The main logic of Bulgarian companies using their own accountants only is based on the believe that this saves expenses. Well, this opinion was confronted by conclusion made in the report of one of the firms, included in the Big Four of accounting services around the world – Deloitte. It turns out that using shared services center (SSC) saves more money to the company than relying exclusively on their own stuff. Outsourcing tax activities is actually one way to reduce costs and increase the efficiency. If we take a look at the situation around Europe, more than 50 percent export this type of work to SSC. And the share of entities that rely on outside professionals is growing every year.
So Bulgarian companies have to open the doors – holding all the information in the house doesn't make it stronger or safer. There are numerous advantages to outsource accounting activities to outside company. The expenses are significantly lower for subscription services if there is comparison to the numbers in the book if you pay wages and benefits to own accounting staff. It's not only salaries – the company saves from using its own office, inventory, logistics, rentals, consumables, energy and others like buying licensed software only for companies sake, while SSC and similar entities have it, use it and update it regularly anyway. Outside accountants offers complex service including different areas as bookkeeping, social and health security, objective look at the balance in revenue and expense. And last, but not least – outsourcing accountant service to other company makes sure your own company have bigger chances to be good, healthy and clean, when it has to go through institutional oditing. So it is actually better to invite someone in the house to see if there is anything to be fixed and who knows what to look for.