24

Sep 2020

Rolling-the-dice-with-offshore-labour.-What-if-they-don’t-work-out-after-2-years

Rolling the dice with offshore labour. What if they don’t work out after 2 years

By: Odyssey Outsourcing
Tags: ad-hoc model, offshore labour, Outsourcing, SMSF, Training

We were recently contacted by an Australian accounting firm that had gone down the low cost approach of hiring an offshore employee, then letting her go after 2 years training. At the time she was considering Odyssey versus a number of other providers, the big issue in her mind was to save costs, and hire one person that could do …

28

May 2020

Remote-workers-Pulling-the-plug-and-impacts-on-profitability

Remote workers: Pulling the plug and impacts on profitability

By: Odyssey Outsourcing
Tags: ad-hoc model, Australian tax compliance, forex risk, offshore labour, Outsourced offshore

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 …

31

Jan 2020

Let’s-look-inside-the-current-Australian-accounting-compliance-Bots-and-the-hidden-offshore-processing-behind-the-scenes

Let’s look inside the current Australian accounting compliance Bots and the hidden offshore processing behind the scenes!

By: Odyssey Outsourcing
Tags: Accounting Firms, Australian bookkeeping, Bots, compliance, offshore labour

With the rise of automation and AI in the Accounting industry, many accounting firms invest in cloud software packages. Cloud bookkeeping is becoming a standard for many businesses enabling them access to accounting information and management reports in real time. Indeed, AI / automation are the keys providing the processing speed that is required for the “real time” promise. But …

28

Feb 2019

Those that can

Those that can, Outsource. Those that can’t, Offshore.

By: Odyssey Outsourcing
Tags: offshore, offshore labour, Outsourced Services

This week we thought we’d clarify more about the differences between Outsource Service providers and their poor cousin, the Offshore service providers. Those who understand Compliance work, create Outsourcing companies Those that can’t, create offshore companies The Outsource services providers, such as Odyssey, are usually owned and operated by Australian accountants. The better firms are operated by Australian accountants who …

13

Dec 2018

accounting outsourcing best practice

Australian Accounting Outsourcing Best Practice: why Outsourcing is the game changer.

By: Odyssey Outsourcing
Tags: game changer, offshore labour, Outsourcing Best practice

We’ve found some accounting firms headed over to the Philippines in search of additional resources, and thought it might be time to mention a few interesting facts. The offshore labour force is really an extension of your own office, but with labour issues occurring remotely. Most older style accountants still struggle with the new business model: don’t own your clients, …

22

Mar 2018

offshore-workers-not-equal

Offshore workers not equal: the importance of a good due diligence.

By: Odyssey Outsourcing
Tags: due diligence, employee benefits, offshore labour, Outsourcing

More recently we’ve been blogging about the desire of offshore labour providers (offshoring) to have above market remuneration and conditions, which allows them to pass on the (hidden) cost of these conditions to the client, usually the Australian accounting firm. We were recently exchanging communication with an offshore services provider in the Philippines recently related to our blog on Offshore labour …

15

Mar 2018

Do Offshore BPO workers have the last laugh?

Do Offshore BPO workers have the last laugh?

By: Odyssey Outsourcing
Tags: Career growth, offshore labour, Salary, Training

We were reading some reviews the other day of some of the Offshore workers comments on various review sites. Sites such as glassdoor.com, indeed.com or jobstreet.com can give some excellent reviews not only of the working conditions in the company, but also whether employees think they are getting a fair deal. The “fair deal” includes not only remuneration, but the …

21

Dec 2017

Offshore labour firms are not your friends

Offshore labour firms are not your friends

By: Odyssey Outsourcing
Tags: hidden fees, offshore labour, Philippines

As the Philippines market matures, we’re seeing that the offshore labour model continues to challenge Australian accountants in terms of actual productivity benefits. The dominant offshore model is still the offshore outsourcing model, where the risk and responsibility is fully transferred to an overseas provider. But at the moment, we’re seeing massive competition amongst the offshore labour providers, and the …

02

Mar 2016

Offshoring: Pursuing a more efficient frontier

By: Odyssey Odyssey in the Press
Tags: Odyssey, offshore labour, Offshoring, Outsourced Services, Outsourcing

Constant pressure on the bottom line and a desire to do more with less have resulted in a number of SMSF businesses investigating offshoring opportunities as a viable way to cut costs, improve efficiency and increase their profit margins. Odyssey Resources which started a decade ago and is the largest offshore services provider to Australia, now has around 250 staff …