28

May 2020

Remote-workers-Pulling-the-plug-and-impacts-on-profitability

Remote workers: Pulling the plug and impacts on profitability

By: Odyssey Outsourcing
Tags: ad-hoc model, Australian tax compliance, forex risk, offshore labour, Outsourced offshore

We’ve previously touched on risks that offshore labour services providers like to gloss over when selling their “cheap and cheerful” full time labour resources. These risks include pushing the foreign exchange risk back onto the Australian accountant, wherein paying for the actual salary of a full time worker in foreign currency leaves the Australian accounting firm exposed to detrimental movements …

26

Mar 2020

Forex Risks- It’s time for Australian accounting firms with offshore labour resources need to look at the fine print

Forex Risks: It’s time for Australian accounting firms with offshore labour resources to look at the fine print

By: Odyssey Outsourcing
Tags: ad-hoc model, australian accounting, Fixed offshore model, forex risk, Outsourced Services

The Australian dollar is diving down. Australian SME’s need to not only manage supply chains in a difficult time, but also manage the foreign exchange issues. Since the beginning of 2020, many offshore markets such as Vietnam, India and Philippines are observing a big down in foreign exchange rate with Australian dollar. For example, Philippine peso has gone down from …

19

Mar 2020

The Coronavirus challenge: Forget the historical Compliance work, now is the time for Australian accounting firms to be working real-time with their SME clients to support and ensure their survival…!

By: Odyssey Outsourcing
Tags: ad-hoc model, australian accounting, COVID19, Outsourced offshore, REAL-TIME

The world has been scrambling to deal with the outbreak of Coronavirus. Governments are limiting travel and imposing quarantines to curb the spread of the Virus. Conferences and meetings are being cancelled. Key supply chains around the world are disrupted. Many businesses are struggling, releasing staff, or just shuttering their doors. Accounting firms are operating in a difficult environment with …

19

Dec 2019

Key Criteria in Choosing a Right Australian Accounting Outsourcing Partner for your firm

Key Criteria in Choosing a Right Australian Accounting Outsourcing Partner for your firm: Part 1 of 2 – Maximize Your Cost Efficiency

By: Odyssey Outsourcing
Tags: Accounting Firms, ad-hoc model, Australian Accountant, Cost, Outsourcing

During the festive season, many Australian accounting firms will close and thus not work on their compliance jobs. In order to reduce the burden of deadlines after the holiday, Australian accounting firms can choose a better solution: outsourcing. Indeed, most of outsourcing firms in Asia countries like Vietnam still process work during the Christmas and New Year season. However, it …

15

Aug 2019

smsf-outsourcing

Accounting firms: How to effectively Outsource your SMSF work

By: Odyssey Outsourcing
Tags: ad-hoc model, capacity, gig economy, SMSF outsourcing

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 …

20

Jun 2019

true-cost-of-outsourcing-to-the-philippines

True cost of outsourcing to the Philippines

By: Odyssey Outsourcing
Tags: ad-hoc model, Australian compliance, outsourcing vs offshore labour hire

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 …