Following the last post (if you just landed on this article, we suggest you read the previous one first), the rest of the checklist of issues related to choosing the best possible OSP is as below. In the previous post we covered the questions to ask the OSP regarding background on the country the OSP works from, finding out more about …
Issues to consider when selecting an Outsourcing Service Provider – Part 1 of 2
Maybe the most difficult decision regarding the outsourcing is to find the right OSP. It is useful to go through the checklist of issues to consider when selecting an OSP. For this post, we will look at three themes: background, characteristics of the OSP and their staff. Background on the Outsource Service Provider Many accounting firms ignore the important background on …
2018 Reflections, and 2019… what great things will you achieve this year
So 2018 is done and the new year is with us. Have you reflected on what you achieved in 2018. Likely we won’t. but we should. The big question for 2019 is what will you achieve. What lofty goals have you set, and are you going to get in there and do it. I’d like to borrow an excerpt from …
2019 – It’s a New Year!
So here we are in 2019 – what’s your new years resolutions?! When we are young, we are too busy focused on the new years day, and probably the headaches that arrive with the new year. Then as we hit our 20’s we’re totally into new years resolutions: whether it be cleaning up our life, our house, putting things in …
Outsourced Offshore Accounting Services: Why Australian Compliance work is heading overseas.
As we head into the Christmas season, and lots of us head overseas, it’s a good time to reflect on the past year. And it’s not just the Australians that are headed overseas, albeit for a short break. Over the past year we’ve seen an explosion of work headed overseas, with the main recipients being India, Philippines and Vietnam. With …
What kind of services can accounting firms outsource?
Accounting firms normally outsource the business activities related to accounting, taxation and bookkeeping compliance. In the digital age, many firms are considering the outsourcing of other ancillary services such as marketing, sales and administration. The checklist below will help you identify which areas and which services you wish to outsource. Accounting function services Accounting compliance is the usual standard service …
Australian Accounting Outsourcing Best Practice: why Outsourcing is the game changer.
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, …
Is Digital Disruption in the Accounting profession just a load of garbage?
As we all settle into the thought of a break at Christmas time, it’s likely we’ll reflect on the year that was, which is only mid year in the Australian accounting compliance world. More interestingly, what’s really changed this past year. The compliance world seems to be “same old same old”, more tax regulations have been introduced, but apart from …
The Ten best practices for Accounting firms working with Offshore Outsourcing firms.
Outsourcing is not a new way of working, and outsourcing to Australian accounting firms is now approaching 20 years. Certainly a mature offering for those firms like Odyssey that were the first movers (the pioneers) in this space. However, it’s acknowledged that with demand far outstripping supply in this area, there has recently arisen “labour hire” firms, with low barriers …
Evaluating the Potential risks of Outsourcing your Australian Accounting, Taxation and Bookkeeping Compliance
In the first part of this series, we discussed the benefits of outsourcing accounting, taxation and bookkeeping compliance to an offshore provider. Understanding the risks associated with the outsourcing is as important as evaluating the benefit. Outsourcing has 3 key success factors / risks: Quality, timeliness, price. Generic business risks are generally well understood and relate to a large extent to these key …