It's that time of the Quarter: Offshoring accounting
Though entire books have been written on aspects of software services and offshoring, the business model is rather prosaic involving two main dimensions: selling the services and ensuring that the projects and programs are delivered as agreed on. Though it is a highly oversimplified way of looking at our ‘business’ most of what we do could certainly fall into either of the two buckets. And selling the services essentially means that clients value the services enough to be willing to fork out agreed amounts, which in turn has to be accounted in our books and reported as quarterly, annual and periodic reports to stakeholders.
What does all this mean: If you see your account manager from the offshore vendor walk-in with a harried look and an ‘urgent’ request to approve the SoW or Purchase Order that is sitting in your workflow, you know what to do.
Back to where I started, it’s that time of the quarter: I better logoff and enter my financials in our system, trigger the process to raise invoices etc etc.
