Aug 2019

Australian tax compliance outsourcing

Australian tax compliance outsourcing: The Odyssey Outsourcing model versus Offshoring to the Philippines

By: Odyssey Outsourcing
Tags: Australian tax compliance outsourcing, Outsourcing

Odyssey Outsourcing specialists have been providing Australian Outsourced accounting, bookkeeping and tax services since 2006.

As you’d expect, over the past 15 years we’ve seen a lot of water under the bridge. Mobile phones have arrived, the internet speeds and reliability have increased, and the cloud is now a part of many Australian accountants lives.

The cloud affects not only bookkeeping, accounting and taxation, but also affects Australian accounting firms clients. There are myriad of apps and add-ons, with over 1,000 apps and add-ons for some of the major Australian software houses. At the same time, Software as a Service (SAAS) has not only arrived, but is firmly entrenched in many Australian accounting firms.

So through the past 15 years we’ve continued to refine outsourcing model, systems and procedures, in order to give our customers the Odyssey quality service for which we are well known.

Our business model is proven and has allowed us to complete nearly 250,000 financial statements and tax returns for our Australian accounting firm customers.

So what do we offer that sets us apart from the others?

Odyssey’s Outsourcing model

  • Odyssey provides experienced staff from day one. First hour first job is productive
  • Odyssey has experienced competent staff do not require training or management. Management is provided onsite by Compliance experts with up to 15 years of experience. Staff do not need to come back to you for queries.
  • With the breadth of staff, jobs are allocated to the best person with the best experience in that job.
  • Systems have been developed to streamline work through the Odyssey office.
  • Quality is key to the completion of work.
  • Staff have thorough working knowledge of Australian tax law. Staff have access to managers when required to discuss issues, saving you communication time. Problems are solved immediately onsite.
  • Consistency of staff, with extremely low attrition rate. Staff are happy with job mixes, and can progress and be promoted at their own speed. Staff can move to different client jobs if they aren’t enjoying the work. Staff aren’t compelled to suffer groundhog day – the mindless preparation of the same work every month!
  • Odyssey’s model offer flexibility in resources. It’s a service on demand. Feel like taking a 6 week break over Christmas, or a 2 month break in Europe at the end of the tax year – go ahead, Odyssey charges nothing when you aren’t sending us work.
  • There is no commitment during off-peak times, or on-peak times. Send whatever you want whenever you want.
  • Senior accountants lead the teams, and senior managers review the work. This means quality job queries, and quality work returns.

Offshoring Model

  • Staff generally have no experience. They usually start with the knowledge of an Australian graduate and will require your constant supervision and training. It’s likely they’ll have a couple of years experience.
  • Staff require continual management with training and support just like a regular employee. Australia delights in implementing new tax laws continually, some retroactively.
  • Staff require training in Australian taxation systems, and the taxation regulations and rules are not inherently understandable. For instance, superannuation is a concept only really understood by an Australian.
  • High staff turnover, with an average employment period of 2 years
  • You have to commit to paying offshore staff even if you run out of work for them
  • Staff want to work during Dec / Jan when it is quietest for AU
  • No support team to help ensure the work is to standard
  • Costs are based on a 40 hour week – whether the staff are productive or not
  • Some support in hiring – but not in ongoing processes and when staff leave you have to go through the entire re-training process again!

Yes, the offshoring model is cheaper, but it’s the old quality versus quantity question.  DIFM (Do it For Me) versus DIY (Do it yourself).

Odyssey has proven over time that the investment in people, systems and procedures results in better quality work, happier staff, and a better service.

Contact us if you’d like to chat more about how Odyssey can assist with your compliance workload.

Share this article