17

Nov 2022

Australian accountants are on notice: workers at home are to be replaced by robots

By: Odyssey Uncategorised
Tags: artificial intelligence, Australian Accountant, Automation, labour shortage, Outsourcing, unemployment

It’s hard to imagine in this never ending climate of tax changes, but there’s a clear vision that some workers are going to be replaced by automation. While frustratingly many of us spend hours on the phone clicking through the many options to get us to a real human, or struggling with the Customs lines on arrival into Australia, it …

20

Oct 2022

The Australian accounting shortage is likely to last 7-10 years

By: Odyssey Uncategorised
Tags: artificial intelligence, Australian Accountant, Automation, labour shortage, Outsourcing, robotics, visas

Australian accounting staff shortages are likely to exist for 5 plus years, and one pundit recently suggested a shortage stretching from 7-10 years. This staff shortage requires accountants to rethink what services they should offer, and which clients they should be servicing. With an ongoing shortage of talent in this space, paying to attract employees and retain the best ones …

08

Oct 2020

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Roadmap for end of compliance: First the BAS, then SMSF, then the remaining tax returns

By: Odyssey Outsourcing
Tags: Australian compliance, Automation, SMSF audit, SMSF outsourcing, tax returns

Bookkeeping BAS’s fully automated A couple of years ago we forecast that bookkeepers and other BAS related compliance areas would be impacted by the automation in bookkeeping, and that in our opinion there would shortly be a BAS button that the SME owner could press to lodge the BAS, thereby removing this valuable revenue stream for bookkeepers/accountants. At the same …

16

Jan 2020

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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 …

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.  …

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 …

21

Feb 2019

End of compliance work-new

End of Compliance work.. Are we there yet?

By: Odyssey General
Tags: Automation

For those that had some holiday reading time over the Christmas break, or even those that are looking at social media, there has been a lot of recent interest in continual improvements in time-saving devices, cloud and automation, as well as AI bots. Somewhere through the noise there is substance to two important undisputable facts for Australian accountants: The future …

04

Jan 2018

Australian compliance: Automation and unemployment increasingly likely

Australian compliance: Automation and unemployment increasingly likely

By: Odyssey Automation
Tags: Automation, future of work, Robots, unemployment

During the Australian Christmas break we thought we’d reach out into some holiday reading. “Inventing the Future: Postcapitalism and a World Without Work” by Nick Srnicek and Alex Williams, touches on some interesting concepts, which are particularly relevant if the apocalyptical end of compliance is even half way true. In this book, Nick and Alex put forward that Automation and …

12

Oct 2017

The future of Australian Tax Compliance… Why Gen Y find it hard to engage

By: Odyssey Automation
Tags: Automation, compliance, employability, Gen Y

With Automation likely to impact compliance in the near future, and offshoring impacting compliance now, this week we look at Gen Y’s engagement with the future of compliance. There has been plenty of discussion about offshoring and automation affecting compliance, and particularly where the new “Middle Managers” will be found in 3-5 years if graduates aren’t being engaged and recruited …