Outsourcing? What Does It Mean And How Can I Can Do Outsourcing For American Comapanies Sitting Overseas?
Posted by China Sourcing CommentatorSep 18
One of my friend told me lot of american comapneis are trying to outsouces their payroll, accounting, taxation etc department. Is it true? if so how can i be benefitted being an american working overseas?
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Yes, it is true that many small businesses will do outsourcing.
Outsourcing is when you use the services of another business to fill in for what you don’t have. For example, if you’re small businesss and you don’t have an Accounting Department, you hire someone or an Accounting Firm to take care of that for you.
It saves you the time of having to create your own Accounting Department withing your own company if you lack the financial resources and have a small staff.
It’s one of the things they teach you in Business Administration. It’s actually more practical for smaller businesses to outsource so that they don’t have to worry about a particular department.
As your friend said, payroll and accounting is the most common department that is outsourced. Technically, the family household is like a “Family Corporation.” When the husband and wife go to a Tax Accountant, they’re outsourcing.
Taking care of their taxes on their own is a drain on “Family Human Resources” because it means that either spouse or both have to devote time to preparing their own taxes. If they don’t have time to do that and the opportunity costs are too high, that’s outsourcing.
For small businesses low on man power, it means that you or whomever is workign with you has to pick up the slack. If you or your employees are wearing too many hats when it comes to responsibility, it can impede work efficiency.
For things you don’t know, it means you have to learn the craft, which could take time. If that’s the case, the opportunity costs may be too high. So it is just more practical to outsource to a professional that specializes in whatever you need and already has an established business.
If you’re an American overseas and you have a business, you can do outsourcing by shifting responsibilities in your department over to other businesses in the United States or wherever that can handle certain tasks for you.
As long as you have a method of payment in whatever currency they desire or the businesses you employ are offering goods and services that are donated in exchange for something else of value that isn’t monetary, that’s how you can capitalize on outsourcing.
What exactly your product or service is may influence just what can outsource.
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