Blog

Major Reasons why European ACCAs and Accounting Firms are Outsourcing to India

Companies in Western Europe are always looking to cut costs by outsourcing overseas. One of their top priorities is to generate maximum revenue by employing latest technologies by getting a 24-hour (virtual) office with skilled employees that cost only 1/3rd of any in-house team.

Traditionally many believed that European firms typically prefer to send their jobs to nearby locations for curbing the problem of not getting similar time zones. However, many reports have revealed that more than 65% of European firms intend to send their work to India.

Why European Businesses do accounting Outsourcing to India?

Some of the major risks identified by financial services organizations that are a deciding factor for European ACCAs and Accounting Firms to outsource to offshore accountants in India are:

 

  • Finding/attracting people of the right quality
  • Deteriorating quality of service in their local accountants
  • Rising wages of the local accountants
  • Cost over-runs; because small-sized companies cannot afford to pay hefty fees to the in-house team when they can get the same amount of work done for half-the-price.
  • Inadequate level of compliance and internal control
  • Impact on management time
  • Security of intellectual property;
  • Security of client data
  • Political and regulatory risks in the home market

All Comments

Leave A Comment

Blog

Read Our Latest News 

 Read our blog posts on finance and accounting, business solutions.

Whoops! There was an error.
ErrorException (E_WARNING)
file_put_contents(/home/globaljatinder/public_html/storage/framework/sessions/qd0UwFcgY0bh6i2NT2MesSSipZoXkuyLzjP0P0BI): failed to open stream: Disk quota exceeded ErrorException thrown with message "file_put_contents(/home/globaljatinder/public_html/storage/framework/sessions/qd0UwFcgY0bh6i2NT2MesSSipZoXkuyLzjP0P0BI): failed to open stream: Disk quota exceeded" Stacktrace: #7 ErrorException in /home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Filesystem/Filesystem.php:122 #6 file_put_contents in /home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Filesystem/Filesystem.php:122 #5 Illuminate\Filesystem\Filesystem:put in /home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Session/FileSessionHandler.php:83 #4 Illuminate\Session\FileSessionHandler:write in /home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Session/Store.php:129 #3 Illuminate\Session\Store:save in /home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Session/Middleware/StartSession.php:87 #2 Illuminate\Session\Middleware\StartSession:terminate in /home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Foundation/Http/Kernel.php:218 #1 Illuminate\Foundation\Http\Kernel:terminateMiddleware in /home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Foundation/Http/Kernel.php:189 #0 Illuminate\Foundation\Http\Kernel:terminate in /home/globaljatinder/public_html/index.php:61
7
ErrorException
/vendor/laravel/framework/src/Illuminate/Filesystem/Filesystem.php122
6
file_put_contents
/vendor/laravel/framework/src/Illuminate/Filesystem/Filesystem.php122
5
Illuminate\Filesystem\Filesystem put
/vendor/laravel/framework/src/Illuminate/Session/FileSessionHandler.php83
4
Illuminate\Session\FileSessionHandler write
/vendor/laravel/framework/src/Illuminate/Session/Store.php129
3
Illuminate\Session\Store save
/vendor/laravel/framework/src/Illuminate/Session/Middleware/StartSession.php87
2
Illuminate\Session\Middleware\StartSession terminate
/vendor/laravel/framework/src/Illuminate/Foundation/Http/Kernel.php218
1
Illuminate\Foundation\Http\Kernel terminateMiddleware
/vendor/laravel/framework/src/Illuminate/Foundation/Http/Kernel.php189
0
Illuminate\Foundation\Http\Kernel terminate
/index.php61
/home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Filesystem/Filesystem.php
     *
     * @param  string  $path
     * @return string
     */
    public function hash($path)
    {
        return md5_file($path);
    }
 
    /**
     * Write the contents of a file.
     *
     * @param  string  $path
     * @param  string  $contents
     * @param  bool  $lock
     * @return int
     */
    public function put($path, $contents, $lock = false)
    {
        return file_put_contents($path, $contents, $lock ? LOCK_EX : 0);
    }
 
