Supercharge Your Firm’s Capacity By Growing Your Global Accounting Team

Supercharge your firm capacity
[header_title header_tag="h3" add_title="Get to know the potential of your team at The Outsourced Accountant"] 6-minute read   Supercharging your firm’s capacity will require you to accomplish a number of key strategies. One of the most crucial is getting the right people on the right tasks in the right place. The idea here is simple, grow ... Read more

PICPA Appoints TOA Global’s Jaypee Lagman As Chairperson for Committee on Member’s Update and Welfare

Jaypee Lagman PICPA
TOA Global recently scored another victory with the induction of Jaypee Lagman from the Watkins team as the Chairperson of the Committee on Member’s Update and Welfare of PICPA San Fernando last August 18. Held at The Orchadarium, in the City of San Fernando, Pampanga, the 52nd Induction Ceremony further strengthened the partnership between TOA ... Read more

TOA Global Donates Brand New Computers To Tuloy Foundation

TOA Global donates to Tuloy Foundation
Through the generosity of the TOA Global Inc Foundation and TOA clients, children from the Tuloy Foundation have recently received brand new computers to further help them with their studies last August 22. Spearheaded by Kerrie Brown, Chief of People, and Ethel Pelayo, Executive Assistant, the event took place at the Tuloy Foundation facility in ... Read more

Resourcing Solutions For Your Practice – An ATL Network Webinar

Outsourcing accounting - ATL Network Webinar
In this webinar, ATL Network CEO Colin Simkins, along with The Outsourced Accountant CEO Nick Sinclair, talked about potential resourcing solutions for firms. For years, one of the common themes firms go through is staff shortage. The challenge in getting the right people is one of the many challenges that just doesn't seem to go ... Read more

Client Spotlight: How Offshoring Helps RWK Accountancy Grow Their Clients’ Businesses

In this edition of our Client Spotlight, Director Robert Koch of RWK Accountancy discusses the struggles they initially faced and how offshoring eventually helped them steer their firm in the right direction.

Small businesses face several challenges that can hinder success. Unless business owners find a more efficient way to deal with day-to-day operations, it might take a lot of time before they experience growth.

A survey conducted by the Chamber of Commerce and Industry Queensland discovered the many challenges small businesses face. These include productivity and processes. Small businesses need to get the most out of every minute and every resource spent. They need to be productive to ensure profitability. Another essential issue business owners need to address is streamlining processes to ensure they are spending the right amount of time and energy on things that will actually contribute to their growth.

One simple way to address this is outsourcing.

That’s exactly what RWK Accountancy did to help their small business clients achieve the growth they need. Based in Western Australia, RWK Accountancy mostly deals with small businesses. The company doesn’t have a niche client and is focused on helping clients grow and improve their business.

What is RWK Accountancy?

RWK Accountancy has two offices in Western Australia. Most of what they do is book keeping. Robert believes that everything stems from efficient bookkeeping. If done properly, everything that follows will become simple.

They recognise the need to scale up this part of the business but they were unable to find the suitable people to fill in this gap in Australia. The Outsourced Accountant was able to connect them with the perfect people and it has been a great experience for the company so far.

 

client spotlight - robert koch

Integral part of the company

It’s crucial in any organisation to have a highly engaged team because that is synonymous to a highly productive team. RWK Accountancy has only been with TOA for less than a year but the staff they have now already plays an integral role in the firm.

 

“We started probably about 15 months ago and actually stopped at one point because we didn’t have robust enough processes. We started back again about six months ago and put on two people over in the Philippines and they seem to be working really well for us.”

 

While there wasn’t much doubts with outsourcing, the company initially encountered missteps because they didn’t have enough robust processes to train their staff and get them to accomplish the required tasks, so they had to stop. Eventually, they decided to give it another try and hired two people from the Philippines.  

Even though they’ve only been with TOA for less than a year, the company is delighted with the performance of the team. According to Robert, they are very engaged. And while they haven’t been used to their full potential just yet, the firm is confident that the team can and will perform extremely well.

