11

Mar 2021

APES 305 Disclosure accounting outsourcing

Are you ready to disclose your Australian accounting outsourcing: 1 July 2021 APES305

By: Odyssey Legislation
Tags: apes 305, australian accounting, Disclosure, Outsourcing, terms of engagement

APES 305 sets the standards in respect of Terms of Engagement for Members in Public Practice in the provision of quality and ethical Professional Services to Clients. In December 2020 a revised APES 305 was released with a mandatory requirement, effective 1 July 2021, to disclose material outsourcing. In section 3.6 Where a Member in Public Practice will utilise Outsourced …

03

Dec 2020

The-5-top-reasons-why-“Outsourced”-Remote-staff-are-outperforming-local-office-workers.jpg

Top 5 reasons why “Outsourced” Remote staff are outperforming local office workers

By: Odyssey Outsourcing
Tags: Australian Accountant, australian accounting, Australian compliance, Data security, Fixed offshore model, offshore labour, Outsourced Services, Outsourcing, Overseas outsourcing

In a recent Harvard Business Review report the number of people who say they can’t concentrate at their desk has increased by 16% since 2008, and the number of those who don’t have access to quiet places to do focused work is up by 13%. Office space design today seems to come with noises and other distractions that break concentration or inhibit …

29

Oct 2020

The-top-3-focal-points-for-Australian-accounting-firms.jpg

The top 3 focal points for Australian accounting firms in the current COVID environment

By: Odyssey Outsourcing
Tags: Ad hoc jobs, cybersecurity, Outsourcing, Remote working

The coronavirus pandemic continues to impact Australian accounting firms at several levels including technology adaptation, staffing issues, customer issues, online training, and scammers adopting to a new scams in a Covid reduced travel world. Working from anywhere has opened up Australian accounting outsourcing to overseas destinations, making this more relevant than ever before! If your firm is using work from …

01

Oct 2020

The-big-upheaval-Australian-accounting-Compliance-moves-to-the-country

The big upheaval: Australian accounting Compliance moves to the country

By: Odyssey Outsourcing
Tags: ad hoc, Australian compliance, Outsourcing, Remote working, WORKING FROM HOME

Regional housing markets are experiencing growth due to movement from the cities to the regional areas. The impacts of “working from home” arrangements are going to be massive. Not only is commercial and retail space in the CBD’s going to be severely affected, the flow on to supporting services will also be affected. Instead of 20 coffee shops per km …

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 …

10

Sep 2020

offshore-vs-outsource.

Why Offshoring Australian compliance is no panacea for Accounting firms with poor systems and processes

By: Odyssey Outsourcing
Tags: Australian compliance, Fixed offshore model, outsourcery management system, Outsourcing

Offshoring not always profitable Offshoring work overseas (labour hire of offshore staff) frequently misses the practice efficiencies that Accounting firm owners are looking for. In the absence of having the right systems in places to take advantage of an offshore labour force, the back-office tasks performed offshore don’t necessarily have a positive effect on profitability, despite a lower labour cost. …

05

Aug 2020

Australian-tax-and-accounting-compliance-Outsourcing-forecast-to-increase-75-from-2020-to-2022.jpg

Australian tax and accounting compliance Outsourcing forecast to increase 75% from 2020 to 2022

By: Odyssey Outsourcing, Uncategorised
Tags: Australian compliance, commbank, COVID19, Outsourcing, superfund

Commbank released their June 2020 marketing pulse recently. Most interestingly Australian tax and accounting compliance Outsourcing forecast to increase 75% from 2020 to 2022. As a direct result of their coronavirus experience, 21% of firms responded that they would increase their use of contractors and outsourcing. Many firms had invested in cloud technology and made the transition to working from …

20

Feb 2020

Australian Accounting Firms: Do you tell your clients about the value they receive from your Outsourcing Partner?

By: Odyssey Outsourcing
Tags: accounting, australian, clients, compliance, fear, Outsourcing, Vietnam

While outsourcing bookkeeping, accounting, and compliance jobs has become a common trend for Australian accounting firms, there’s always a different reason for which you are outsourcing. Maybe you’re short on in-house resources, maybe you don’t have enough staff for some rush periods, and you could need outsourcing to catch your deadlines. You could also be outsourcing if you want to …

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 …

23

Jan 2020

Gen-Z-Accountants-What-are-the-challenges-for-Australian-employers-in-accounting-industry.jpg

Gen Z Accountants: What are the challenges for Australian employers in accounting industry?

By: Odyssey Outsourcing
Tags: ACCOUNTANTS, Accounting Firms, GEN Z, Outsourcing, RECRUITMENT

The entering of Gen Z into the workforce is changing the way the world turns, and that means Australian accounting firms and employers in the accounting industry are putting their focus on this young generation to recruit and retain top talent. However, Australian accounting firms may face many challenges in recruiting and training Gen Z accountants. Attracting and recruiting accounting …