    /**
     * Prepend to a file.
     *
     * @param  string  $path
     * @param  string  $data
     * @return int
     */
    public function prepend($path, $data)
    {
        if ($this->exists($path)) {
            return $this->put($path, $data.$this->get($path));
        }
 
        return $this->put($path, $data);
    }
 
    /**
     * Append to a file.
Arguments
  1. "file_put_contents(/home/globaljatinder/public_html/storage/framework/sessions/qd0UwFcgY0bh6i2NT2MesSSipZoXkuyLzjP0P0BI): failed to open stream: Disk quota exceeded"
    
/home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Filesystem/Filesystem.php
     *
     * @param  string  $path
     * @return string
     */
    public function hash($path)
    {
        return md5_file($path);
    }
 
    /**
     * Write the contents of a file.
     *
     * @param  string  $path
     * @param  string  $contents
     * @param  bool  $lock
     * @return int
     */
    public function put($path, $contents, $lock = false)
    {
        return file_put_contents($path, $contents, $lock ? LOCK_EX : 0);
    }
 
    /**
     * Prepend to a file.
     *
     * @param  string  $path
     * @param  string  $data
     * @return int
     */
    public function prepend($path, $data)
    {
        if ($this->exists($path)) {
            return $this->put($path, $data.$this->get($path));
        }
 
        return $this->put($path, $data);
    }
 
    /**
     * Append to a file.
Arguments
  1. "/home/globaljatinder/public_html/storage/framework/sessions/qd0UwFcgY0bh6i2NT2MesSSipZoXkuyLzjP0P0BI"
    
  2. "a:3:{s:6:"_token";s:40:"Hv2nTZiovMACls7wdSqUqCvn3qTtBC4npE03AYgj";s:9:"_previous";a:1:{s:3:"url";s:97:"http://accountingoutsourcehub.com/major-reasons-european-accas-accounting-firms-outsourcing-india";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}"
    
  3. 2
    
/home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Session/FileSessionHandler.php
    /**
     * {@inheritdoc}
     */
    public function read($sessionId)
    {
        if ($this->files->isFile($path = $this->path.'/'.$sessionId)) {
            if ($this->files->lastModified($path) >= Carbon::now()->subMinutes($this->minutes)->getTimestamp()) {
                return $this->files->sharedGet($path);
            }
        }
 
        return '';
    }
 
    /**
     * {@inheritdoc}
     */
    public function write($sessionId, $data)
    {
        $this->files->put($this->path.'/'.$sessionId, $data, true);
 
        return true;
    }
 
    /**
     * {@inheritdoc}
     */
    public function destroy($sessionId)
    {
        $this->files->delete($this->path.'/'.$sessionId);
 
        return true;
    }
 
    /**
     * {@inheritdoc}
     */
    public function gc($lifetime)
    {
        $files = Finder::create()
Arguments
  1. "/home/globaljatinder/public_html/storage/framework/sessions/qd0UwFcgY0bh6i2NT2MesSSipZoXkuyLzjP0P0BI"
    
  2. "a:3:{s:6:"_token";s:40:"Hv2nTZiovMACls7wdSqUqCvn3qTtBC4npE03AYgj";s:9:"_previous";a:1:{s:3:"url";s:97:"http://accountingoutsourcehub.com/major-reasons-european-accas-accounting-firms-outsourcing-india";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}"
    
  3. true
    
/home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Session/Store.php
     *
     * @param  string  $data
     * @return string
     */
    protected function prepareForUnserialize($data)
    {
        return $data;
    }
 
    /**
     * Save the session data to storage.
     *
     * @return bool
     */
    public function save()
    {
        $this->ageFlashData();
 
        $this->handler->write($this->getId(), $this->prepareForStorage(
            serialize($this->attributes)
        ));
 
        $this->started = false;
    }
 
    /**
     * Prepare the serialized session data for storage.
     *
     * @param  string  $data
     * @return string
     */
    protected function prepareForStorage($data)
    {
        return $data;
    }
 
