What is outsourcing and how to benefit from it?

 It can be said that outsourcing is the strategic use of external resources to complete the tasks that are traditionally performed by the staff of a company. In simple terms, to define what outsourcing is, it should be noted that, since not all work can be carried out internally, outsourcing makes it possible to delegate specific parts of a project or a service offer to third parties, service providers. Efficient services, who are experts in that particular field.

 What is outsourcing?

 To break it down even further, we could say that outsourcing is the process by which a company seeks the support of an external firm to carry out specific tasks, so that they can remain focused on the core / most important aspects of their business.

  It is easier to understand what outsourcing is with examples. Thus, in the case of a software development company, the main strength of the business lies in the design and creation of innovative applications, but there are other important parts of the company, such as payroll processing, IT infrastructure or the Customer Service.

  Dedicating oneself to these activities, which are not part of the core of the business offer, implies taking time away from development and, therefore, those who know what outsourcing is and what benefits it has do not hesitate to turn to third parties. Outsourcing & Payroll provides the opportunity to obtain the services that are needed, at a lower cost and with the expert guarantee of offering the best results.

 What types of outsourcing exist?

 When talking about what outsourcing is, it is inevitable to mention the different types of outsourcing that exist. They are three:

 ·         Business Process Outsourcing, which involves a third party taking care of certain operational functions, for example, customer services, payroll, accounting, or inventory.

·         Outsourcing of knowledge processes, an option that requires more advanced technical skills, since this is required for the services that can be outsourced in this category, such as legal, content writing, research and data analysis, among others.

·         Information Technology Outsourcing, including specifically technology-based functions such as software and application development, network administration, and web development.

 What are the benefits of outsourcing?

 If there were no outsourcing, the cost in time and money of completing any process would be incredible. Let's start by assessing what it would take to write a report. We are not just talking about data and its analysis, we also need graphics creation applications, word processors and, of course, a computer. Although it is an extreme example, it is clear that starting from scratch is hard in most situations and that outsourcing saves a lot of money.

  In addition, those who understand what outsourcing is, are also aware of some additional advantages, such as:

 ·         Boost to efficiency. Outsourcing provides the opportunity for businesses to take advantage of the many years of experience and know-how of the contracted company.

·         Possibility of putting all the attention in the central areas of the business. Outsourcing specific tasks to third-party professionals frees up time and energy that can be channeled towards branding or used to invest in research and development, while ensuring that you can offer customers better value and services.

·         Access to qualified resources. Thanks to understanding what outsourcing is, it is no longer necessary to train and train staff in new tasks.

·         Opportunity to offer a more agile and improved service. Outsourcing makes it easy to turn ideas into products in the shortest time possible.

 Outsourcing is present and future at a time when companies are becoming more flexible and beginning to develop horizontally. Do you already know what outsourcing is? Ready to put its advantages at the service of your business project?

Read also: Auditors in Dubai

 The audit is one of the best known financial resources. Although it does not always have the same objectives, since these vary in each case, in a generic way it can be defined as an examination of the accounts and assets of a company, as well as the result of internal operations.

 What is an audit: definition?

 An audit examines and evaluates the operation of a company from one or more perspectives. You can focus on your finances, your accounts, quality or job security. It can be oriented towards a specific goal, such as sustainability; or limited to ensuring that the organization aligns with the enforceable regulatory requirements.

 Audits look at things like financial statements, ledgers, processes and procedures, workspaces, or products to be marketed. Many companies have routine audits once a year, while others only does them on time, for specific reasons.

 What is clear is that, in addition to being great allies of compliance, audits can help to detect problems within the business and, in the long term, help to direct the company and boost its results.

 Who can do an audit?

 An audit must be carried out by a person in charge or a group of people specialized in this matter, that is, who have a corresponding qualification and demonstrable experience, in addition to having independent criteria.

 Objective pursued by the audit

 Every audit has the objective of preparing a document in which the results of the process are collected and that, at the same time, serves as a reference for third-party agents, whether they are members of the company itself or of an official body or institution that has requested the start of the Auditors in Dubai.

 Audit characteristics

 There are six auditing principles, on which auditing is based, in accordance with the ISO standards:

 ·         Integrity: any audit must be based on professionalism.

·         Fair presentation: Each audit has a responsibility to report its findings not only accurately but also truthfully.

·         Due Professional Care: Each audit should be conducted in such a way that good judgment and due diligence are applied to the process.

·         Confidentiality - Much of the information that is collected and shared during an audit is confidential in nature. Your safety must, therefore, be properly ensured.

·         Independence: the audit, whether carried out by an internal or external auditor, must be impartial and the conclusions must be objective, without being influenced by any member of the organization's management.

·         Evidence-based approach: The audit conclusions must be reached in a rational manner and must not only be reliable but also reproducible. The only way this is possible is for the audit process to be systematic and evidence-based.

 Main types of audit. Which one suits me best?

 Auditing as a legal resource has evolved in recent decades, giving rise to various specialties. At present, 5 main types of audits are known that differ basically by the objectives and the agents that carry them out.

 What kinds of auditing are best for the business?

 Let's see what each of them consists of:

 1. External or legal audit:

 This is an examination of the accounts that is carried out by legal request. The idea of ​​the procedure is to verify that the financial status and operations of a company agree with the official records. In these cases, the auditor is an independent person who has nothing to do with the company.

 2. Internal audit:

 In this case, it is an evaluation process carried out by the members of the company itself. The objective is almost always to review the processes that take place in it and from there to propose solutions. This audit is voluntary or at most requested by management.

 3. Operational audit:

 Its central objective is to increase the performance of a company. Although it can be performed by both an external agent and an internal agent, what is sought is to review the procedures that are part of the day-to-day life and improve the level of productivity. In other words, it goes beyond the review of financial statements. A good example of this type of audit is the one carried out to determine whether a company meets minimum quality standards.

 Read also: ERP Accounting Software solutions in Dubai

 4. Public or government audit:

 It is the one that is carried out directly at the request of a government entity. Its objective is to review the financial statements of companies and identify any type of irregularity, such as tax evasion, unjustified financing or non-compliance with labor laws. In United Arab Emirates, this task falls to the Court of Accounts.

 5. Computer audit:

 Almost all companies depend on computer systems. Therefore, it is necessary to carry out an evaluation from time to time and, if the case requires it, update and adapt them to the requirements of the context. The two main types of computer audits are those carried out in computer systems (ICS) and those of electronic data processes (PED).

 Other kinds of audit

 It is worth underlining that in recent times, types of audits specific to the context in which we live have emerged , such as environmental auditing, ethical auditing and economic-social auditing, among others.