Last week we had to let go one of our larger clients, who has been a client for almost 10 years. The issue involved several issues, the main one being we were losing money due to scope creep on the services and an unwillingness to renegotiate based on increased scope of services. Letting clients go is a skill we don’t …
10 key reasons why Bookkeeping outsourcing is critical for Australian accounting firms
There has been a lot of movement into bookkeeping by Australian accounting firms, and this has been well documented in the past year. As compliance moves into the cloud and is automated, it is now more critical that Australian accountants extend their influence and ability into areas of current concern, where their role of trusted adviser can best be utilized. …
Top 5 reasons why Australian Accounting firms are outsourcing overseas
Australian accounting firms are moving into cloud, automation, and outsourcing at an increasing pace. In 2012 Odyssey’s CEO presented at the IPA Conference on “Outsourcing: Out of the closet and into the Cloud”. Fast forward to today, and everyone knows about outsourcing, and it’s widely accepted amongst the Australian accounting community. Certainly Australian accounting and tax compliance outsourcing has come …
Offshoring versus Outsourcing? Why the confusion remains
Our CEO was visiting a client in Canberra the other day, and discussion invariably ended up mentioning the aggressive pursuit by offshore labour providers in the Philippines. The question then had to be asked: why are some firms considering the Philippines labour hire solutions, while other firms are knocking them back and working with Outsourcing offerings. The response was: Offshoring …
Its ok for the 10% of what you love to change over the years
Last week we talked about finding that optimum spot in your working life. Our view is that work (and life) satisfaction comes from spending 90% (or more) doing the 10% that you love, and 10% of your time on the 90% other stuff. There needs to be downtime, but the most benefit in life comes from challenging yourself in the …
Are you doing the 10% you love?
I had a chat with a business owner the other day. In actual fact, he was no longer the business owner. His dad had setup the firm many years ago, and he had inherited the firm as his dad retired. He had worked in the business for several years, and for several more years he ran the business as a …
The fastest accountant in the world
We complete some 50,000 Australian tax, accounting, bookkeeping and sundry compliance jobs annually. It’s interesting when we get a new client, that sometimes they ask about the hours we’re charging. Of course, it’s a great discussion, and allows us to break down what we were doing on the job (we have some excellent inhouse built systems), to explain the process. …
Stop emailing me with offers of resources: I can code, and so can my staff
I was looking through one of my social media feeds recently, and saw in the news feed a comment from a frustrated IT person, who was obviously receiving far too much email spam (like that never happens to anyone in real life right?), and somewhat frustratedly had jumped onto social media to indicate they could code and had no need …
Outsourcing: the importance of understanding where you work
While travelling around we recently spotted a sign nearby a water drinking source. At first glance the sign appears totally in order, both in the original language, and in the translated English. However, native English speakers would likely note that “All sorts of pollution is banned” does not quite resolve the problem. Indeed “All Sorts” is not fully exclusive or …
Australian tax compliance outsourcing: The Odyssey Outsourcing model versus Offshoring to the Philippines
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 …