    /**
     * Age the flash data for the session.
     *
     * @return void
Arguments
  1. "qd0UwFcgY0bh6i2NT2MesSSipZoXkuyLzjP0P0BI"
    
  2. "a:3:{s:6:"_token";s:40:"Hv2nTZiovMACls7wdSqUqCvn3qTtBC4npE03AYgj";s:9:"_previous";a:1:{s:3:"url";s:97:"http://accountingoutsourcehub.com/major-reasons-european-accas-accounting-firms-outsourcing-india";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}"
    
/home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Session/Middleware/StartSession.php
        if ($this->sessionConfigured()) {
            $this->storeCurrentUrl($request, $session);
 
            $this->addCookieToResponse($response, $session);
        }
 
        return $response;
    }
 
    /**
     * Perform any final actions for the request lifecycle.
     *
     * @param  \Illuminate\Http\Request  $request
     * @param  \Symfony\Component\HttpFoundation\Response  $response
     * @return void
     */
    public function terminate($request, $response)
    {
        if ($this->sessionHandled && $this->sessionConfigured() && ! $this->usingCookieSessions()) {
            $this->manager->driver()->save();
        }
    }
 
    /**
     * Start the session for the given request.
     *
     * @param  \Illuminate\Http\Request  $request
     * @return \Illuminate\Contracts\Session\Session
     */
    protected function startSession(Request $request)
    {
        return tap($this->getSession($request), function ($session) use ($request) {
            $session->setRequestOnHandler($request);
 
            $session->start();
        });
    }
 
    /**
     * Get the session implementation from the manager.
/home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Foundation/Http/Kernel.php
     * @return void
     */
    protected function terminateMiddleware($request, $response)
    {
        $middlewares = $this->app->shouldSkipMiddleware() ? [] : array_merge(
            $this->gatherRouteMiddleware($request),
            $this->middleware
        );
 
        foreach ($middlewares as $middleware) {
            if (! is_string($middleware)) {
                continue;
            }
 
            [$name] = $this->parseMiddleware($middleware);
 
            $instance = $this->app->make($name);
 
            if (method_exists($instance, 'terminate')) {
                $instance->terminate($request, $response);
            }
        }
    }
 
    /**
     * Gather the route middleware for the given request.
     *
     * @param  \Illuminate\Http\Request  $request
     * @return array
     */
    protected function gatherRouteMiddleware($request)
    {
        if ($route = $request->route()) {
            return $this->router->gatherRouteMiddleware($route);
        }
 
        return [];
    }
 
    /**
Arguments
  1. Illuminate\Http\Request {#42
      #json: null
      #convertedFiles: []
      #userResolver: Closure($guard = null) {#213 …4}
      #routeResolver: Closure() {#215 …4}
      +attributes: Symfony\Component\HttpFoundation\ParameterBag {#44}
      +request: Symfony\Component\HttpFoundation\ParameterBag {#50}
      +query: Symfony\Component\HttpFoundation\ParameterBag {#50}
      +server: Symfony\Component\HttpFoundation\ServerBag {#46}
      +files: Symfony\Component\HttpFoundation\FileBag {#47}
      +cookies: Symfony\Component\HttpFoundation\ParameterBag {#45}
      +headers: Symfony\Component\HttpFoundation\HeaderBag {#48}
      #content: null
      #languages: null
      #charsets: null
      #encodings: null
      #acceptableContentTypes: array:4 [
        0 => "text/html"
        1 => "application/xhtml+xml"
        2 => "application/xml"
        3 => "*/*"
      ]
      #pathInfo: "/major-reasons-european-accas-accounting-firms-outsourcing-india"
      #requestUri: "/major-reasons-european-accas-accounting-firms-outsourcing-india"
      #baseUrl: ""
      #basePath: null
      #method: "GET"
      #format: null
      #session: Illuminate\Session\Store {#244}
      #locale: null
      #defaultLocale: "en"
      -preferredFormat: null
      -isHostValid: true
      -isForwardedValid: true
      basePath: ""
      format: "html"
    }
    
