Are you an accountant that is worth more than $5 per hour?

Following on from the last post I now share the 2nd theme which is contributing to the inevitably of compliance services not dying, but certainly being eked away bit by bit. The surge in the use of outsourced services as indicated by the popularity of sites such as odesk, elance & freelancer. These sites have a created a global market for anyone to buy services ranging from bookkeeping up to network administration.

A quick scan through the elance.com site shows that there are over 1.8million individuals who provide services on an hour by hour basis with costs ranging from as little as $5 per hour. what is even more interesting is the range of skills. Here is a list of skills & disciplines in just 3 areas pertinent to this accounting blog. The numbers in brackets refer to the number of contractors on the elance site that offer the service.

Finance Professionals
Accounting (13,494)
Accounts Payable (4,563)
Accounts Receivable (4,699)
Analytics (3,560)
Bookkeeping (6,303)
Budgeting & Forecasting (3,598)
Business Analysis (5,493)
Business Mathematics (1,206)
Business Plans (5,826)
Corporate Strategy (1,893)
Data Interpretation (989)
Data Sufficiency (197)
Financial Analysis (6,102)
Financial Forecasting (3,517)
Financial Management (11,258)
Financial Reporting (6,059)
Financial Statements (4,668)
Human Resources (2,281)
Inventory Management (1,522)
Investment Research (932)
Job Costing (728)
Lacerte (45)
MYOB (357)
Management (21,831)
Negotiation (1,589)
Operations Management (4,238)
Organizational Behavior (624)
Payroll (3,230)
Peachtree (986)
Project Management (6,358)
QuickBooks (2,951)
Quicken (205)
Six Sigma (330)
Statistics (1,078)
Strategic Planning (1,599)
TQM (23)
Tax Preparation (2,067)

 

Consultants
Accounting (13,494)
Accounts Payable (4,563)
Accounts Receivable (4,699)
Analytics (3,560)
Bookkeeping (6,303)
Budgeting & Forecasting (3,598)
Business Analysis (5,493)
Business Mathematics (1,206)
Business Plans (5,826)
Corporate Strategy (1,893)
Data Interpretation (989)
Data Sufficiency (197)
Financial Analysis (6,102)
Financial Forecasting (3,517)
Financial Management (11,258)
Financial Reporting (6,059)
Financial Statements (4,668)
Human Resources (2,281)
Inventory Management (1,522)
Investment Research (932)
Job Costing (728)
Lacerte (45)
MYOB (357)
Management (21,831)
Negotiation (1,589)
Operations Management (4,238)
Organizational Behavior (624)
Payroll (3,230)
Peachtree (986)
Project Management (6,358)
QuickBooks (2,951)
Quicken (205)
Six Sigma (330)
Statistics (1,078)
Strategic Planning (1,599)
TQM (23)
Tax Preparation (2,067)

What more can one say? The above is only one such site. I know what you’rte thinking. What’s the use of having people in India, Sri Lanka and similar places doing your accounts? If you can’t see the use to a business person needing a compliance servoce done then that in itself concerns me 🙁   See you next post.

All my best,

James E.