I was looking through one of my social media feeds recently, and saw in the news feed a comment from a frustrated IT person, who was obviously receiving far too much email spam (like that never happens to anyone in real life right?), and somewhat frustratedly had jumped onto social media to indicate they could code and had no need …
Outsourcing: the importance of understanding where you work
While travelling around we recently spotted a sign nearby a water drinking source. At first glance the sign appears totally in order, both in the original language, and in the translated English. However, native English speakers would likely note that “All sorts of pollution is banned” does not quite resolve the problem. Indeed “All Sorts” is not fully exclusive or …
Australian tax compliance outsourcing: The Odyssey Outsourcing model versus Offshoring to the Philippines
Odyssey Outsourcing specialists have been providing Australian Outsourced accounting, bookkeeping and tax services since 2006. As you’d expect, over the past 15 years we’ve seen a lot of water under the bridge. Mobile phones have arrived, the internet speeds and reliability have increased, and the cloud is now a part of many Australian accountants lives. The cloud affects not only …
Odyssey’s Australian tax outsourcing – 15 years, and the change continues
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, …
Accounting firms: How to effectively Outsource your SMSF work
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 …
Why the hourly partner recovery rate isn’t making any sense
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 …
Issues to Consider in Backsourcing Services
Earlier in this series, we discussed the options available to the client when an outsourcing project is done. Among those, transition the service back in-house poses as a challenge due to the lack of capacity and expertise of the in-house staff who may have not performed the service for quite a bit chunk of time. You should review and follow …
Accounting business owners model is all wrong. Why hiring full time staff isn’t making sense in the using economy
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 …
Why micromanaging is wrecking your Australian accounting firm
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 …
How to evaluate outcomes of using the Outsourcing Service Provider
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 …
