Top 5 reasons why Australian Accounting firms are outsourcing overseas

David CarterOutsourcing

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 … Read More

The future of Australian Tax Compliance… Why Gen Y find it hard to engage

David CarterAutomation

With Automation likely to impact compliance in the near future, and offshoring impacting compliance now, this week we look at Gen Y’s engagement with the future of compliance. There has been plenty of discussion about offshoring and automation affecting compliance, and particularly where the new “Middle Managers” will be found in 3-5 years if graduates aren’t being engaged and recruited … Read More

Forecasting the future of Australian Compliance

David CarterGeneral

Nassim Taleb was credited with the black swan theory and indicated that the black swan event depends on the observer. So in respect of the turkey and the butcher, the outcome is the same, but the event is not a black swan event to the butcher. The object then is not to become the turkey. A turkey is fed for 1,000 … Read More

Is a black swan event just around the corner for Australian compliance?

David CarterOutsourcing

Australian Compliance and Outsourcing

With Mother’s Day just past there has been some interesting online discussion about the commoditisation of the florist industry. There are many similarities to the “Commoditisation of Compliance”. We are all familiar with Airbnb, Uber and the other connectors in the industry, and their margins are well known. Airbnb offers a more unique product while Uber offers a transport which … Read More

How accountants will survive automation

David CarterAutomation

Remaining relevant suddenly takes on a sense of urgency with recent automation releases. It’s pretty obvious by now that clients aren’t going to pay for someone to regurgitate the tax code, when they have access to the same tax code online. Firms building their own compliance teams offshore are headed in the wrong direction. The push should be into automation, … Read More

After the Compliance is gone… Empty nest syndrome for Accountants

David CarterGeneral

We talk to a lot of accountants, and their big fear of Automation, Cloud and Outsourcing is what will I do when the Compliance work is gone, or at least reduced so much that they have spare time on their hands. Recently the discussions have centred around the fact that the world post Compliance is really a greenfield opportunity, and … Read More

Goodbye to Compliance Jobs, but will Robots meet with your clients?

David CarterAutomation

Goodbye and Good Riddance to Compliance. But just how far will robots and automation shave off the compliance workload. And will robots meet with your clients? In mid last year there was excitement on the release of robots which mimic human walking habits, with videos released of the humanoid Durus. Later last year a massive 4 metre Avatar like robot was built in South … Read More

The future is online (and offshore) for Australian Compliance…

David CarterOutsourcing

There was an interesting article in the Australian online news recently that a few years ago would have been scoffed at without further thought. The article was titled: “Is coding the blue collar job of the future?” and suggested that using the analogy of the building industry, we not only need architects and engineers and designers but also a lot of … Read More