Efficiency for Accountants through outsourcing work you hate.

I've emphasised this point previously, and it's crucial to reiterate: the pivotal factor in any outsourcing decision lies in comprehending your firm's core strengths.

The general advice is straightforward: refrain from commencing the outsourcing journey with functions fundamental to your business. Instead, focus on outsourcing process areas vital to your operations but potentially more efficiently handled by external teams. Administrative support, encompassing tasks like managing invoices and ensuring regulatory compliance, is often non-core for many accountancy firms and can easily be transitioned off-site.

Common administrative duties, such as invoice management and compliance checks, can be effectively overseen remotely.

Questions arise, and inevitably, one asks, "What else can we outsource, Kane?" My response consistently includes:

Workpaper Construction: Especially beneficial for tasks completed in AU, constructing support workpapers is often burdensome for AU staff. Offshore teams can replicate formats from prior years, easing this non-valuable task.

GST Reconciliations: Offshore teams extract data from past BAS and IAS, pre-populating GST reconciliations for June figures. They may handle basic reconciliations or identify issues, facilitating a streamlined review by AU staff.

Corporate Secretarial Work: This includes ASIC Annual Statement distribution and processing various changes such as company addresses, officeholder appointments/cessations, share structure adjustments, and member details.

Depending on your current resources, outsourcing removes a non-core, non-value-add task from AU hands, a crucial aspect of effective outsourcing.

SMSF work is another non-core area for a lot of accountancy firms that can easily be solved with a little SMSF outsourcing at a fixed fee!

I'm Kane from Active Outsourcing (www.activeoutsourcing.com.au), boasting 15 years of full-time outsourcing experience, including initiating the SMSF outsourcing team at Moore Stephens and overseeing the National Deloitte Outsourcing team in Australia. Join me in the conversation on outsourcing and accountancy—feel free to post your questions wherever you encounter this message.