There has been a lot of movement into bookkeeping by Australian accounting firms, and this has been well documented in the past year.
As compliance moves into the cloud and is automated, it is now more critical that Australian accountants extend their influence and ability into areas of current concern, where their role of trusted adviser can best be utilized.
This means Australian accounting firms need to have their finger on the pulse of what is happening in their clients businesses “in real time”, and hence there is a growing movement to bringing bookkeeping back in-house.
Among the top 10 reasons why Bookkeeping outsourcing is critical for Australian accounting firms:
- Bookkeeping allows Australian accountants to offer real-time advice to their clients. Outsourcing the bookkeeping allows you to push low value work out to a competent firm, instead of managing low value work using internal (and expensive) managers
- Engaging external experts allows you to have efficiency in low value work.
- Outsourcing on an ad-hoc basis allows you to grow and shrink your bookkeeping offerings, without having to work in fixed unit full time / part time resources
- Outsourcing pushes labour issues over to the outsourced provider
- A bad bookkeeper can ruin your business, and usually it takes some time to work out there is a problem. Fixing the problem can take a lot more hours. A good outsourcing company not only takes on these risks, but mitigates these risks.
- Outsourcing bookkeeping allows you to focus on your clients, and not BAS’s (we’ve heard this an unbelievable amount of times!)
- Bookkeeping is a tedious task, and not something local employees particularly aspire to perform. It’s better to outsource the work to a professional outsourcing company
- An outsourced bookkeeping task to a professional offshore firm will result in a lower risk of fraud/complicity.
- Use of a high quality outsourcing provider gives your Accounting business a better reputation. Continually making deadlines gives confidence that your business is running smoothly. This leads to confidence in your services.
- It just makes good business sense!
Drop us a line if you are interested in discussing how Odyssey can assist your bookkeeping in an ad-hoc or through a dedicated resource.