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Do Not Let Outsourcing Overcome You!

Regarding outsourcing; finance and accounting professionals can either see it as a threat to their occupation and/or as an opportunity to develop their skills and knowledge. The latter will most likely survive not only to stay in their current positions, but take on greater responsibilities in more exciting functions within their companies.

There are several things that the accounting professional should do in order to survive in this increasingly competitive environment. United States centers must understand that they are not only competing with centers at other companies nationally, but also with centers abroad. Levels for performance must also include information from similar offshore centers. Accountants in the United States must do better than offshore workers in order to justify the wage differences. In order to accomplish this, professionals must continue their education and get used to taking on more responsibility so that their skills and knowledge are not limited to basic finance and accounting functions.

Accountants become more competitive when they obtain valuable skills in areas of a firm not directly related to the accounting function. An advantage of being an accountant is that every department within a company is better off with employers that possess an exhaustive knowledge of finance and accounting functions and theory. An employee may be able to offer more in the marketing department or in operations than he/she could in the accounting department.

By taking on leadership responsibility, networking, continuing to learn about multiple business processes outside of finances and accounting (including marketing, sales, management, and human resources) and continuing to prove themselves to be worth more to their company by constantly bringing fresh and creative ideas to the table, accountants can guarantee that their positions will stay close to the corporate office.

Accountants need to gain a range of skills that are not likely to be outsourced. This might include attempting to attain a J.D. in addition to a CPA and an undergraduate degree in finances or accounting, sitting for the CFA, CFP, and Series 7 examinations, or developing more advanced writing or computer skills to be more familiarized with business technology.

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