Are you too busy? We recently received a comment from a client that pretty much summed up everything good about outsourcing your compliance work. Odyssey believes that Australian SME businesses are best served when Australian accounting firms are providing additional work outside the compliance space. And with a never ending raft of new tax laws, guidance notes, practice notes and …
Signs a tyre kicker prospect has turned up to your accounting compliance practice
The first most important thing about handling potential customers who contact your company is to have a clear idea of the type of company you are, and the type of customer you best serve. This might sound strange, especially for compliance firms which can be frequently mentioned as commoditised, but at the end of the day you are going to …
Zoomed out: Is digital signing and digital meetings eroding the relationship between clients?
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 …
Remote workers: Pulling the plug and impacts on profitability
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 …
The fastest accountant in the world
We complete some 50,000 Australian tax, accounting, bookkeeping and sundry compliance jobs annually. It’s interesting when we get a new client, that sometimes they ask about the hours we’re charging. Of course, it’s a great discussion, and allows us to break down what we were doing on the job (we have some excellent inhouse built systems), to explain the process. …
Stop emailing me with offers of resources: I can code, and so can my staff
I was looking through one of my social media feeds recently, and saw in the news feed a comment from a frustrated IT person, who was obviously receiving far too much email spam (like that never happens to anyone in real life right?), and somewhat frustratedly had jumped onto social media to indicate they could code and had no need …
Outsourcing: the importance of understanding where you work
While travelling around we recently spotted a sign nearby a water drinking source. At first glance the sign appears totally in order, both in the original language, and in the translated English. However, native English speakers would likely note that “All sorts of pollution is banned” does not quite resolve the problem. Indeed “All Sorts” is not fully exclusive or …
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 …
10 Signs Outsourcing is going to help your Australian tax compliance work
Everyone wants to be an entrepreneur, as they have for the last 30 years, but it seems these days that being an entrepreneur has replaced people’s dreams of being a rock star, or was it an astronaut… While not everyone deliberately goes out in life to become the owner of an Australian compliance accounting firm, you end up where you …
Increasing your firms capacity: Outsourcing versus Employee Leasing
Whilst the header on our blog this week mentions Outsourcing versus Employee Leasing, we should mention a third option being “DIY outsourcing”. So there are three options accountants may consider when looking at increasing Australian bookkeeping/accounting/tax compliance capacity within their firm. Business Processing Operation (BPO) Employee Leasing, sometimes referred to as Seat Leasing “Do it yourself” leasing BPO generally allows …