Australian Accounting Trends in 2015 Financial Year

As another financial year comes to an end for Australia and New Zealand (government), let’s review some of the accounting trends that has driven the industry: Growing Digital Economy Australia’s digital economy is growing at a rapid pace and has contributed $79 billion or 5.1 per cent of gross domestic product (GDP) this year, according … Read more

What Makes a Great Workplace?

Some employees join a company because of the culture; others do because of the benefits package or the promise of career growth. But the question of how long they remain and how they perform lies, most often, on their relationship with the management. Great Place to Work®, a global human resources consulting, research and training firm specializing … Read more

Why Businesses Hesitate to Engage External Accountants

A recent study by American software company Intuit revealed that only 19% of Australian businesses use an external accountant. Intuit’s Financial Fitness Startup Study revealed that  53% do their own Business Activity Statements, even though 4 in 10 (40%) have only a basic understanding of business finances. 25% of Baby Boomers are likely to use … Read more

Why Firms Should Not Fear Automation

The impact of digital disruption encompasses jobs at risk of loss due to computerisation and technology, withaccounting and bookkeepers most at danger. As threatening as it may sound, it still presents opportunities and advantages that firms should not dismiss. Automation tools are made available to make our jobs easier and quicker. They wouldn’t run anyway … Read more

What Moves NZ Businesses to Embrace Outsourcing?

Grant Thornton’s latest International Business Report (IBR) survey revealed that cost is not the key driver for New Zealand business leaders in outsourcing professional services. The 2015 study Outsourcing: Beyond Technical Expertise explores what companies look for in their outsourcing relationships. The most common professional services that are outsourced include human resources, payroll, and accounting. … Read more

Business Performance Dashboard: Xero’s New Wave of Innovation

Preview of Xero’s Business Performance dashboard (via Xero) One of the highlights of the recently concluded Xerocon Auckland 2015 is the preview of Xero Business Performance dashboard, which provides executives a visual snapshot of their businesses’ financial health using a simple, integrated interface in real time. Now, it has been made available to all Xero … Read more

Xero Hailed Most Innovative Firm by Forbes

For the second consecutive year, New Zealand-based software company Xero topped Forbes’ list of Most Innovative Growth Companies of 2015. Source: Forbes Founded on 2006, Xero Ltd. provides online accounting and business services to small and medium sized enterprises. It garnered an innovation premium score of 90.11%, which was followed by another strong Software as … Read more

Maintaining Data Security in Outsourcing

With the growing complexity of information and communications technology in this day and age, corporations are getting overwhelmed with security threats and data risks. This is one of the very reasons firms are reluctant to outsource their critical business processes. Managers fear of losing sight of control to data security by handing it over to … Read more

Why Clients Seek Out Visible Experts in Accounting & Finance?

Previously, we discussed how clients “check out” or seek to evaluate potential accounting & financial services providers they have heard of or compare providers with whom they are familiar. Now, we’re going to discourse what motivates them to find high visibility accounting and finance expertise. “Hinge’s past research has found that accounting and financial services … Read more

CPA Australia Joins Financial Services Market

Earlier this month, CPA Australia announced its establishment of a wholly-owned subsidiary, CPA Australia Advice Pty Ltd, which will be applying for an Australian Financial Services Licence (AFSL) and an Australian Credit Licence (ACL) to operate as a financial services business. According to its chief executive Alex Malley, “This means the operation of CPA Australia … Read more

Smarketing and Its Importance to Your Firm

Smarketing refers to the integration of the sales and marketing processes to reach a common business goal. According to a study by The Aberdeen Group in 2010, companies with strong alignment of sales and marketing has led an annual revenue growth of up to 20%. Two Teams, One Goal B2B companies like accounting firms usually … Read more