The audit landscape is transforming presenting new challenges and opportunities. Audit firms are confronted by a negative public perception, ever changing and mounting regulations, and fierce competition for talent. Although some of the larger firms have responded to these challenges through offshoring, a significant number of medium and smaller firms do not have the means to invest in offshore centres.
The advantages of offshoring, especially in terms of cost savings, are widely known in the business world. However, for a vast majority of firms offshoring is a risky venture because of the operational and capital challenges involved in establishing it.
At Potencia Global, we offer our partner firms the full benefits of offshoring without any risks or long term commitment obligations.
Audit firms are under increasing levels of scrutiny from the regulator due to which the risks of financial penalties, reputational damage and even litigations associated with poor quality audits are higher than ever before. Potencia Global help partners improve their audit quality and thus their reputation whilst ensuring that our prices remain attractive.
Our prices are extremely competitive (see Pricing) and this enables our partners to improve their margins on existing engagements. Furthermore, our partners can pass on some of the cost savings to their clients which will undoubtedly generate goodwill and improve client retention.
Audit firms often miss out on growth opportunities because of shortage of resources at a short notice or during the busy seasons.
By having the necessary resources on standby our partners can seek out new business opportunities and achieve rapid growth.
Potencia Global partners enjoy a huge competitive advantage over their peers because of easily accessible resources at highly discounted prices.
This advantage translates into business growth through greater success in winning new clients.
Having additional resources especially during the busy seasons can make a world of difference to the level of pressure faced by audit staff. This leads to more motivated staff and a reduction in time lost to stress related staff absence. Talent retention is also a very significant challenge to organisations.
Having an offshore service centre not only grants you access to new talent at a global scale, but it also reduces the workload of your onshore teams which in turn improves retention.