Discounting to win work is probably the second most damaging thing an Australian accountant can do in their firm. Of course, the first is to allow “scope creep” or “write-offs” as a result of scope creep. So this week we’ll have a quick chat about why discounting is so damaging to your firm. Customers who ask for discounting usually have …
Australian Accounting Firms: Do you tell your clients about the value they receive from your Outsourcing Partner?
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 …
Top 5 reasons why Australian Accounting firms are outsourcing overseas
Australian accounting firms are moving into cloud, automation, and outsourcing at an increasing pace. In 2012 Odyssey’s CEO presented at the IPA Conference on “Outsourcing: Out of the closet and into the Cloud”. Fast forward to today, and everyone knows about outsourcing, and it’s widely accepted amongst the Australian accounting community. Certainly Australian accounting and tax compliance outsourcing has come …
Accounting business owners model is all wrong. Why hiring full time staff isn’t making sense in the using economy
This week we’re looking at the full time employment model, which is the model most people are probably used to. You know, the one where you grow up, maybe go to uni (or take on a cadetship while you study), then graduate and get a job. And that job is a full time gig. 40 hours a week plus or …
Top 5 reasons why Australian Accounting firms are outsourcing overseas
Australian accounting firms are moving into cloud, automation, and outsourcing at an increasing pace. In 2012 Odyssey’s CEO presented at the IPA Conference on “Outsourcing: Out of the closet and into the Cloud”. Fast forward to today, and everyone knows about outsourcing, and it’s widely accepted amongst the Australian accounting community. Certainly Australian accounting and tax compliance outsourcing has come …
Selling the Accounting practice ball and chain… Thoughts part 2
We thought this week we’d start off with a great Getty image of an accountant at a beach. Then as the dream of the beach disappears (sorry) we thought we’d recount a recent conversation we had with an Australian accountant. This accountant was a principal of a firm in Perth. He was a part owner, with other major owners being …
Selling the Accounting practice ball and chain… Thoughts part 1
As many Australian accountants come to considering when to sell up their main asset of their working life, their accounting practice, it’s interesting to see how people start to consider readying their practice for sale. As Odyssey has been providing outsourcing services to Australian accountants for over a decade, we’ve seen a few accountants sell up their practice or consider …
The Future of the “Per Seat” Resource Model
I was talking to a Philippines BPO provider the other day who has been operating in this space for more than three years. They offer full time employees to Australian accountants on a per seat fee basis and he had some interesting comments about the resources. In the financial planning area they were making good money. They were doing okay …
Bitcoin: Are you up to speed?
In Mid May Bitcoin surged up to $1,900 and Bitcoin now sits at around $2,141. Going back only 4 years Bitcoin traded at $14. This has been a rise of 153 times the original $14. Certainly if you are reading this then likely you didn’t purchase Bitcoin at $14! Wikipedia lists 24 other crypto-currencies, the most recent being Zcash. You …