Ready and hopeful for improvement

Communication is an integral factor in establishing a good working relationship in any organization, which is why the company makes sure to conduct Skype meetings to touch base or greet someone a happy birthday. According to Robert, this is something they will continue working on to ensure every team member has a clear understanding of their expectations in terms of the roles they play.

While it’s a little bit difficult, he believes it’s all good, especially since they’re still in the early stages. And as the company continues to grow over the last 18 months, the outsourcing team, which takes care of the most important element: bookkeeping, continuously does a tremendous job in providing consistent results that will benefit the company in the future.

 

As we bring on more and more clients we’ll put more and more people on. These girls will be able to train them up the way that we want the staff to be working in the future.”

 


If you have capacity restraints, are looking to scale your firm, or just want to know what is possible with outsourcing, contact our local industry experts specialists for a consultation today at 1300 896 522.


Outsource Your Accounting Staff And Worry Less Running Your Business

cost and benefits of outsourcing
Should you outsource your accounting? If so, when is the best time to do it? The time is NOW. According to one report from the Global Business News, 75% of U.S. and European multinational firms have outsourced financial solutions, which include accounting, and that about 29% plan to continue outsourcing their needs.   ‟The survey ... Read more

TOA-PICPA Future Partnership Sets Ground For Accountants’ Career Growth

accountants' career
On August 4, 2017, Philippine Institute of Certified Public Accountants (PICPA) San Fernando visited TOA and discussed TOA’s 5 Point Engagement Plan. Highlights of the discussion are the announcement of the PICPA Amnesty Program, which will allow our team members to be in good standing by paying only the current year’s membership due; the memorandum ... Read more

Employee Highlight: Supercharge Your Firm Productivity Through Outsourcing Accounting

outsourced accountant
There is one crucial element in improving productivity that involves tapping into the expertise of other people: delegation. As an organisation grows, the tasks and responsibilities of various team members may become less defined. Without proper planning and delegation, your company’s growth may suffer. That’s why it’s important to harness the skills and experience of ... Read more

Win The War Against Productivity Webinar

[header_title add_title=”Get to know our CEO’s winning plan of attack”]

In this expert webinar, listen as our CEO Nick Sinclair provides highly effective tips on how you can be more productive at work. Learn how you can identify productivity blockers that impact accounting firms and discover the solution — based largely on his personal experience in running his own business — to supercharge your productivity.

Key insights:

  • The war against productivity: How did we get here?
  • The art of planning to help scale your business fast
  • Killer tips on efficiency for firm partners and accountants
  • Why you need to outsource specific tasks
  • Case Study: The importance of having an Executive Assistant
  • Valuable life lessons on overcoming the struggle for productivity

The war against productivity: How did we get here?

Productivity suffers on a daily basis. Things like phone calls, emails, and meetings, although crucial to day-to-day operations, can consume a significant amount of your time. By understanding what takes up your time, you will be able to adjust and streamline your processes to ensure you get things done without compromising the important tasks.

Productivity Tips Poll Question

 

From our first poll conducted in this webinar, 56% identified emails and calls as the biggest roadblock to productivity, followed by client issues (25%). For 25% of the respondents, meetings are a big productivity killer while 6% believes calendar management and reporting are keeping them from accomplishing their tasks. These things take people away from what they should be doing.

We see so many firms and business owners who are not doing the right task. Instead, they focus their days on the wrong things and that makes them unproductive.

You need to have the right strategy to add value to your clients. This entails recognising where you can maximise your time and contribute to your goals. This is where planning comes in.

The art of planning to help scale your business fast

 

Productivity tips - long term planning

 

Long term planning

Consider how you’re managing your time. To get the most out of it, you need to start establishing daily, weekly, and yearly plans. This will help you structure your schedule efficiently. You will also know which areas you need help with. This means considering training other people to do some of the work you do so you can free up time in the future and use that free time to focus on tasks you enjoy doing.

