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 …
Outsourcing work offshore to an Australian tax agent – complying with the Code of Professional Conduct
This week I was listening to the TPB webinars and a recent webinar on “Work related expense claims”. The webinars are a great way to keep up to date with the TPB’s latest initiatives and thinking, while at the same time getting some Continuing Professional Obligations to meet the CPE requirements. The link is here for those interested → TPB …
Are offshoring labour hire services for Australian Compliance just like Cocaine for accountants?
This week I had the opportunity to chat to an Australian accountant, who was talking about his decision to outsource work over to Odyssey. He mentioned that a lot of Australian accounting firms are being sold the opportunity to source a lower cost employee overseas, but on investigation involved a myriad of hidden costs: Recruitment fees of $2,000 to $4,000. …
How to conduct a Post-Implementation Review
When it comes to the management and monitoring stage in the outsourcing, you should conduct a post-implementation review to assess how well the transition went. This is to measure the results of the project, identify key lessons learned and develop an action plan in accordance with the findings. The list of questions below gives you a guideline of what issues …
Toxic inhouse SMSF work culture leads to outsourcing
This week I had the opportunity to chat to a Melbourne accountant, who was talking about his decision to outsource work over to Odyssey. Interestingly, he used the words that he had a “toxic inhouse SMSF work culture”, to which I asked him to explain a little more as this is an unusual word to associate with inhouse employees. The …
Three unknown benefits of Outsourcing Australian compliance work to a Trusted Outsourcing partner with current knowledge of Australian tax laws
Australian outsourced tax preparation outsourcing services can help public accounting firms of all sizes. Particularly, outsourcing allows smaller practices to compete with the same quality as larger firms that have invested more heavily in training/systems/procedures. This week we have a look at three often unknown benefits of outsourcing work to a trusted outsourcing partner Benefit 1: Zero tension regarding Australian …
Quality Australian Tax compliance outsourcing: the shift to review
Australian outsourced tax preparation outsourcing services can help public accounting firms of all sizes. Regardless of size of the Australian accounting firm, a quality outsourced services provider will return high quality work, in an exceptional format, in a timely manner. Today we have a quick look at one area many accounting firms struggle to control: preparing and reviewing quality compliance …
What Should Be Included in an Outsourcing Agreement – Part 2 of 2
Prior to checking this post out, take a recap on the first part related to what should be included in an outsourcing agreement. This post is to present the remaining items as below. Your obligations and those of the OSP Obligations and rights of the parties to the outsourcing agreement Nature of the information to be provided by you and the …
What Should Be Included in an Outsourcing Agreement – Part 1 of 2
The CPA Australia Outsourcing Guide provides a comprehensive checklist of what should be included in an outsourcing agreement. There are 15 main items that should be covered in an outsourcing agreement. This post will present the first 7 items as below Scope and performance of services Detailed description of the type and scope of outsourced services to be provided where a resource …
Is it time to Free your mind, and your staff … from Australian accounting and tax compliance work?
Australian outsourced tax preparation outsourcing services can help public accounting firms of all sizes. Particularly, outsourcing allows smaller practices to compete with the same quality as larger firms that have invested more heavily in training/systems/procedures. While both outsourcing and offshoring offer lower costs, outsourcing provides significant more benefits. Outsourcing allows firms to offer more interesting and varied and challenging work …
