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Nearshoring in trustee relations - added value and freed time

Nearshoring in trustee relations - added value and freed time


Adding value in Swiss Accounting

Accounting and trusts have a longstanding history and high significance on the Swiss market place. The accountant consults his clients in all relevant financial and legal matters and is one of the most well-known and regarded education in Switzerland. However the picture is often less efficient. Frequently the accountant is deemed responsible to spend large amounts of time on repetitive tasks such as simple accounting for his clients. Namely the manual entering of invoices into an accounting system (such as Abacus or Sage) is a tedious process that does not add significant value to the client.

Together with our clients we have developed a Nearshoring Model over the course of the past year which allows to externalise repetitive tasks such as aforementioned invoice entry. This allows our partners to reset their focus towards value creating tasks for their clients, namely consulting them. Their clients value the closer collaboration with their accountant who – thanks to outsourcing – is able to dedicate more time towards counseling. The accounting relationship thus stays local and is intensified for a more stable collaboration and trust, which adds value to both sides.

How does nearshoring work in accounting services?

With our Nearshoring Setup core competencies and value generation for clients remains in Switzerland. We identify processes collaboratively with accountants to identify repetitive tasks which do not generate much value for the final customer but take a big chunk of time out of the accountants work day. From our experience these are mainly, but not limited to:

- Manual accounting (entry of receipts into accounting software such as Sage or Abacus) - Simple yearly statements
- Simple VAT accounting
- Simple tax reports for individuals

The outsourcing of such activities to a Nearshoring Partner yields multiple advantages, especially with high volumes:

- The accountant can focus on the core business
- Generation of more free time for accountant
- Higher cost efficiency and sustainable margins through a lower cost structure on time intense tasks

Prerequisites for sustainable Nearshoring

For Nearshoring to work in the accounting business, processes should be strongly structured with clear responsibilities. As an example, we can look at the process of manual accounting (entry of receipts into accounting software such as Sage or Abacus). To efficiently perform such manual tasks, some requirements must be met:

- Initial effort for training and introduction to specific procedures related to end customer - Initial time effort for training in special software (if existing)
- Direct person of contact for the external team
- Cloud based accounting software or VPM Solution for secure access of remote team

- Clearly readable digital representation of receipts (Scan / PDF)\

If these conditions are met, a Nearshoring partnership is possible and could potentially increase efficiency and create value for clients and end customers.

We gladly answer your questions related to Business Process Nearshoring and are looking forward to a fruitful exchange. 

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