Identify your role and strengths as a starting point

Nick shares the most important questions firm owners need to ask:

  • What is your role within the business?
  • What are your three core tasks?
  • Are you performing the three core tasks on a daily basis?

Based on his experience communicating with clients, Nick found that managers and firm owners are constantly concerned about the fact that they don’t get work done because they don’t have enough time.

 

“Sometimes you have to go backwards to go forward.”

 

Identifying your three core tasks is a sure-fire strategy that will help you avoid getting distracted and help you become productive.

As his company started to grow, Nick discovered that he was getting pulled into areas where he wasn’t necessarily skilled at. To avoid spending twice as long on these areas, he realised he needed to have some real structure.

Long-term planning is an efficient way to maximise your time as it allows one to focus on the important tasks. For Nick, several issues needed to be resolved first and immediately to be able to jump right into long-term planning more effectively.

  1. Managing his diary efficiently made it possible to accomplish all the important tasks without compromising personal time. His tip: map out your schedule for the next 12 to 18 months.
  2. Identify your firm’s key projects and initiatives that run on either a 12-month or 18-month strategic planning cycle and make a strategy around this. This can be broken down to 90-day and 30-day cycles. A strategy like this will provide you with such laser focus you will be able to oversee all aspects of your business.

You should also identify the following:

  • What tasks are you good at?
  • What tasks do you enjoy doing?
  • How much is your time worth?
  • What tasks are you focused on daily?

The answers to these questions will help you determine if you are better off reassigning tasks to someone else, like a virtual assistant or an executive assistant.

 

“When we start focusing on the right activities we start getting the right results.”

 

Rhythm and workflow

Strategic planning will result to a more efficient and streamlined schedule. By practising specific methodologies, you will be able to learn how to manage an ideal week. What does your ideal week look like? With this as a guide, you will be able to plan all your daily tasks.

  1. With a clear timeline of tasks, everyone will know where each one stands. Share your calendar with your team. This will help each member focus on their respective tasks, so they don’t end up stealing your time, which is one of the biggest productivity killers.
  2. Another helpful element to improve your workflow is keeping in touch with everyone. Daily huddles are instrumental in keeping everyone updated on milestones and progress of certain projects.

Thought to ponder: Which tasks take up most of your time? How much do you spend on connecting with your staff, implementing growth strategies, and dealing with clients?

Outcome profiles

You can plan strategically when you pay close attention to your outcome profiles. Identifying the tasks each member needs to focus on will help you, as a business owner, assess if the results are actually in line with your client’s strategy.

That includes talking about data. To remain competitive, you must establish ways to talk about your numbers. This will allow you to gather feedback and insights that can be useful in formulating plans. Moreover, this will help you set revenue targets.

Great communication

Having the right people for the right tasks is vital to a team’s productivity. But it doesn’t end there. You need to take care of your team and that means mapping out a people strategy. Most firms don’t have any people strategy in place, which can be disadvantageous because having such strategy will help you focus on ensuring you have the right people working on the right tasks and that these people are at their best.

Additionally, your team needs to utilise the right technology. Embrace technology to see how much more efficient your team can be.

Nick also shares one of the biggest tips on staying productive: removing “stucks.” Identifying stucks (areas that keep you from moving forward) will help you refocus, re-prioritise, and reallocate.

Here at The Outsourced Accountant, we conduct daily huddles to answer the following questions:

  • What are your highlights yesterday?
  • What’s your focus today?
  • Where are you having problems with?
  • What’s stopping you from doing your job today?

Removing stucks on a daily basis will help people become productive.

Killer efficiency tips

Productivity Tips

 

  • Remove stucks or areas that are keeping you from moving forward
  • Have the right people do the right tasks
  • Identify and implement data and metrics
  • Segregate your emails
  • Utilise the right technology
  • Map out your holidays to avoid burn-out

Why do you need to outsource specific tasks?

