Opinions Needed on the idea of Virtual Overseas Bookkeeping

Hello guys,

We all know due to technology the distance is getting smaller, I would love to know everyone's comments on the idea of an overseas Bookkeeping VA. For those that have bookkeeping businesses can comment on the value they or the idea would provide to your small bookkeeping business and any issues you would, expect to be taken care of due to operating in an international environment.



Thanks in advance

Hi OffShore,

There were some excellent responses to your last post about international bookkeeping here Legal Issues that answer your question.

Although I am not a bookkeeper, I am a virtual assistant. I thought I'd take a stab at answering your questions from the 'fly on the wall' aspect after reading your other discussions here on VAF.

Your question is really two-fold...virtual bookkeeping...is that plausible and the answer of course is 'yes'. Some of our finest virtual bookkeeping VAs are located here on VAF.

And the second part...operating in an international environment? And the answer is an emphatic 'yes' as well.

There are enough virtual customers worldwide for all VAs, however, VA work is all about trust and that I see could be your one 'start-up obstacle'. Half the battle is won if a client trusts a VA to do their work whether it be international or local.

While the world is indeed global and we are all tied together through technology, it is much more difficult to trust someone who is not at the very least in the same country doing work that can requires some level of security. Even if you are reconciling invoices and accounts, that information is still personal to the company itself and the thought that this information is being sent out of country, can be difficult for some US companies to fathom. It may also be more work for the US company to get the invoicing information to you whereas working with a local VA may be more expensive but less work to scan receipts and/or ship documents overseas.

That is not to say there aren't any US companies willing to send their work overseas. We see this happen all the time. But I believe that the type of work has to have a 'low risk' element involved and less expensive as I mentioned. Which is why web design, telephone answering, coding, graphics design for example are big markets for overseas virtual assistant companies. The risk is low for these services for US businesses and they don't have to do much other than send an email with their requests.

If you want to target US businesses, I suggest that you concentrate not on whether it will work or not. Spend your time building trust with US companies you want to target perhaps by taking on small jobs. Once they know their information is safe and they build trust with you as a virtual assistant, gradually the larger jobs may come and be more profitable for you. Try the social networking sites such as LinkedIn for bookkeeping international groups.

You said that you lived here in the US. Think about any US contacts you may have made. They may be a good source for you to start communicating and presenting your services and the solutions you provide. That's what all customers what to see...what benefit would it be to ME as a business owner to have my bookkeeping go to you? Can I trust you?

Also, you may want to check with other Pakistan businesses to see how they have entered the US market. You mentioned there was a US trucking company (I think) that used VA services. Check with them to see if you can take on some of the responsibilities.

It's not that I don't think you can target US business, it is just that I think it will take a little longer to get your message across that you can do the same job at a savings to the company.

PS - Please sign your name and complete your profile. It is always nice to know who it is we are chatting with. Thanks!

Janine

Janine.
I am really glad for the long response. Janine yes I am in the process of reaching out to the billing supervisor in the Trucking Company. It can be a good way to get my first testimonial.
I agree that Bookkeeping is a high risk area even if you are dealing with small businesses since it deals with private confidential data unlike other services as web design. As you stated main obstacle is Trust. Therefore my focus has always been more on making relationships than jump starting my business, I believe this complements my end goal.

I am very active in Linkedin Janine, It is also a great universal source of information.

I will complete my profile,

Regards