The growth of Outsourcing and Accounting Software in Bangladesh

Abstract

I have been an intern at Nongmin Consultancy Services for a period of 3 months commencing on 1 February,2021. There I was assigned to a team of accounting assistants from whom I got an in depth understanding of office culture and expanded my knowledge of accounting and finance. I also had the opportunity to learn one of the renowned accounting software QuickBooks which I faced tremendous difficulties at first. I also learned to adjust my work with the global pandemic, which entered all of us in a new era of office environment. I also saw how the two partners at NCS had used their credential as an advantage to pull clients for their firm. It also shows that although NCS operates in a highly competitive market the rewards are also very high. The key competitive edge NCS has gained is by differentiating themselves to become a paperless accounting firm and only targeting international clients as a form of not directly competing with the bigger firms in the country. The following report also shows that the BPO industry in Bangladesh is a lucrative industry to work in with investments and opportunities coming in vastly. With revenues generating up to $250 million the BPO of Bangladesh industry is booming due to skilled labor, lower cost of quality services and investment, however the challenges that lie ahead are problematic and in need of to be dealt with quickly for the industry to stay afloat and keep its competitive advantage from its competitors.