In the past few years, the outsourced accounting industry has kept bringing a lot of values to Australian accounting firms. More and more accounting firms have begun to outsource much more complex jobs not only bookkeeping or data entry, but also tax return, SMSFs, etc. What are the major factors that have driven the high demands of outsourced services in …
Walls closing in
Accenture recently announced a shedding of significant staff, where the last shedding was almost 17 years ago. What’s interesting about this is that a week ago the firm Deloitte announced it is set to dissolve one of its six business units, Deloitte Private, an advisory arm aimed at small and medium enterprises and high net-worth individuals, and move its partners, …
Have we hit peak cloud ?
Last week I had the chance to speak to an accountant this side of the Nullarbor. A small country town (as you’d expect), for some undisclosed reason he’d move into this two firm town and bought the practice from the previous owner. He did say “if I’d known now what I knew then…” (or something to that effect), but his …
Sometimes you just have to fire a client
Last week we had to let go one of our larger clients, who has been a client for almost 10 years. The issue involved several issues, the main one being we were losing money due to scope creep on the services and an unwillingness to renegotiate based on increased scope of services. Letting clients go is a skill we don’t …
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. …
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 …
Offshoring versus Outsourcing? Why the confusion remains
Our CEO was visiting a client in Canberra the other day, and discussion invariably ended up mentioning the aggressive pursuit by offshore labour providers in the Philippines. The question then had to be asked: why are some firms considering the Philippines labour hire solutions, while other firms are knocking them back and working with Outsourcing offerings. The response was: Offshoring …
Its ok for the 10% of what you love to change over the years
Last week we talked about finding that optimum spot in your working life. Our view is that work (and life) satisfaction comes from spending 90% (or more) doing the 10% that you love, and 10% of your time on the 90% other stuff. There needs to be downtime, but the most benefit in life comes from challenging yourself in the …
Are you doing the 10% you love?
I had a chat with a business owner the other day. In actual fact, he was no longer the business owner. His dad had setup the firm many years ago, and he had inherited the firm as his dad retired. He had worked in the business for several years, and for several more years he ran the business as a …
The fastest accountant in the world
We complete some 50,000 Australian tax, accounting, bookkeeping and sundry compliance jobs annually. It’s interesting when we get a new client, that sometimes they ask about the hours we’re charging. Of course, it’s a great discussion, and allows us to break down what we were doing on the job (we have some excellent inhouse built systems), to explain the process. …
