Jun 2016

Capacity planning… We don’t need no capacity planning

By: Odyssey Outsourcing
Tags: Capacity planning, Offshoring, Overseas outsourcing, SMSF outsourcing, tax outsourcing

Or perhaps it was badges we didn’t need… With a nod to the 1927 novel “The Treasure of the Sierra Madre”, we head off to discuss the hotly contested issue of capacity planning. Wikipedia notes Capacity planning as the process of determining the production capacity needed by an organization to meet changing demands for its products. Capacity planning is normally raised …


Jun 2016

Lessons for accountants from the mattress industry

By: Odyssey Publication
Tags: 300% markups, Destablisation, huge profits, Offshoring tax returns, online

Just last week there was a news article that spoke about the indignation of some customers hearing that mattress companies had 300% markups, huge profits, and hundreds of near identical mattresses sold under different names and prices. The mattress article above mentioned beds that retail for $10,000 are being made for as little as $1,500 overseas. That is, the manufacture cost …


Jun 2016

Australian Accountants are using offshore outsourcing

By: Odyssey In the Press
Tags: APESB, compliance, Offshoring, Outsourcing

Just last week a news article came out with the heading: “Australian accountants are using offshore outsourcing” In an era where newspapers search for newsworthy news, this might be as shocking as it gets in the accounting world. The first interesting question is why, after a week of the article being online, there are yet no comments. Perhaps this isn’t …


Jun 2016

Joining the Dots… Decision making for a new era

By: Odyssey Publication
Tags: C-level executives, Management Accounting

Now that accountants have been advised of the need to rely less on compliance revenue, there is a lot of talk around pushing into new areas to support their clients, with business consulting being one of the newly touted revenue streams. At the same time, it’s worth looking at Management accounting, the oft overlooked relative. The AICPA and CIMA have been …


May 2016

Cloud accounting and automation threatens compliance jobs. A lesson from Driverless cars

By: Odyssey Cloud
Tags: Automation, Disruption, Internet of Things

You’d probably have been in a secluded cave if you haven’t heard about the internet of things.  However, we’re now on the edge of driverless cars, with many countries now having working cars available, but just needing regulations on how the vehicles will communicate on the roads.  We’re now on the cusp of seeing some incredible things that we’ve only …


May 2016

Sometimes the freelance model doesn’t cut it…

By: Odyssey Outsourcing
Tags: Freelance, Infrastructure, Security, Tax

Our Business development frequently receives calls comparing the freelance model to our hourly model. A lot of times these phone calls reveal accounting firms have been using freelance staff from freelance sites with success in roles such as virtual administration, IT support, IT coding, photography, website design, public relations, marketing, sales, and SEO. However, when the same firms look to …


May 2016

SOA Automation. Tools promising 80% time savings putting pressure on offshore Paraplanners

By: Odyssey In the Press
Tags: Automation, Cost Savings, SOA

A non-institutionally owned financial planning and accounting dealer group has launched an automated Statement of Advice (SoA) tool it claims will cut the time it takes accountants to produce a range of advice documents by up to 80 per cent. The tool produces SOA’s in five key areas: stablishing a self-managed superannuation fund (SMSF); borrowing to invest in real estate under a Limited Recourse …


May 2016

Accountants advised on outsourcing quality problems

By: Odyssey Publication
Tags: Ad hoc resources, Full time resources, limited outsourcing supply, Quality

Mitchell Turner released an article on Accountants Daily, explaining that there can be inconsistency issues and wavering quality levels when it comes to outsourcing of operations  overseas. This article might have been headed: “Problems with outsourcing”. As the article indicates, one Outsourcing provider notes the problems with controlling and managing outsourcing operations, quite possibly in reference to the recent trend …


Apr 2016

Millennials and their impact on Australian Accounting firms… and the fixed offshore resource model

By: Odyssey Publication
Tags: Fixed offshore model, Gen X, Gen Y, Millennials

Millennials (also known as the Millennial Generation or Generation Y) are the demographic generation following Generation X. There are no precise dates for when the generation starts and ends; most researchers and commentators use birth years ranging from the early 1980s to the early 2000s. The Millennials seem to be making a lot of people worried. With blog postings like …