25

Jun 2020

Firing clients the right way

Australian accounting firms: Firing clients the right way

By: Odyssey Outsourcing
Tags: Accounting Firms, ad-hoc model, Australian Accountant, Compliance Work, profitability

We’ve all seen the silos of different client types: Type A – clients you love working with and are highly profitable, the kind of clients you’d go on holiday with.. Type B – clients you like working with and are profitable Type C – clients that are ok and you make some profit Type D – clients that cost you …

18

Jun 2020

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Zoomed out: Is digital signing and digital meetings eroding the relationship between clients?

By: Odyssey Outsourcing
Tags: Australian Accountant, Australian tax compliance, Digital, post-pandemic

COVID-19 has displaced workforces in Australia, more so in the more heavily populated capital and major cities of Australia. This has meant the rapid evolution and deployment of the new age of digital platforms supporting online collaboration. At the same time, there is a thinning of the traditional hierarchy of accounting firms, through disintermediation of the organisation. Timesheets are disappearing …

14

May 2020

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Australian accounting outsourcing: Is the genie out of the bottle?

By: Odyssey Outsourcing
Tags: artificial intelligence, Australian Accountant, Bots, Cloud Accounting, offshore, OUTSOURCING PERFORMANCE

We’re already seeing some interesting changes in the Australian medical profession recently. More doctors are doing online consultations, and it’s a new strange world. Are we one step away from allowing foreign doctors handle online consultations. There are already specialists in offshore places analysing x-rays and various reports. How far away are we from a computerised system that can handle …

07

May 2020

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Australian accounting tax Outsourcing: ” The bitterness of poor quality remains long after the sweetness of low price is forgotten”

By: Odyssey Outsourcing
Tags: Australian Accountant, Compliance Work, Outsourcing potential risk, Price, Quality

More than ever Australian accounting firms are looking at utilizing offshore resources to assist with their compliance work, and in this unsure age where the SME client numbers are unstable, more Australian accounting firm owners are looking to ad-hoc resource suppliers, just in case the workload increases significantly beyond inhouse capacity. At the same time, the complexity of the recent …

30

Apr 2020

Australian tax specialists: Remote learning options coming to the fore

By: Odyssey Outsourcing
Tags: ACCOUNTING CONFERENCE, Australian Accountant, compliance, REMOTE LEARNING, THE AUSTRALIAN TPB

With many Australian accountants being under restricted movements, the requirements for professional learning haven’t ceased. At the same time, with social distancing rules in place across much of Australia, the bottom has fallen out of physical conferences, as well as the opportunity for many suppliers to get their services or products in front of Australian accountants. Hence there is a …

23

Apr 2020

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Australian accountants: Are you working as best as you can in remote mode?

By: Odyssey Outsourcing
Tags: Accounting Firms, Ad hoc work, Australian Accountant, Compliance Work, WORKING FROM HOME

We’re seeing and hearing from our clients that some of them have been taken by surprise by the recent and quick move to lock down in Australia. Despite providing pretty much the same compliance services to the public, remote work for firms has been a huge range from “not a problem” to “very difficult”. For more progressive firm owners who …

09

Apr 2020

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Australian SMSF auditors: including the extra Coronavirus Disease (COVID-19) Notification

By: Odyssey General
Tags: Australian Accountant, COVID19, SMSF, SMSF audit, SMSF auditors

With the longer term impact of COVID-19 as yet one of the unknowns, there has been recent news regarding disclosure requirements for SMSF trustees who have not yet completed their 2019 financial year accounts. We’ve seen some recommendations related to the need to disclose the pandemic as a significant event in the “Events subsequent to Balance Date”. Accountants should be …

02

Jan 2020

Odyssey Accountants 2020 – Celebrate the Past and Create the Future

Odyssey Accountants 2020 – Celebrate the Past and Create the Future

By: Odyssey Outsourcing
Tags: Australian Accountant, Australian compliance, Australian tax compliance outsourcing, new year, Outsourcing

During the past 10 years, it’s quite a decade of Odyssey. We had experienced our strong growth from the pioneer to become the market leader in outsourcing for Australian accounting firms. The achievements of Odyssey are the results of the companion of our clients and employees during this 10–year milestone. And we would like to express our thankfulness to all. …

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 …

21

Nov 2019

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Walls closing in

By: Odyssey Outsourcing
Tags: Advisory consulting, Australian Accountant, Australian compliance, Outsourcing

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, …