Outsourcing Of Accounting Services And Strategic Cost Management Method: (A Case Study Of Dangote Flour Plc And Doyin Investment Nig. Ltd)

Today's business strategy focuses on competitive customer value and quality, it requires a cost management system that enables companies to adopt appropriate strategic decisions which will lead to enhanced quality, improved profitability, strengthen competiveness, and bring about customer satisfaction. Opportunities through which firms can achieve the stated strategic goals include accounting services outsourcing. Hence this study is aimed at investigating the role of accounting services outsourcing as a strategic cost management technique using two manufacturing companies at Ilorin, Kwara State as a case study; which are Dangote flour Plc and Doyin investment Nig. Ltd. The result indicates that few accounting processes are outsourced. The respondents, on average, perceived the outsourced accounting services are resulting in net risks. The findings of the study lead to the conclusion that accounting services is important in solving cost management problems of manufacturing companies. This research recommends that the vendor and vendee should see themselves as business partners in the value chain to minimize possible lack of trust. Accounting professional should also develop skills in order to participate in the growing range of outsourcing assignments and be in a better position to render efficient services to clients.