01

Oct 2020

The-big-upheaval-Australian-accounting-Compliance-moves-to-the-country

The big upheaval: Australian accounting Compliance moves to the country

By: Odyssey Outsourcing
Tags: ad hoc, Australian compliance, Outsourcing, Remote working, WORKING FROM HOME

Regional housing markets are experiencing growth due to movement from the cities to the regional areas. The impacts of “working from home” arrangements are going to be massive. Not only is commercial and retail space in the CBD’s going to be severely affected, the flow on to supporting services will also be affected. Instead of 20 coffee shops per km …

24

Sep 2020

Rolling-the-dice-with-offshore-labour.-What-if-they-don’t-work-out-after-2-years

Rolling the dice with offshore labour. What if they don’t work out after 2 years

By: Odyssey Outsourcing
Tags: ad-hoc model, offshore labour, Outsourcing, SMSF, Training

We were recently contacted by an Australian accounting firm that had gone down the low cost approach of hiring an offshore employee, then letting her go after 2 years training. At the time she was considering Odyssey versus a number of other providers, the big issue in her mind was to save costs, and hire one person that could do …

17

Sep 2020

picking-resource-volumes-to-match-needs-and-demands.png

Successful recipe for Smaller accounting Firms: picking resource volumes to match needs and demands

By: Odyssey Outsourcing
Tags: Accounting firm, Ad hoc jobs, flexible resources, Outsourced Services, SEM

In this slightly difficult and turbulent time, it’s the smaller firms that have already utilised part time flexible resource inputs, that have managed to weather the storm slightly better. And with discussions of Zombie companies in Australia, no accounting firm owner really has a clear idea of how many of their clients are functioning viable entities, and how many will …

10

Sep 2020

offshore-vs-outsource.

Why Offshoring Australian compliance is no panacea for Accounting firms with poor systems and processes

By: Odyssey Outsourcing
Tags: Australian compliance, Fixed offshore model, outsourcery management system, Outsourcing

Offshoring not always profitable Offshoring work overseas (labour hire of offshore staff) frequently misses the practice efficiencies that Accounting firm owners are looking for. In the absence of having the right systems in places to take advantage of an offshore labour force, the back-office tasks performed offshore don’t necessarily have a positive effect on profitability, despite a lower labour cost. …

03

Sep 2020

Coronavirus-Compliance-finding-Your-staff-can-work-from-anywhere-will-the-Australian-exodus-commence

Coronavirus Compliance finding: Your staff can work from anywhere, will the Australian exodus commence?

By: Odyssey Outsourcing
Tags: ACCOUNTANTS, Australian compliance, COVID19, overseas work, work at home

Over the past several months in Australia we’ve seen several things in the Australian compliance area: Australian compliance accountants are equally able to work from home as they are in the office, with little productivity losses. If anything, the time saved in long commutes to and from work has been a blessing. During difficult times, of which we seem to …

27

Aug 2020

The-SMSF-auditor-is-tougher-this-year.

The SMSF auditor is tougher this year. Sorry, not sorry

By: Odyssey Outsourcing, Uncategorised
Tags: ATO, low cost, Outsourcing Best practice, Quality work, SMSF, SMSF auditors

We recently noticed a complaint from one of our accounting firm clients, that the SMSF auditors we were using (we switched to a panel of SMSF auditors) were making things difficult by asking for signed documents from the trustees, pieces of information to prove ownership and valuation, and generally just making the SMSF audit process a lot more difficult, in …

20

Aug 2020

Adhoc-is-winning-this-black-swan-moment.jpg

Why Australian ad-hoc resources flexibility is winning during this black swan moment

By: Odyssey Outsourcing
Tags: Ad hoc resources, Australian compliance, flexibility, offshore

This week we thought we’d share an email that came from a client last week. It’s pretty easy to summarise: Have been using Odyssey for SMSF and larger compliance jobs Hired an offshore staff from the Philippines, but they moved on (in under a year) after being trained Wants a flexible offering, including compliance work and bookkeeping Doesn’t have enough …

13

Aug 2020

Signs-a-tyre-kicker-prospect-has-turned-up-to-your-accounting-compliance-practice

Signs a tyre kicker prospect has turned up to your accounting compliance practice

By: Odyssey Outsourcing
Tags: australian accounting firm, Australian tax compliance, commoditization of compliance, Outsourced Services

The first most important thing about handling potential customers who contact your company is to have a clear idea of the type of company you are, and the type of customer you best serve. This might sound strange, especially for compliance firms which can be frequently mentioned as commoditised, but at the end of the day you are going to …

05

Aug 2020

Australian-tax-and-accounting-compliance-Outsourcing-forecast-to-increase-75-from-2020-to-2022.jpg

Australian tax and accounting compliance Outsourcing forecast to increase 75% from 2020 to 2022

By: Odyssey Outsourcing, Uncategorised
Tags: Australian compliance, commbank, COVID19, Outsourcing, superfund

Commbank released their June 2020 marketing pulse recently. Most interestingly Australian tax and accounting compliance Outsourcing forecast to increase 75% from 2020 to 2022. As a direct result of their coronavirus experience, 21% of firms responded that they would increase their use of contractors and outsourcing. Many firms had invested in cloud technology and made the transition to working from …

30

Jul 2020

Which-outsourcing-model-can-work-best-for-your-business.jpg

Australian Accounting firm: Which outsourcing model can work best for your business?

By: Odyssey Outsourcing
Tags: ad-hoc model, australian accounting, Australian compliance, Fixed offshore model, Outsourcing models

Outsourcing your Australian compliance work to overseas is an important undertaking. If done properly, it can greatly improve the way you do accounting business and give you a more competitive advantage. With the time, money, and resources you will invest, you need to ensure that you get your money’s worth. Let’s quick go through the checklist below to choose the …