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  • #1000530
    Senior SMSF Accountant
    Member
    • Total posts: 2

    Hi everyone, I am new here and looking for tips or leads for something that I have been planning to do in future.

    I am a specialist SMSF accountant and registered tax agent and is currently working full time for reputable firm in Brisbane. I am originally from India and moved to Brisbane 13 years ago. As most firms (of all sizes) are outsourcing the work overseas, mostly to India & Philippines, I think there is more opportunity for me to look at outsourcing then continue working on my job. I have more qualification, working experience in Australia, mentoring junior accountants and experience dealing with complex SMSF issues and I will be able to provide higher quality of services from the existing outsourcing firms overseas. As the client base size will increase, I can move to India for whatever required time to setup a team there.

    I am posting it on this thread as I thought there might be businesses seeking something similar to what I am offering.

    I welcome any other suggestions on what’s the best approach.

    Thanks
    Prati

    #1224680
    Mel S
    Member
    • Total posts: 9

    Hi Prati,

    Welcome! I think we maybe able to help each other re: outsourcing services.

    I have a consulting business (business advisory services) focusing on helping SMEs.

    I’ve partnered with an outsourcing company in Sydney with a team of virtual assistants in the Philippines that does the bookkeeping for companies here, etc.

    Since you work with SMEs I’d like to find out if you won’t mind helping me please with my market research as to how I could potentially help compliance accounting practitioners to increase their revenue by providing business advisory services.

    If you’re interested to help me and potentially we could partner together as part of the Virtual Controller (Advisory Board) services I’m offering, please refer to my bio to contact me.

    I can send you the doc where I’ve outlined the kind of help I need and what I’m working on to give you a better idea of how you could help me if you won’t mind and how we could potentially work together. Or in case you know someone who you think can help me.

    I’ll greatly appreciate any suggestions/tips you can share with me.

    Many Thanks.
    Mel

    #1224681
    Senior SMSF Accountant
    Member
    • Total posts: 2

    Hi Mel

    Happy to exchange information. My emaik is prati.c4000@gmail.com

    Cheers

    #1224682
    Mel S
    Member
    • Total posts: 9
    Senior SMSF Accountant, post: 271757, member: 120526 wrote:
    Hi Mel

    Happy to exchange information. My emaik is prati.c4000@gmail.com

    Cheers
    Hi Prati,

    Thanks for the info. I’ll email you the doc.

    Many Thanks.
    Mel

    #1224683
    JamesMillar
    Participant
    • Total posts: 1,676

    The biggest challenge I see with any outsourcing model is in managing the impact of reduced internal collaboration for a specific job for a client.

    Having been in this space for several decades now, it has become very clear to me that the best outcomes for the client (not necessarily the firm) are achieved by deploying

    1. A very thorough analysis of the complete information
    2. by a team of very capable people who are 100% committed to achieving the client’s objective (whether that be to reduce their business tax or reduce their SMSF tax etc).

    We do all of that in house very well and its taken a long time to develop that capability with everyone working together (in the same office) all day every day. As I say to our team….WE ARE ALL ON THE SAME BUS.

    How do you get people ON THE SAME BUS that are not part of your organisation, not part of your internal culture, not 100% aware of the end problem being solved.

    I am aware that some do it well but as to whether it can ever be as effective as in-house – not so sure about that. And if all of that means the solution the client gets is not quite as sharp just to save a few dollars then it’s not for us. Its pocket change. Some people (including accounting firms) provide services and do a job just to pay bills and get by and some do it for the craftsmanship and satisfaction of solving problems better than anyone else. I know where we sit and it works well for us.

    #1224684
    Mel S
    Member
    • Total posts: 9
    Senior SMSF Accountant, post: 271757, member: 120526 wrote:
    Hi Mel

    Happy to exchange information. My emaik is prati.c4000@gmail.com

    Cheers
    Hi Prati,

    Just to let you know I’ve sent you 2 emails on 14/1/2021. Please let me know if you didn’t receive it so I can resend it. If you want to discuss further the info I’ve sent you, please feel free to contact me.

    Wishing you all the best with your plans to offer outsourcing services. I think it’s an idea worth pursuing as there is an increasing trend towards using outsourcing service providers for accounting firms to provide more services to their clients beyond compliance work.

    I’ve written 2 blogs about outsourcing services which I’ve published on my website on 26/1/2021 and 31/1/2021. The blog included some research data about the trend in the accounting profession beyond providing compliance services to increase accounting firm’s revenue sources.

    You may find the info useful as a resource for your plan to start an outsourcing service business. The blogs may also help you to become clear on how you’d like to transition to become an outsource service provider.

    Wishing you all the very best in your plan to start your own outsourcing business while working on your job.

    Kind regards,
    Mel

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