Outsourced Offshore Accounting Services: Why Australian Compliance work is heading overseas.

David CarterOutsourcing

outsourced offshore accounting services

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 the pent up demand being unmet by the Outsourcing companies, there has been a move to “try it yourself” models in the Philippines, just hiring new staff with no Australian experience, and just getting them on the tools.

Only time will tell regarding the efficiency of this model, but these cheap solutions seem to be here to stay for another year, at least until the Outsourcing companies can train up new staff to meet the overwhelming demand.

At the same time, we aren’t seeing any significant effects of AI or Machine learning, and it’s sure to be another couple of years before this has serious inroads into the Australian compliance workload.

So relax, enjoy the holidays , and for sure the compliance work will be there when you get back … unless you’ve sent it over to the Odyssey!

PS, yes, we’re open for Christmas and shoveling work out the door.

Have a great Christmas…