  2. Illuminate\Http\Response {#363}
    
/home/globaljatinder/public_html/vendor/laravel/framework/src/Illuminate/Foundation/Http/Kernel.php
     */
    protected function dispatchToRouter()
    {
        return function ($request) {
            $this->app->instance('request', $request);
 
            return $this->router->dispatch($request);
        };
    }
 
    /**
     * Call the terminate method on any terminable middleware.
     *
     * @param  \Illuminate\Http\Request  $request
     * @param  \Illuminate\Http\Response  $response
     * @return void
     */
    public function terminate($request, $response)
    {
        $this->terminateMiddleware($request, $response);
 
        $this->app->terminate();
    }
 
    /**
     * Call the terminate method on any terminable middleware.
     *
     * @param  \Illuminate\Http\Request  $request
     * @param  \Illuminate\Http\Response  $response
     * @return void
     */
    protected function terminateMiddleware($request, $response)
    {
        $middlewares = $this->app->shouldSkipMiddleware() ? [] : array_merge(
            $this->gatherRouteMiddleware($request),
            $this->middleware
        );
 
        foreach ($middlewares as $middleware) {
            if (! is_string($middleware)) {
Arguments
  1. Illuminate\Http\Request {#42
      #json: null
      #convertedFiles: []
      #userResolver: Closure($guard = null) {#213 …4}
      #routeResolver: Closure() {#215 …4}
      +attributes: Symfony\Component\HttpFoundation\ParameterBag {#44}
      +request: Symfony\Component\HttpFoundation\ParameterBag {#50}
      +query: Symfony\Component\HttpFoundation\ParameterBag {#50}
      +server: Symfony\Component\HttpFoundation\ServerBag {#46}
      +files: Symfony\Component\HttpFoundation\FileBag {#47}
      +cookies: Symfony\Component\HttpFoundation\ParameterBag {#45}
      +headers: Symfony\Component\HttpFoundation\HeaderBag {#48}
      #content: null
      #languages: null
      #charsets: null
      #encodings: null
      #acceptableContentTypes: array:4 [
        0 => "text/html"
        1 => "application/xhtml+xml"
        2 => "application/xml"
        3 => "*/*"
      ]
      #pathInfo: "/major-reasons-european-accas-accounting-firms-outsourcing-india"
      #requestUri: "/major-reasons-european-accas-accounting-firms-outsourcing-india"
      #baseUrl: ""
      #basePath: null
      #method: "GET"
      #format: null
      #session: Illuminate\Session\Store {#244}
      #locale: null
      #defaultLocale: "en"
      -preferredFormat: null
      -isHostValid: true
      -isForwardedValid: true
      basePath: ""
      format: "html"
    }
    
  2. Illuminate\Http\Response {#363}
    
/home/globaljatinder/public_html/index.php
|--------------------------------------------------------------------------
| Run The Application
|--------------------------------------------------------------------------
|
| Once we have the application, we can handle the incoming request
| through the kernel, and send the associated response back to
| the client's browser allowing them to enjoy the creative
| and wonderful application we have prepared for them.
|
*/
 
$kernel = $app->make(Illuminate\Contracts\Http\Kernel::class);
 
$response = $kernel->handle(
    $request = Illuminate\Http\Request::capture()
);
 
$response->send();
 
$kernel->terminate($request, $response);
 
Arguments
  1. Illuminate\Http\Request {#42
      #json: null
      #convertedFiles: []
      #userResolver: Closure($guard = null) {#213 …4}
      #routeResolver: Closure() {#215 …4}
      +attributes: Symfony\Component\HttpFoundation\ParameterBag {#44}
      +request: Symfony\Component\HttpFoundation\ParameterBag {#50}
      +query: Symfony\Component\HttpFoundation\ParameterBag {#50}
      +server: Symfony\Component\HttpFoundation\ServerBag {#46}
      +files: Symfony\Component\HttpFoundation\FileBag {#47}
      +cookies: Symfony\Component\HttpFoundation\ParameterBag {#45}
      +headers: Symfony\Component\HttpFoundation\HeaderBag {#48}
      #content: null
      #languages: null
      #charsets: null
      #encodings: null
      #acceptableContentTypes: array:4 [
        0 => "text/html"
        1 => "application/xhtml+xml"
        2 => "application/xml"
        3 => "*/*"
      ]
      #pathInfo: "/major-reasons-european-accas-accounting-firms-outsourcing-india"
      #requestUri: "/major-reasons-european-accas-accounting-firms-outsourcing-india"
      #baseUrl: ""
      #basePath: null
      #method: "GET"
      #format: null
      #session: Illuminate\Session\Store {#244}
      #locale: null
      #defaultLocale: "en"
      -preferredFormat: null
      -isHostValid: true
      -isForwardedValid: true
      basePath: ""
      format: "html"
    }
    
