Outsourcing has been in the news recently, and online comments on what Australian accountants are thinking about outsourcing are quite enlightening. So what are they actually thinking? Trolling through some Australian online sites, we’ve found some interesting comments. Australian accountants are: concerned about the impact of outsourcing have seen poor work quality Have concerns that the foreign worker does not …
Mediocrity and the offshore worker
There is a large amount of Australian compliance work being done overseas, and recently there have been cheaper “offshore” offerings by labour hire firms. These labour hire firms tend to offer a controlled offering, which seems to be accepted in line with the traditional business model some accountants understand and prefer. Newer accounting business model adoptees are ok with the …
2018 – the year to bring Bookkeeping back inhouse, and outsourced.
Bookkeeping has been on the backburner for quite some time. A lot of accountants have been focused on the complexity of compliance, the cloud, digitization, and automation. At the same time, there’s been a battle in the SMSF arena as the competition heats up, and not just between accountants who have been outsourcing overseas, but also with newcomers in the …
The Top 9 reasons why your Accounting firm probably isn’t Outsourcing
As you’ve probably seen from our blog postings, there are plenty of benefits of outsourcing accounting and tax compliance. However, we’ve also seen a lot of people come up with excuses as to why accounting outsourcing won’t work for their firm. So we thought this week we’d give you the “Best of the Best” excuses about why people haven’t gone …
3 Tips to make Outsourcing a success…
From the past year we’ve identified 3 tips important to making outsourcing a success: Tip 1. Select a large Outsourcing services provider who has plenty of experience in the marketplace, and plenty of resources to allow you to expand. Whilst the newer comers into the Outsourcing space might seem attractive, the lower cost usually comes at a price. The lack …
Offshore workers not equal: the importance of a good due diligence.
More recently we’ve been blogging about the desire of offshore labour providers (offshoring) to have above market remuneration and conditions, which allows them to pass on the (hidden) cost of these conditions to the client, usually the Australian accounting firm. We were recently exchanging communication with an offshore services provider in the Philippines recently related to our blog on Offshore labour …
Do Offshore BPO workers have the last laugh?
We were reading some reviews the other day of some of the Offshore workers comments on various review sites. Sites such as glassdoor.com, indeed.com or jobstreet.com can give some excellent reviews not only of the working conditions in the company, but also whether employees think they are getting a fair deal. The “fair deal” includes not only remuneration, but the …
Why outsourcing is critical for your retirement nest egg
I spotted this interesting article last year on an investment site, where some 48 experts have been asked the question: “How much money do you need to retire ?”, and for our accounting brains that are used to answers down to 2 decimal places, the answers are pretty shocking. The short answer is “it depends”, and the range of amounts …
Are fixed salaries and full-time workers soon to be a thing of the past?
Flexibility. It’s coming faster than you think. And for those resisting change, it might be time to think about re-structuring salary remuneration in line with the times in order to retain outstanding talent. The Gig economy pushes towards temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees. And though it might …
Offshoring – are you caught by the royalty withholding rules?
Australian businesses looking to pay for outsource or offshore services need to be aware of the royalty withholding rules under Australia’s tax laws. For clients that are offshoring and paying a “seat lease” fee which includes rental of office equipment and software, then a payment for some of these items might arguably fall within the ambit of Royalty. As noted …
