What are the types of internal audits?

Internal audits can include operational audits, compliance audits, financial audits, forensic audits, IT audits, and environmental audits.

What are the key standards in internal audits?

The key standards include independence, objectivity, proficiency, quality assurance, and communication.

What is the risk-based approach in internal audits?

The risk-based approach prioritizes auditing high-risk areas within an organization to focus resources where they are needed most.

What are the 5 C's of internal audit?

The 5 C's are Control, Compliance, Cost, Consistency, and Communication, which are critical for a successful audit process.

How does an internal audit help in risk management?

Internal audits help identify and mitigate risks by ensuring that internal controls are effective and that the company complies with laws and regulations.

5 Must-Know Benefits of Outsourced Accounting Services for Growing Businesses

Published on May 18, 2025

In today’s fast-moving and competitive business world, companies—especially the startups and growing small and medium enterprises (SMEs)—are constantly looking for smarter ways to reduce overhead costs, access expert knowledge and scale efficiently.

One solution that continues to gain traction and is effective in outsourced accounting services. But what is outsourced accounting services? And why are so many companies choosing to shift their financial operations offshore—particularly to India?

At Felix Advisory, we provide reliable, efficient and fully compliant accounting and assurance services, helping businesses like yours to focus on what matters most: growth.

What Is Outsourced Accounting Services?

Outsourced accounting means delegating your accounting and bookkeeping tasks to an external firm, usually a specialized and expert service provider located domestically or abroad. These firms manage tasks like

Bookkeeping
Financial reporting
Payroll processing
Accounts receivable and payable
Tax preparation and filing
Assurance and Audit Services

In short, outsourcing accounting work gives businesses access to skilled professionals and modern tools—without the burden of hiring and maintaining a full-time, in-house team.

Why Outsource Accounting Services to India?

India has become a global hub for outsourced services due to a perfect blend of:

Cost-effectiveness
Talented pool of qualified experts
English proficiency
Strong IT infrastructure
Time zone advantages

According to Deloitte, 90% of Fortune 500 companies have chosen India as their outsourced financial partner.

“According to the latest report, over 140,000 professionals work for Big Four accounting firms—Deloitte, EY, KPMG, and PwC in their Indian Global Capability Centres.”

Key Benefits of Outsourced Accounting Services

Here are 5 powerful reasons to consider outsourcing your accounting functions:

Cost Savings

Hiring a full-time accountant or finance team comes with high salary expectations, benefits, infrastructure, and training costs. On the contrary, the outsourced accounting services pricing is significantly lower especially when you outsource to India.

Cost Component	In-House Team (USD/month)	Outsourced to India (USD/month)
Accountant Salary	$3,500	$800 – $1,200
Software & Tools	$300	Included
Office Infrastructure	$500	None
Total Monthly Expense	$4,300	$1,000 – $1,500

Access to Expertise

Leading outsourcing accounting companies in India employ qualified CAs and accountants with deep knowledge of international GAAP, IFRS, and compliance requirements across regions. You benefit from real-time support and accurate reporting. Partner with the professional outsourced accounting service provider, like Felix Advisory, are experts on Indian Accounting Standards, US GAAP and International Financial Reporting Standards (IFRS).

Focus on Core Business Activities

Outsourcing frees your time and resources, enabling you to focus on customer experience, product development and scaling operations—while experts handle your books in the background.

Scalability and Flexibility

Outsourced accounting work can easily scale with your business. Whether you need basic bookkeeping or full-fledged controller services, you can increase or reduce services as per your need or requirements.

Enhanced Compliance and Security

Trusted partners like Felix Advisory follow stringent compliance standards, GDPR regulations, and data encryption protocols. Your financial information is secure and your filings are always on time.

Outsourced Accounting Services for Small Businesses

For startups and SMEs, the benefits of outsourced accounting services for small businesses are even more pronounced:

No need to hire expensive internal staff
Monthly bookkeeping and reporting support
Timely GST and tax filings
Budget-friendly packages
No software purchase required

Whether you’re a SaaS company, manufacturing firm or retail brand, Felix Advisory tailors its services to suit your sector’s financial workflows.

Top Qualities In Best Outsourced Accounting Services Providers

Choosing the right provider is key. Look for:

Experience with your industry/geography clients
Transparent pricing
Cloud-based tools (e.g., QuickBooks, Zoho, Xero)
Client testimonials and references

At Felix Advisory, our clients trust us for end-to-end financial management—from bookkeeping to audits. Explore our Accounting and Assurance Advisory Services to see how we can help your business.

How Does Accounting Outsourcing Work?

Here’s how a typical outsourced process works:

Initial Consultation: Define scope, deliverables, and frequency.
Onboarding: Provide access to previous financials, accounting software, and business information.
Execution: The provider performs tasks like data entry, reporting, and filing.
Review & Communication: Regular updates and performance reviews.
Compliance Support: Ensures tax and statutory compliance.

FAQs

What are outsourced accounting services?
It refers to hiring a third-party firm to manage your accounting functions.
Why outsource accounting services?
To save costs, access expertise, and focus on your core business.
Can startups and small businesses use outsourced services?
Absolutely. In fact, it’s one of the best options for businesses looking to scale efficiently.
How much does outsourced accounting cost?
Pricing varies, but outsourcing to India typically starts at $500–$1,500/month depending on the scope.

Final Say

At Felix Advisory, we don’t just crunch numbers—we become your financial growth partners. With deep domain knowledge, expertise, experienced chartered accountants, transparency & Risk Mitigation, we deliver accurate, timely, and actionable insights that support better decisions.

Whether you’re exploring outsourcing accounting work, want clarity on outsourced accounting services pricing or are ready to grow with expert financial support—we are here to help.

Felix Advisory is a Full service professional firm with 350 team members and 5 offices in India. We are specialized in Advisory, Tax & Accounting Services with 24 partners with more than 20 years experience, including experience with Big4 in India as well as abroad. We are currently working with MNC, Indian Businesses & Startup across industry.