In this blog we look at 8 key advantages of using ad-hoc resources for Australian tax compliance outsourcing. Warning: These are the secrets the “per seat” leasing people would rather you didn’t know… You cut down your overheads by only paying for Actual work done This is the most important factor. You don’t have to pay for all the overheads …
Australia’s Controlled Foreign Companies rules tightened: Bywater Investments revisited
There have been several interesting events in the offshore world recently. As the Panama papers and then the Paradise papers unfolded, it seems pretty obvious that hiding in low or no tax jurisdictions is becoming less cool. It’s relatively easy these days to wake up to find massive amounts of data hacked from secure systems, and not all companies responsibly …
OutsourcingPhobia, shining a light on our Australian tax Compliance fears
We were looking through the phobia list the other day, which is pretty massive in itself, and decided it was about time that we put a name to the fear of outsourcing. It’s often been said that half of the journey involves shining a light on the fear, and with understanding comes an ability to work through that fear. So …
Why selecting an Outsourcing Guru is critical for Australian compliance outsourcing
With the massive influx of offshore firms now providing outsourcing and offshoring (i.e. labour hire), there is the temptation for Australian accounting firms to go cheap. What usually ends up as a cost comparison exercise normally ends up as a costly exercise. In this blog we look at why selecting an Outsourcing leader is critical for Australian compliance outsourcing. There …
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 …
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. …
Australian compliance: Automation and unemployment increasingly likely
During the Australian Christmas break we thought we’d reach out into some holiday reading. “Inventing the Future: Postcapitalism and a World Without Work” by Nick Srnicek and Alex Williams, touches on some interesting concepts, which are particularly relevant if the apocalyptical end of compliance is even half way true. In this book, Nick and Alex put forward that Automation and …
An Australian Accounting perspective on Outsourcing
As outsourcing gains momentum in Australian accounting firms, there still continues to be a dearth of independent research on the use and success of outsourcing. Of particular concern is the scarcity of research into human resource issues through outsourcing. This is compounded by the complexity of the different models of outsourcing domestically and offshore, along with different ownership models adopted …
Offshore labour firms are not your friends
As the Philippines market matures, we’re seeing that the offshore labour model continues to challenge Australian accountants in terms of actual productivity benefits. The dominant offshore model is still the offshore outsourcing model, where the risk and responsibility is fully transferred to an overseas provider. But at the moment, we’re seeing massive competition amongst the offshore labour providers, and the …
Offshore labour hire does it tough
It’s fast becoming more competitive in the Philippines, and we’ve heard that as the market matures there are more risks that staff are jumping from one provider to another. Perhaps a sign that the market is starting to see unsustainable growth is a recent comment from an Australian accountant who mentioned it now takes 3 months for a “Labour hire” …
