06

Jun 2019

offshore-labour-hire-cocaine-for-accountants

Are offshoring labour hire services for Australian Compliance just like Cocaine for accountants?

By: Odyssey Outsourcing
Tags: Compliance Work, hidden costs, outsourcing vs offshore labour hire

This week I had the opportunity to chat to an Australian accountant, who was talking about his decision to outsource work over to Odyssey. He mentioned that a lot of Australian accounting firms are being sold the opportunity to source a lower cost employee overseas, but on investigation involved a myriad of hidden costs: Recruitment fees of $2,000 to $4,000. …

30

May 2019

is-it-time-to-exit-older-accounting-firm-owners

Is it time to exit older accounting firm owners?

By: Odyssey General
Tags: Accounting firm owners, Change, Cloud software

After years of talking to Accounting firm business owners, we’re starting to see a trend. Older accounting firm owners are starting to be pushed out of their firms, or just closing shop. And it’s not just us noticing the trends: ‘The doomsayers are wrong’: Accounting industry younger and thriving ATO Assistant Commissioner Colin Walker has revealed new demographics for the …

23

May 2019

How to conduct a Post-Implementation Review

How to conduct a Post-Implementation Review

By: Odyssey Outsourcing

When it comes to the management and monitoring stage in the outsourcing, you should conduct a post-implementation review to assess how well the transition went. This is to measure the results of the project, identify key lessons learned and develop an action plan in accordance with the findings. The list of questions below gives you a guideline of what issues …

16

May 2019

workpapers-australian-accountants-dirty-little-secret

Workpapers: Australian accountants dirty little secret

By: Odyssey General
Tags: ATO, future of compliance, working papers

This week seemed to be a meeting of a number of issues that led us to consider the future of Australian taxation compliance. We believe that Odyssey completing some 50,000 jobs annually for some 500 Australian accounting firms gives us the opportunity to have higher level visibility than most firms. This week started with receiving a garbage set of prior …

09

May 2019

Toxic inhouse SMSF work culture

Toxic inhouse SMSF work culture leads to outsourcing

By: Odyssey Outsourcing

This week I had the opportunity to chat to a Melbourne accountant, who was talking about his decision to outsource work over to Odyssey. Interestingly, he used the words that he had a “toxic inhouse SMSF work culture”, to which I asked him to explain a little more as this is an unusual word to associate with inhouse employees. The …

02

May 2019

3 tax law benefits of working with an outsourcing partner

Three unknown benefits of Outsourcing Australian compliance work to a Trusted Outsourcing partner with current knowledge of Australian tax laws

By: Odyssey Outsourcing
Tags: australian tax laws, Quality, realtime, up to date

Australian outsourced tax preparation outsourcing services can help public accounting firms of all sizes. Particularly, outsourcing allows smaller practices to compete with the same quality as larger firms that have invested more heavily in training/systems/procedures. This week we have a look at three often unknown benefits of outsourcing work to a trusted outsourcing partner Benefit 1: Zero tension regarding Australian …

25

Apr 2019

The shift to strategic review

Quality Australian Tax compliance outsourcing: the shift to review

By: Odyssey Outsourcing
Tags: compliance, Firm of the future, strategic review, switch to advisory

Australian outsourced tax preparation outsourcing services can help public accounting firms of all sizes. Regardless of size of the Australian accounting firm, a quality outsourced services provider will return high quality work, in an exceptional format, in a timely manner. Today we have a quick look at one area many accounting firms struggle to control: preparing and reviewing quality compliance …

18

Apr 2019

What Should Be Included in an Outsourcing Agreement - Part 2

What Should Be Included in an Outsourcing Agreement – Part 2 of 2

By: Odyssey Outsourcing
Tags: confidentiality, data retention, intellectual property, jurisdiction, privacy, Security

Prior to checking this post out, take a recap on the first part related to what should be included in an outsourcing agreement. This post is to present the remaining items as below. Your obligations and those of the OSP Obligations and rights of the parties to the outsourcing agreement Nature of the information to be provided by you and the …

11

Apr 2019

What Should Be Included in an Outsourcing Agreement - Part 1

What Should Be Included in an Outsourcing Agreement – Part 1 of 2

By: Odyssey Outsourcing
Tags: outsourcing agreement, pricing, scope, terms, warranties

The CPA Australia Outsourcing Guide provides a comprehensive checklist of what should be included in an outsourcing agreement. There are 15 main items that should be covered in an outsourcing agreement. This post will present the first 7 items as below Scope and performance of services Detailed description of the type and scope of outsourced services to be provided where a resource …

04

Apr 2019

Free up local staff

Is it time to Free your mind, and your staff … from Australian accounting and tax compliance work?

By: Odyssey Outsourcing
Tags: compliance, low cost, low staff turnover, Outsourcing

Australian outsourced tax preparation outsourcing services can help public accounting firms of all sizes. Particularly, outsourcing allows smaller practices to compete with the same quality as larger firms that have invested more heavily in training/systems/procedures. While both outsourcing and offshoring offer lower costs, outsourcing provides significant more benefits. Outsourcing allows firms to offer more interesting and varied and challenging work …