Sep 2023

australian accounting outsourcing client story

Client Story: From Talent Crunch to 5-Year Triumph – Michael & Rosanna, Directors of Australian Accounting Firm, NSW

By: Odyssey Outsourcing

Michael and Rosanna lead an accounting firm in suburban Sydney in NSW. In a recent talk, they shared their “life-changing” experience and insights on efficiently running their boutique accounting practice utilising Odyssey’s outsourced services.

Before turning to our outsourced services, they confronted challenges in simultaneously maintaining business operations and finding quality local staff. Like many smaller accounting firms in Australia, they grappled with a persistent talent crunch that hindered their growth. Rosanna revealed that, before seeking our expertise, she spent nearly half her time addressing HR issues.

Since 2019, Michael & Rosanna have been utilising Odyssey’s dedicated resources.

A recommendation from their professional network led them to Odyssey. After detailed discussions and reaching a mutual agreement, they started leveraging our resources, with today having three of Odyssey’s dedicated staff members integrating into their accounting team. As of now, we proudly mark five years of our robust relationship.

Below are the highlights of the Q&A session with Michael and Rosanna in their recent visit at Odyssey Operations centre in HCM City, Vietnam:

Odyssey Client Spotlight: Michael & Rosanna – Directors of Australian Accounting Firm, NSW
How long you’ve been working with Odyssey?

Michael: 5 years, since 2019.

Can you describe the relationship with Odyssey?

Michael: We used casual services first (ad-hoc services). Then, we started off with a part-time, full time and now we’ve got Vy as the third person. I think if we didn’t have a service like yours, we would find a great difficulty to maintain our operations. We’ve almost become dependent on Odyssey. Because it’s so difficult for the firm at our size to find, recruit, train, retain that 3,4,5-year qualified person in Australia,

It’s so difficult for us as a suburban…

Rosanna: …to find a quality person

Michael: …as a suburban practice even more so. if we’re in a city, it might be easier. Odyssey is sort of an important part of our business now.

So, we wouldn’t function without you.

How helpful is the Odyssey to your business?

Michael: It takes that core work away from us which is important. So, we’re trying to take away from our managers that middle profile of work, they are reviewing work and talking to the clients.

Rosanna: And they can do more advisory work rather than doing more detailed work and getting worried about bookkeeping and fixing up things. Our business wouldn’t run at the level it is exactly the moment if we didn’t have Odyssey. We can scale our business so we’ve been able to grow.

We don’t have to worry about HR. We don’t even have to worry about training. Our dedicated people know more than what we know. They are so efficient at finding out things. Training is really good. Product is fantastic.

And I think we’ve grown as a result.

Michael & Rosanna met Helen – Odyssey Operations Manager
How do you find the quality of Odyssey?

Rosanna: The setup was very easy, IT helped us.

Michael: SMSF is a wonderful service.

Rosanna: Well, we use Class software and they know it much better than we do because it’s a little bit complicated with Super funds.

Michael: I think the real benefit is now that we’re not writing off a lot of time when we were doing previously, and it was probably the combination of using Odyssey services and Class.

If on the odd occasion, we have an urgent need for Superfund, you’re really good. Because Wilby can say “Please have it done urgently” and then I’ll give a priority which is great, so that’s good too.

Rosanna: The turnaround time is very good.

Can you share your experience using Odyssey dedicated resources?

Rosanna: Now we’ve got 3 dedicated people. That has been virtually 100% productive. They’re very easy to work with, a lot of it is via emails and chatting on teams. It’s been very easy working with them, and they produce an extremely good quality product.

We’ve actually got a couple of large clients now… that we probably wouldn’t be able to service if we didn’t have them, …

Michael: …without your resources… without having the 3 dedicated.

The only difference is that the three ladies would be in our office, they’re just in this office.

Rosanna: We talk to them every day, multiple times a day, and they interact very well with our managers and with us. They are actually a delight to deal with…they’re lovely… they’re so easy to deal with. Nothing’s a problem. They do everything so well.

Michael: We wouldn’t be able to function without Odyssey!

If you are seeking accounting outsourcing advice, then drop Odyssey a line to chat. And don’t hesitate to consult us for any of your concerns.

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