22

Aug 2019

odyssey-australian-tax-outsourcing

Odyssey’s Australian tax outsourcing – 15 years, and the change continues

By: Odyssey Outsourcing
Tags: Australian tax, Odyssey Resources, Outsourcing

As we come up to our 15th year in providing Australian tax, accounting and bookkeeping services to Australian clients, we thought we’d grab a photo of one of the awards nominations we had from back in 2007, when outsourcing was very new, and regarded as a business innovation. One thing is for sure, what is new and exciting one year, …

15

Aug 2019

smsf-outsourcing

Accounting firms: How to effectively Outsource your SMSF work

By: Odyssey Outsourcing
Tags: ad-hoc model, capacity, gig economy, SMSF outsourcing

Need to know the who, what, when, where and why of outsourcing your compliance work. But first, here’s the maths behind the argument that full time SMSF compliance workers don’t work, either locally or foreign hired. Australian accounting firm owners know that tax returns arrive in individual jobs, and at the same time the resources needed to be hired to …

08

Aug 2019

why-the-hourly-partner-recovery-rate-isnt-making-any-sense

Why the hourly partner recovery rate isn’t making any sense

By: Odyssey Outsourcing
Tags: flog, partner, recovery rate, super star

I see a lot of coaches for Australian accounting business owners, and they’re comparing stats amongst firms with various partner levels and employee levels, and they invariably have some maths that leaves me scratching my head. For instance, take the total revenue and divide that by the number of chargeable partner hours per partner, in order to get an actual …

25

Jul 2019

business-owners-have-it-wrong

Accounting business owners model is all wrong. Why hiring full time staff isn’t making sense in the using economy

By: Odyssey Outsourcing
Tags: accounting, Outsourcing, SMSF outsourcing

This week we’re looking at the full time employment model, which is the model most people are probably used to. You know, the one where you grow up, maybe go to uni (or take on a cadetship while you study), then graduate and get a job. And that job is a full time gig. 40 hours a week plus or …

11

Jul 2019

why-micromanaging-is-wrecking-your-australian-accounting-firm

Why micromanaging is wrecking your Australian accounting firm

By: Odyssey Outsourcing
Tags: Australian Accountant, micromanagement, Outsourcing

This week we’re talking about micromanagement by Australian accounting firm owners.  We’ve all read the negatives associated with micromanagement, which is, for Australian accounting firms, one step removed from doing the work yourself. There are still plenty of Australian accounting firm owners who love nothing more than getting on the tools and getting out a tax return. And there’s plenty …

04

Jul 2019

the-top-5-regrets-when-your-accounting-career-is-over-hint-they-arent-what-you-think

The top 5 regrets when your accounting career is over. Hint: They aren’t what you think

By: Odyssey General
Tags: Outsourcing, preparing for retirement, work life balance

Though it’s been around for a while, we frequently see on the social media the “The Top 5 Regrets Of The Dying”, and no, we aren’t talking this week about the death of compliance. We’re talking this week about the ability to stop for a moment in our day, not put our heads down and start at our iPhones, and …

27

Jun 2019

how-to-evaluate-outcomes-of-using-the-outsourcing-service-provider

How to evaluate outcomes of using the Outsourcing Service Provider

By: Odyssey Outsourcing
Tags: Outsourcing

Following the post-implementation review step, you should now evaluate the outcomes of the project to decide your next move in outsourcing. Whether the outsource agreement should be renewed, transferred or exited depends on how you identify the achieved outcomes. You should answer 4 questions below: What was the rate of productivity improvement? Did the transition meet expectations? Were staff time …

20

Jun 2019

true-cost-of-outsourcing-to-the-philippines

True cost of outsourcing to the Philippines

By: Odyssey Outsourcing
Tags: ad-hoc model, Australian compliance, outsourcing vs offshore labour hire

If you have considered engaging offshore labourers, you have probably wondered about the real cost savings your practice can make. Offshore labour firms like to push percentages of savings, comparing expensive Australian workers and cheaper offshore labourers, citing 50%, 60%, 70% savings! Over here at Odyssey, we thought we’d run through what our clients have been telling us about some …