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 …

05

Mar 2020

Take-a-look-at-the-Work-life-balance-inside-the-market-leader-of-outsourcing-for-Australian-Accounting-Firms.

Take a look at the Work-life balance inside the market leader of outsourcing for Australian Accounting Firms

By: Odyssey Outsourcing
Tags: australian accounting, Australian compliance, Outsourced offshore, work life balance

Many people who start their Australian accounting business have chosen outsourcing because they want freedom. It might be freedom to make decisions or freedom around their time and choosing where and when they work. There is a temptation to do everything yourself, often because you feel the need to control everything. Eventually though, you realise you are better off hiring …

13

Feb 2020

Process-Standardization-In-Outsourcing-Australian-Compliances-the-key-success-of-a-BPO-service-provider.

Process Standardization In Outsourcing Australian Compliance: the key success of a BPO service provider

By: Odyssey Outsourcing
Tags: australian accounting, BPO, Compliance Work, SMSF, standardization

Imagine if your offshore staff had no set guidelines for handling a compliance job. It would be like you picked up randomly some people from the street, sat them down at the helpdesk, and expected them to complete the job well. Every BPO provider for Australian accounting usually work on tons of compliance jobs, and need to finish them smoothly …

06

Feb 2020

Guidelines-to-qualify-BPO-service-provider-for-Australian-Accounting-firms

Guidelines to qualify BPO service providers for Australian Accounting firms

By: Odyssey Outsourcing
Tags: australian accounting, BPO, Compliance Work, Outsourcing, systemisation

There is no doubt that outsourcing has become the mainstream for Australian accounting firms to achieve high performance and productivity for their services at lower costs. Searching for a qualified outsourcing partners for your accounting business requires a big effort. Let us show you a quick start guide of what to look at when selecting BPO service providers. How long …

09

Jan 2020

Commoditisation in Australian outsourcing accounting services: Only the strongest systems can survive

Commoditisation in Australian Outsourcing Accounting Services: Only the Strongest Systems Can Survive

By: Odyssey Outsourcing
Tags: australian accounting, Automation, commoditization of compliance, Outsourcing, systemisation

Whether you’ve joined the movement or not, it’s no doubt that the Australian tax and accounting industry keeps moving into more automation. As a result, there are surely big box accounting services providers that have “commoditised” their basic set of services such as bookkeeping, superannuation and taxes. Small and large businesses can find these services from a variety of providers.  …

26

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 2 of 2 – Systemisation and Data Security

By: Odyssey Outsourcing
Tags: australian accounting, Data security, outsourcery management system, Outsourcing, systemisation

Prior to checking this post out, this week blog will keep identifying the main factors that Australian Accounting firms should consider when choosing a right outsourcing partner. Systemisation in Australian accounting outsourcing operation In the outsourcing accounting industry, technology plays an important part to help collaboration across borders with language or time zone difference and leads to higher productivity and …

12

Dec 2019

Australian Accounting Revolutio-Free your team up for better advisory services

Australian Accounting Revolution: Free your team up for better advisory services

By: Odyssey Outsourcing
Tags: ACCOUNTING ADVISORY, australian accounting, Australian compliance, Outsourced Services, tax services

In the recent years, the Australian accounting industry has been experiencing a significant movement from accounting compliance to accounting advisory. Nowadays, Australian SMEs are not only looking for an accounting firm that can help them on compliance work. Yet they also need a true advisor who can give them strategic guidance in financial reporting and taking better decisions for their …

05

Dec 2019

Australian Accountants A Bigger Plan for your Accounting firm in the Upcoming Era of Automation

Australian Accountants: A Bigger Plan for your Accounting firm in the Upcoming Era of Automation

By: Odyssey Outsourcing
Tags: artificial intelligence, australian accounting, Automation, cloud, Outsourcing

The accounting industry has achieved massive cloud penetration and the laggards or those who will never adopt, will be forced to leave the market. Following this market trend, Odyssey has been converting into the cloud since 2013 and kept upgrading our system to maximize our services efficiency. Many Australian accounting firms are willing to pay more for their bookkeeping platforms …

28

Nov 2019

how-outsourcing-services-bring-value-to-australian-accounting-firms

How Outsourcing Services Bring Value to Australian Accounting Firms

By: Odyssey Outsourcing
Tags: australian accounting, Australian bookkeeping, Cloud computing, cybersecurity, Outsourcing

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 …