  2. Illuminate\Http\Response {#363}
    

Environment & details:

empty
empty
empty
empty
empty
Key Value
LSPHP_ENABLE_USER_INI
"on"
PATH
"/usr/local/bin:/usr/bin:/bin"
TEMP
"/tmp"
TMP
"/tmp"
TMPDIR
"/tmp"
PWD
"/"
HTTP_ACCEPT
"text/html,application/xhtml+xml,application/xml;q=0.9,*/*;q=0.8"
HTTP_ACCEPT_ENCODING
"br,gzip"
HTTP_ACCEPT_LANGUAGE
"en-US,en;q=0.5"
HTTP_CONNECTION
"Keep-Alive"
CONTENT_LENGTH
"0"
HTTP_HOST
"accountingoutsourcehub.com"
HTTP_USER_AGENT
"CCBot/2.0 (https://commoncrawl.org/faq/)"
HTTP_IF_MODIFIED_SINCE
"Wed, 03 Mar 2021 11:24:15 GMT"
REDIRECT_UNIQUE_ID
"Yanq9GYg7jQoRVngPIrYdgAAAIg"
REDIRECT_SCRIPT_URL
"/major-reasons-european-accas-accounting-firms-outsourcing-india"
REDIRECT_SCRIPT_URI
"http://accountingoutsourcehub.com/major-reasons-european-accas-accounting-firms-outsourcing-india"
REDIRECT_GD-USERNAME
"globaljatinder"
REDIRECT_STATUS
"200"
UNIQUE_ID
"Yanq9GYg7jQoRVngPIrYdgAAAIg"
SCRIPT_URL
"/major-reasons-european-accas-accounting-firms-outsourcing-india"
SCRIPT_URI
"http://accountingoutsourcehub.com/major-reasons-european-accas-accounting-firms-outsourcing-india"
GD-USERNAME
"globaljatinder"
SERVER_SIGNATURE
""
SERVER_SOFTWARE
"Apache"
SERVER_NAME
"accountingoutsourcehub.com"
SERVER_ADDR
"107.180.2.202"
SERVER_PORT
"80"
REMOTE_ADDR
"54.234.191.202"
DOCUMENT_ROOT
"/home/globaljatinder/public_html"
REQUEST_SCHEME
"http"
CONTEXT_PREFIX
""
CONTEXT_DOCUMENT_ROOT
"/home/globaljatinder/public_html"
SERVER_ADMIN
"webmaster@accountingoutsourcehub.com"
SCRIPT_FILENAME
"/home/globaljatinder/public_html/index.php"
REMOTE_PORT
"44458"
REDIRECT_URL
"/major-reasons-european-accas-accounting-firms-outsourcing-india"
SERVER_PROTOCOL
"HTTP/1.1"
REQUEST_METHOD
"GET"
QUERY_STRING
""
REQUEST_URI
"/major-reasons-european-accas-accounting-firms-outsourcing-india"
SCRIPT_NAME
"/index.php"
PHP_SELF
"/index.php"
REQUEST_TIME_FLOAT
1638525684.6693
REQUEST_TIME
1638525684
Key Value
LSPHP_ENABLE_USER_INI
"on"
PATH
"/usr/local/bin:/usr/bin:/bin"
TEMP
"/tmp"
TMP
"/tmp"
TMPDIR
"/tmp"
PWD
"/"
0. Whoops\Handler\PrettyPageHandler