11

Jun 2020

Do 12 hour working days do anything more than blunt the edge?

Australian tax compliance: Do 12 hour working days do anything more than blunt the edge?

By: Odyssey Outsourcing
Tags: Accounting Firms, ad-hoc model, Australian compliance, Outsourced Services, work life balance

There was a large accounting firm interviewing one of their junior partners the other day, and we were struck by the antique nature of the partner business model. Do your time, work hard, work up the ladder, and make it to partner. The female junior partner had taken 15 years to make it to partner level. “Fast Track”. As the …

16

Apr 2020

Accounting Compliance firms valuation drops in the face of SME closures

By: Odyssey Outsourcing
Tags: Accounting Firms, Australian compliance, COVID19, systemisation, valuation

I was speaking to an accountant who has a business assisting accounting firms get their practices ready for sale, usually when they are retiring. He assists both buyers and sellers. Basically the premise of valuation of an accounting firm is a multiple of the annual revenue, with individual returns having a lower multiple than other “stickier” clients. There’s a lot …

02

Apr 2020

Australian-Tax-Compliance-offshore-Cracks-in-the-offshore-full-time-labour-model

Australian Tax Compliance offshore: Cracks in the offshore full time labour model

By: Odyssey Outsourcing
Tags: Ad hoc resources, Australian compliance, Cost Savings, Fixed offshore model, Future for offshoring

Australian accountants are looking to a 6-12 month business slowdown, and possibly longer, and are starting to cut fixed costs. Those fixed costs which can easily be released are the offshore full time labour force, which usually require 1-3 months notification to let the staff be returned to the offshore labour firm. Those firms will still need resources for ad-hoc …

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 …

27

Feb 2020

Design-Metrics-to-Measure-your-Australian-Accounting-Outsourcing-Performance

Design Metrics to Measure your Australian Accounting Outsourcing Performance

By: Odyssey Outsourcing
Tags: Accounting Firms, Australian compliance, Management Accounting, Outsourced Services, OUTSOURCING PERFORMANCE

When outsourcing accounting work to overseas has become a trend to many Australian accounting firms, measuring your outsourcing partner’s performance is important for your firm growth and to optimize the outsourcing benefits. In a previous article, we talked about the Guidelines to choose the right outsourcing partner. Metrics are useful for decision-making. Let’s design the metrics (Key Performance Indicators) to …

16

Jan 2020

Automation-in-Australian-Outsourcing-Accounting-Risks-or-Opportunities-2

Automation in Australian Accounting: Risks or Opportunities?

By: Odyssey Uncategorised
Tags: Accounting Firms, Australian compliance, Automation, Cloud software, Outsourcing

Automation has been threatening thousands to millions of jobs with obsolescence, and accounting jobs are supposedly at the top of list. Indeed, there is no surprise here that accounting automation truly makes productivity improvements in Australian compliance services. Accounting software that automate processes have taken over many back-office functions in accounting services. Hence; Australian accounting firms who were charging their …

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. …

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 …

21

Nov 2019

walls-closing-in

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, …

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 …