Offshore Audit Services or Outsourcing of services has been a long established practice particularly in the realm of IT, accounting, and remote customer services. Outsourcing of audit services, generally referred to as “offshoring”. It is a relatively new phenomenon with the Big Four accounting firms heavily invested in it.
The outbreak of the Covid 19 pandemic changed the traditional mindset that audit can only performed on site. This shift in thinking coupled with the subsequent skills shortage. It compelled many businesses to look for talent globally to supplement their onshore workforce. A very common approach to addressing this problem has been in the form of offshore service centres or delivery centres.
Offshore Audit Services centres provide a myriad of benefits to businesses looking to grow and maintain a competitive edge. Cost savings are the primary advantage with some offshore destinations offering up to 70% savings compared to prevailing local rates. In addition, they also allow companies to gain access to talent on a global scale. This not only eases the pressure on the existing workforce, but also enables businesses to enhance and supplement their skillset.
Overseas Talent Acquisition
With the rise in the number of companies offering access to offshore talent, it is becoming increasingly difficult for businesses to choose the right company for partnership. At Potencia Global, we distinguish ourselves through quality. Our recruitment process honed to attract the very best which translates into superior quality for our partners. We can do this because of our in-depth understanding and firsthand experience in the field of audit and assurance ranging from the Big 4 to mid-tier and smaller firms.
Moreover, to ensure we attract the best talent, we have structured a compensation scheme for our consultants which continuously rewards excellence. We are also committed to paying our workforce well above the market rates to ensure continuity and motivation.
We have observed the mature offshore destinations, such as India, South Africa, and the Philippines, have become almost saturated. This has given rise to increase in pay and greater competition for attracting and retaining talent. Therefore, It greatly reducing the value proposition of offshoring. Recognising this shift, our strategy is based on sourcing workforce from countries with untapped talent.
Offshore Service Centre
Both our service propositions, i.e., offshore service centres and temporary recruitment, structured in a way to afford maximum value to our partners and minimise their risk. Therefore, we do not lock our partners in long-term contracts or charge them for set up or overhead costs. Our philosophy is to bring all the benefits of offshoring without the additional costs required to go solo. Through this model we hope to create a level playing field where not only the largest companies, e.g., the Big 4, have access to global talent, but smaller firms can also exploit the benefits of affordable workforce.
To find out more about our prices or obtain a fee quote request a booking
