17

Aug 2017

Why Value Based billing isn’t dominating in Australian Accounting Compliance

By: Odyssey Outsourcing
Tags: compliance work commoditization, Timesheets, value based billing, value pricing

For anyone who has been in the Australian accounting compliance arena for any length of time, the argument for “Value Based Billing” (VBB) is an ongoing Holy Grail.  For some who have eliminated timesheets and moved to Value based billing the proof seems to be there, but for the majority of accountants we don’t see a stampeded to VBB. Somewhere …

06

Jul 2017

How Australian accounting firm owners can semi-retire with lower risk…

By: Odyssey Outsourcing
Tags: Client comments, Offshoring, Outsourced Services

I received a message from an Australian accountant the other day. The message went something like this: Hi David, Just some feedback from my Partner in business (an old school hardworking now moving to retiring not the easiest lady to impress). You made it easy the questions that came back were of calibre and clearly indicated that you had certainly …

15

Jun 2017

Why bringing your outsourced work back inhouse often isn’t seamless…

By: Odyssey Outsourcing
Tags: Ad hoc work, compliance, Full time resources, Outsourcing models, Overseas outsourcing

An ex client of Odyssey reached out to me last week, and wrote the following: Dear David, It has been some time since I have made contact. I was wondering if we could touch base. We used Odyssey for the majority for SMSF clients in the 2016 year, approximately 40-50 funds. Most of these were handled by our senior accountant …

18

May 2017

Australian Compliance, Outsourcing

Is a black swan event just around the corner for Australian compliance?

By: Odyssey Outsourcing
Tags: Australian compliance, compliance, offshore

With Mother’s Day just past there has been some interesting online discussion about the commoditisation of the florist industry. There are many similarities to the “Commoditisation of Compliance”. We are all familiar with Airbnb, Uber and the other connectors in the industry, and their margins are well known. Airbnb offers a more unique product while Uber offers a transport which …

11

May 2017

The Ethical dilemma of offshore providers supporting non registered tax agents

By: Odyssey Outsourcing
Tags: ethics, Overseas outsourcing, tax outsourcing

Had an interesting phone call today. Odyssey was called by an Australian accountant who was wholesaling to other Australian accountants.  The conversation progressed well and they were impressed by our business model, pricing and reputation for quality. They particularly liked our ad hoc approach to receiving jobs. Afterwards as we moved towards preparing a services agreement for them we ran …

09

Mar 2017

The future is online (and offshore) for Australian Compliance…

By: Odyssey Outsourcing
Tags: compliance, Disruption, programming

There was an interesting article in the Australian online news recently that a few years ago would have been scoffed at without further thought. The article was titled: “Is coding the blue collar job of the future?” and suggested that using the analogy of the building industry, we not only need architects and engineers and designers but also a lot of …

02

Mar 2017

Are we irrevocably losing Compliance skills in Australia?…

By: Odyssey Outsourcing
Tags: Automation, compliance, job loss, Offshoring, Outsourcing

I had a chat with a firm the other day that was resisting outsourcing and going to keep hiring local staff, on the pretext that managers of the future had always come from within the ranks. Late last year we blogged about the possible trend to bring the jobs back home as a result of changes in the Australian political climate. …

23

Feb 2017

Increasing your firms capacity: Outsourcing versus Employee Leasing

By: Odyssey Outsourcing
Tags: Australian tax compliance, BPO, Offshoring, Seat Leasing

Whilst the header on our blog this week mentions Outsourcing versus Employee Leasing, we should mention a third option being “DIY outsourcing”. So there are three options accountants may consider when looking at increasing Australian bookkeeping/accounting/tax compliance capacity within their firm. Business Processing Operation (BPO) Employee Leasing, sometimes referred to as Seat Leasing “Do it yourself” leasing BPO generally allows …

16

Feb 2017

Tax Agents still upset at outsourcing work overseas

By: Odyssey Outsourcing
Tags: commoditization of compliance, Data security, Offshoring, Outsourcing

In a recent posting on the IPA website, titled: “Tax agent hits out at outsourcing work”, there was plenty of online comments from the Australian accounting community, proving the matter of outsourcing and offshoring is raising considerable angst and anger amongst Australian accountants. The article leads with an Australian tax agent indicating that outsourcing work presents an “unfair advantage” over …