17

Nov 2022

Australian accountants are on notice: workers at home are to be replaced by robots

By: Odyssey Uncategorised
Tags: artificial intelligence, Australian Accountant, Automation, labour shortage, Outsourcing, unemployment

It’s hard to imagine in this never ending climate of tax changes, but there’s a clear vision that some workers are going to be replaced by automation. While frustratingly many of us spend hours on the phone clicking through the many options to get us to a real human, or struggling with the Customs lines on arrival into Australia, it …

03

Nov 2022

Why a $50,000 pay rise probably won’t secure you an accounting resource

By: Odyssey Uncategorised
Tags: Australian Accountant, Australian compliance, labour shortage, offshore, Outsourcing, skilled migration

More recently there has been news articles of the high salary increases demanded and received by accountants and IT workers who are in short supply in the economy. There was an article mentioning that $50,000 was the starting point to attract a resource, but it might not be enough to seal the deal. There have been rumblings in the area …

20

Oct 2022

The Australian accounting shortage is likely to last 7-10 years

By: Odyssey Uncategorised
Tags: artificial intelligence, Australian Accountant, Automation, labour shortage, Outsourcing, robotics, visas

Australian accounting staff shortages are likely to exist for 5 plus years, and one pundit recently suggested a shortage stretching from 7-10 years. This staff shortage requires accountants to rethink what services they should offer, and which clients they should be servicing. With an ongoing shortage of talent in this space, paying to attract employees and retain the best ones …

06

Oct 2022

Are skilled workers the solution to Australia’s accounting shortage

By: Odyssey Uncategorised
Tags: Australian Accountant, labour shortage, offshore, Outsourcing, Post-COVID, visas

It seems the new Australian government is refocussing on restarting the permanent skilled workers, giving them top priority. However, reading further into this, the government is going to prioritise the processing of almost 60,000 permanent visa applications lodged by skilled workers based overseas, in a bid to rapidly reduce areas of dire shortage such as health, education and aged care. …

22

Sep 2022

Geographical and geopolitical risks for outsourcing Australian accounting and tax returns

By: Odyssey Uncategorised
Tags: Australian Accountant, Geographical risk, Geopolitical risk, Offshoring, Outsourcing, Post-COVID, Price surges

Post COVID there has been significant global and economic factors contributing to upheaval of the traditional ways of doing business. COVID contributed to significant pressures on the global supply chain, for which the world has not yet recovered. There’s a shortage of everything from shipping containers to microchips. China continues to establish an increasing presence in the world stage, and …

08

Sep 2022

Australian accounting firms’ new norm: remote working is in

By: Odyssey Uncategorised
Tags: Australian Accountant, Hybrid working, Outsourcing, Post-COVID, Remote working, Working conditions

The June 2022 Hays Salary guide recently released had some auspicious information for Australian accounting firms struggling to find employees to man the computers in the Australian accounting compliance space. The majority of employers (88%) are going to be increasing the salaries of their employees in the next review. And 77% say the skills shortage has forced them to offer …

25

Aug 2022

Australian accountants: why now is the best time to put up your prices

By: Odyssey Uncategorised
Tags: Australian Accountant, Australian compliance, inflation, Outsourcing, Profit margin

Inflation is continuing to rise in many countries doing business with Australia, or aligned economically or geographically with Australia. In the US, inflation was recorded just shy of 10% in July 2022.  And over the ditch in New Zealand, inflation rose to 7.3pc, its highest in 32 years. Australian inflation is also on the increase, with Australia’s Q1 2022 inflation …

11

Aug 2022

ABS Census data: what it means for Australian accounting firm owners

By: Odyssey Uncategorised
Tags: Australian Accountant, australian tax return outsourcing vietnam, compliance, digitization, migration, Post-COVID

The annual Australian Bureau of Statistics 2021 census data was recently released, and there are some nuggets of information for Australian accounting firm owners. Some of the stranger numbers must be attributed to Covid, and the particular states approach to lockdowns. Many city dwellers have moved to regional locations away from the cities, especially those that had tough long lockdowns. …

28

Jul 2022

Upsurge in accounting salaries, skills needed in data visualization and SME insight analysis

By: Odyssey Uncategorised
Tags: Australian Accountant, compliance, Cyber Security, Data security, inflation, Upskilling

As the AFR recently noted, we’re still seeing the war for Australian accounting talent is becoming increasingly fierce. At the smaller end of the town, in the suburbs and the regional areas, it’s becoming increasingly difficult to compete with the larger salaries being offered by the bigger firms. One recent article mentioned “raids” of smaller firms by bigger companies, often …

21

Jul 2022

Job vacancies at all-time high

By: Odyssey Uncategorised
Tags: Australian Accountant, job advertisements, labour shortage, offshore, Outsourcing, Post-COVID, visas

It’s a difficult time to be looking for more accounting resources. We’re seeing increased pressures on accounting wages domestically due to the three prong factors of limited skilled short term and long term immigration exacerbated by budget cuts in the home affairs department (responsible for processing skilled visas), reduction of international students in the Australian universities,  and high job vacancy …