Accounting offshore – the 8 things you need to know

Thinking about offshore for your practice?  Perhaps you have already made the move?  When done right, establishing capability offshore can be a game changer for your business or practice.  Here are my top tips of how to ready your business or practice for the move.

Define and document your objectives

Whatever your reason for moving accounting processes offshore, it’s important to agree on objectives and to lay out your expected outcomes.  Include measures of success and a timeline that you can measure against.  For example, if the plan is to move all BAS preparation work to your offshore team, set a target date for completion. Don’t forget to include other measures such as expected savings.

Revisit your agreed objectives regularly and hold yourself or your service provider accountable if timelines shift.  When dates slip, or performance targets are not met, it can start to get expensive.  If you are transitioning the tasks and functions yourself, allow for those busy periods and be realistic about what you can achieve.

Have a plan

It may be stating the obvious but outlining and documenting your plan of attack will allow you to focus on the immediate tasks, rather than your next move. It doesn’t need to be lengthy, a simple spreadsheet will suffice.  Who will train your team? What processes will move, and when? How will you manage change? These and more need to be answered and planned for ahead of your move.  If you have the budget or the resources, you should seriously consider assigning a project manager.

Let’s continue the offshore talk at the Accounting Business Expo 2020!

Everything for Every Challenge

The accounting industry and profession is undergoing changes more than other industries. With technology present in every aspect of business, staying on top of the advancements while ensuring consistent quality results for customers can be quite difficult without the help of experts.

Accounting Business Expo 2020 has everything for every challenge

This year’s ABE offers solutions for every challenge all under one roof. If you’re a business owner, accountant, bookkeeper, director, advisor, tax professional, of finance manager/controller, you have the chance to get the following for FREE:

  • Expert ideas about the industry, ranging from small businesses to corporate finance to taxation to SMSF to accounting technology. After ABE, you’ll be able to serve clients better using the best practices and strategies.

  • Tailored solutions for the improvement of your business’ or firm’s finance from different providers, enabling you to develop your core competencies.

  • Value-adding tools that will help in practice management, advisory, and wealth management to better service your clients.

  • 120 individual sessions tackling a wide range of business topics.

  • An opportunity to earn CPD hours.

Drop by hammerjack and let’s catch up!

Expert outsourcing with skilled people, best processes, and latest technology is what we’re bringing to ABE this year! Our years of experience working in the Finance & Accounting industry show our dedication to bringing consistent quality results for our customers (and their customers) by letting them focus on what they do best – making their offshore move worthwhile.

If you’re interested to find out more about outsourcing offshore, drop by Stand B13. Our experts will be more than happy to catch up with you.

ABE 2020 is happening on 25-26 March 2020 at the ICC Sydney Exhibition Centre, Darling Harbour, Sydney.

Don’t miss a bigger, bolder, and better ABE this year.

Get a hold of your FREE ABE 2020 TICKET by registering here.

Not sure you can come but want to know more? Reach out.