The Cost-Saving Benefits of Outsourcing Accounting with Example Scenarios

June 11, 2025

Managing finances is a critical but costly part of running a business in the Philippines. Thankfully, both startups and established companies can make this necessary expense more affordable by delegating many of these tasks to us. Triple i Consulting can manage your financial reporting needs or assist your in-house accounting team with complex tasks during peak seasons.

Below, we explore how this common practice saves businesses money.

Benefit 1: Lower Labor Costs Without Sacrificing Expertise

Hiring an in-house accounting team is expensive. A full-time senior accountant’s salary is already high, and you may also have to hire a junior accountant to assist. Paying for their salaries, bonuses, benefits, and office space adds up quickly.

Outsourcing eliminates these overheads. You pay only for the services you need, often at a lower cost compared to hiring a full-time employee. Triple i Consulting has a team of skilled accountants, ensuring high-quality work without a high price tag.

Example: A retail business pays for a full-time senior accountant. Meanwhile, outsourcing bookkeeping, tax preparation, payroll, and related services can accomplish the same tasks, often at a more competitive rate. You also won’t need to pay bonuses, benefits, and office space.

Benefit 2. Solves the High-Turnover and Training Problem

Hiring and retaining skilled accounting staff can be a constant challenge, especially for small to mid-sized businesses. If you only have a few in-house accountants, even losing one of them could really hurt your business.

Frequent turnover leads to disruptions, lost knowledge, ongoing training costs, and overall less experienced staff. Outsourcing solves this by giving you access to a stable team of experts without the HR headaches.

Example: A medium-sized construction firm in Metro Manila struggled with frequent resignations in its accounting team, requiring them to retrain new hires every few months. This constant turnover caused reporting delays and increased the company’s recruitment and training costs.

By outsourcing, they gained consistent service from a dedicated team, eliminated training expenses, and improved reporting accuracy—all for roughly the same cost they previously paid for in-house staff. In the end, they got better results and lowered their hiring-related costs.

Benefit 3: Reduced Errors and Increased Savings

Accounting errors can be costly. Mistakes in bookkeeping or tax filings can lead to penalties, missed deductions, or compliance audits.

Triple i Consulting specializes in compliance and uses advanced software to minimize errors. Their teams stay updated on regulations, ensuring accurate filings and maximizing deductions. There’s a reason it’s common practice in the Philippines to have your financial statements audited by outsourcing.

Example: A Filipino food delivery startup struggled with late filings and inaccurate tax records due to limited accounting expertise in-house. This led to BIR penalties and unclaimed input VAT.

After outsourcing their accounting tasks, their filings became accurate and on time. They recovered missed VAT credits and optimized their tax deductions, resulting in significant annual savings.

Benefit 4. Scalable Services Tailored to Your Needs

In-house accounting teams lack flexibility. A full-time employee may be underutilized during slow periods or overwhelmed during peak times, like the beginning of the year.

Outsourcing offers scalability—you pay only for what you need when you need it. If you only need their services during the peak season, then you only have to hire them during that time.

Example: A seasonal e-commerce business required intensive accounting support during the holiday rush but only minimal assistance during the off-season. Hiring a full-time senior accountant proved inefficient, being mostly underutilized but overwhelmed in peak seasons.

Outsourcing gives the company the service it needs during any given period. Additionally, just like our first example, this can save significantly by avoiding paying employee bonuses, benefits, and office space.

Benefit 5: Time Savings for Revenue-Generating Activities

Managing accounting in-house can distract business owners from revenue-generating tasks like marketing and sales. Outsourced accounting frees up time by handling routine tasks like bookkeeping, allowing you to focus on growing your business.

Example: A law firm’s owner spent 15 hours weekly on bookkeeping. Realizing that even if he knew how to, accounting wasn’t a good use of his time, he began outsourcing these tasks in the following year.

The owner redirected time to client acquisition, boosting revenue and increasing their net profit.

Final Thoughts

Outsourcing your accounting is a strategic way to save money and improve efficiency. By cutting labor costs, reducing errors, scaling services, and freeing up time, businesses can redirect resources to growth. Whether you’re a corporation, startup, or seasonal business, outsourcing offers measurable savings and peace of mind.

Is Your Accounting as Efficient as It Can Be? Book a Consultation to Find Out.

Triple i Consulting is dedicated to delivering great value to our clients. Schedule a consultation so we can evaluate your accounting and identify areas where we can provide support. This process ensures we can provide customized solutions that enhance efficiency and align with your goals.

We’re among the best accounting outsourcing companies in the Philippines, offering bookkeeping, auditing, payroll, and tax consultation services. So let our experienced accountants and lawyers provide comprehensive support for your business, so you don’t have to stress over the paperwork.

You can find a list of our accounting and legal services here.