Accounting and the Gig Economy: Tech Tools for Accountants in the BPO Landscape
December 1, 2023
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The rise of the gig economy and the growing demand for accounting BPO services have created a unique opportunity for accountants in Africa.
This article explores crucial technological tools designed to help accountants in the BPO industry in Africa to streamline and improve their accounting operations.
In recent years, Africa has become an emerging hub for business process outsourcing (BPO) companies, offering clients in advanced economies high-quality services at an affordable cost. Gig accountants offering offshore accounting services to help firms abroad are among the key roles driving this rise. These professionals are versed in the skills and expertise required in the gig economy and remote employment options.
The number of these freelancers and contract accountants offering remote bookkeeping and accounting services has the potential to rise significantly due to increased internet connection and the widespread adoption of cloud-based solutions. To succeed in this ever-changing environment, they must upskill in modern technology to deliver their services.
The Rise of the Gig Economy
Over the last decade, global companies have steadily led the push for the mass acceptance of the gig economy. As lockdowns spread nationwide in 2020, hundreds of thousands of new gig jobs appeared almost overnight. The epidemic expedited a change already on its way to becoming a prominent employment trend.
But grocery delivery and takeout were not the only sectors of the rapidly expanding gig economy. Professional gig roles also grew as workers were laid off and left their traditional office jobs to manage personal responsibilities.
Accounting careers are not an exception in the gig economy. It has changed from only tax preparation, embracing a wider range of accounting services to assist small and medium-sized businesses with all aspects of their bookkeeping and accounting needs. Freelance accounting gained popularity like never before as accountants pursued fractional accounting jobs at reputable firms beyond borders or went out on their own to offer accounting services.
Accounting Outsourcing Trend
Since the gig economy for bookkeeping and accounting emerged, hiring freelancers is becoming typical with the increasing popularity of outsourced accounting services to Africa. What helps freelance accountants streamline their services is:
Tools for Accountants to Effectively Work Remotely
Accountants in Africa require the appropriate combination of technological tools and solutions to operate effectively as gig workers while producing top-notch results for clients globally. The objective is to go beyond levels of work and comply with the offshoring firm's standards. To improve service delivery in this sector, here are some crucial technological tools that small and medium-scale accounting firms or gig accountants in Africa can utilise:
The most significant tip for working remotely in the present era is to employ reliable tools and link services that facilitate daily duties. Maintaining organization and communication with offshore employers is the goal.
A gig accountant must become proficient with his employer's choice of accounting tools. Thus, this "list" offers productivity-boosting accounting practice tools to succeed in a collaborative environment as a talent working onsite would do.
Schedule a free consultation with Workforce Africa to stay ahead in this evolving accounting landscape to succeed globally.