workflow. Bookkeeping and accounting standard workflow templates offer a structured approach to manage a plethora of tasks and processes. They act as the foundation for routine operations, ensuring every task is executed with precision and uniformity, regardless of who’s in your team.
Need a workflow template?
DOWNLOAD THE FREE WORKFLOW TEMPLATE TODAY
🧑💼 Meet Your Future Team
At Finsmart Accounting, our teams work directly with the accounting firms (clients) from Day 1. We hire experienced professionals who are fully capable of tackling crises and are always prepared to put their best foot forward to solve their clients’ problems.
In this second issue of The Outsource Insider, we present to you Sharvari Gandhi, US Tax VP.
A seasoned tax and accounting expert with 17 years of experience in US taxation and compliance.
She is a CPA and MS in Accounting, and brings extensive expertise in corporate and individual tax preparation, sales and payroll tax, state and local compliance, company formations, 501(c)(3) compliance, and 401(k) audits.
She has proficiency in ProConnect, ProSeries, Lacerte, UltraTax, QBD, QBO, Xero, Oracle NetSuite, Sage Intacct, and FP&A tools like Workday Adaptive and Planner CS
Sharvari also has hands-on experience with Avalara, Bill.com, Concur, Expensify, and Salesforce, ensuring seamless tax planning and compliance management for clients.
As the VP, she plays a pivotal role in guiding businesses through intricate tax landscapes while optimizing compliance and financial strategies.
Under her leadership, you can expect strategic tax planning, proactive compliance support, and expert guidance tailored to your business needs.
“The nice thing about teamwork is that you always have someone on your side,” Margaret Carty.
😄 Funsmart Corner
Now this issue cannot truly come to an end unless we pour just a little dose of fun in your inbox.
📅 What’s Coming Up
Finsmart Accounting will be attending upcoming accounting conferences to discuss accounting, offshoring, and more. We hope to see you there!
AICPA Engage
Date: 9-12 June
Location: Las Vegas
Event Highlights:
- We are a Classic Sponsor of the 3rd Annual AICPA Foundation Golf
- Meet Maanoj Shah, Co-Founder and Director of Finsmart Accounting, and an offshoring expert, and Sharvari Gandhi, US Tax VP, at the event
- Engage in conversations about accounting, offshoring, and more.
Scaling New Heights
Date: 22-25 June
Location: Orlando
Event Highlights:
- Meet our team at Booth No. 75
- Join Maanoj Shah and Veronica Wasek at the main stage session on 24th June June 24, 2025, from 9-10:40 am ET on “From ‘Did We’ to ‘We Did It’, Making Offshoring a Scalable Reality”
- Check your offshore readiness in a workshop with Maanoj Shah, Rebecca Brocard Santiago, and Jane Watkins on June 25, 2025, at 8 am ET