Productivity Tips Poll Question

The results of the poll is quite surprising, with 52% saying they want to outsource their marketing tasks. This shows that a lot of the participants are doing marketing tasks and that they’re most probably not experts on the field.   

Email and calendar management is next with 48% which is really not surprising since email is one of the biggest productivity killer. 33% says they don’t want to do sales support while 67% doesn’t want to do reporting anymore.

Outsourcing specific tasks will free up time and allow you to focus on the more urgent and important aspects of your business. When you tap into the skills of other professionals, you will have more time to foster relationships with your clients.

Case Study: Get help from a trusted professional, like an executive assistant

It’s easy to get busy with being busy. As a result, it’s probable that you might spread yourself thin. Checking and responding to hundreds of email, setting up meetings and following up on them, communicating with the staff and clients, and ensuring everyone is meeting their KPIs are just some of the things you need to address on a daily basis. Plus, there’s your personal life. You don’t have to do all these yourself.

By hiring an executive assistant, Nick was able to improve his productivity, allowing him to successfully run his business. Outsourcing certain aspects of his job helped him accomplish the following:

  • Identify the important emails he needs to respond to (he gets around 350 emails a day)
  • Travel without any hassle
  • Spend quality time with his children
  • Maximise his time and skills

Valuable life lessons on overcoming the struggle for productivity

At this point, you’ve already learned helpful tips on streamlining your processes for a more productive day at work. You’ve learned that you need to:

  • Identify your core tasks
  • Plan strategically to provide value to clients
  • Focus on your strengths and capitalise on those
  • Maximise your time
  • Delegate certain tasks
  • Communicate with your team regularly
  • Hire the right people
  • Utilise technology
  • Identify stucks

The most important lesson is letting go. Now that the importance of delegating certain tasks is clear, you can focus on letting others take the reign.

When you let go, you show your team that you trust them enough to be great at their respective jobs. This is important for them because it shows that you respect them. Most importantly, you will have enough time to deal with the more important parts of your business.

Letting go is never easy but having the right people and the right systems should make the process easier. Let’s go back to one of the earlier questions: “what is your time worth?”

By letting go, you give yourself the chance to truly value your time and use it to scale your business.

Nick has had an amazing journey in offshoring and in his personal life. Get to know more stories and wisdom from him here that have helped a great number of accounting and finance firms across Australia, New Zealand, the US and UK.

 

Productivity tips Nick SInclair quotes (2)

 

Expert advice is always readily available at The Outsourced Accountant. If you are looking for ways to increase productivity, we are ready to talk. We have offshoring experts for your accounting and finance needs.

Headquartered with an executive team in Australia, we provide dedicated team members as a high-quality offshore team. Growing rapidly with over 600+ qualified accountants and support staff in the Philippines, we deliver all the recruitment, onboarding, facilities and amazing culture to support your workflow.


If you are an accountant, bookkeeper or finance firm experiencing capacity restraints and looking to scale your firm – call our local industry expert specialists Cameron, Shane or Cam today at 1300 896 522 (AU).

You may also book a 15-30 minute no-obligation appointment with us – just click here.


Key Lessons in Winning The War Against Productivity

There’s a war happening in many workplaces today: the war against productivity.

Productivity is a hot topic these days. There’s so much to do yet so little time. With the kind of technology available to everyone, as well as hacks, it should be easy to start becoming highly productive at work. The problem is, many are still not winning this war.

What could be the problem?

It’s all about using your resources the right way. And it starts by careful planning so you can execute perfectly. That’s exactly what you’re going to learn from our CEO, Nick Sinclair, who has learned how win the productivity war.

He’ll share with us the things he’s learned from his years of working hard — and smart. These are key information that everyone — from accountants to managers — can use to significantly improve their habits so they can do more in less time.

Proper time management

Time is a highly valuable non-renewable resource. You only have a certain amount of hours in the day to do everything on your list. The thing about most people is they’re focusing their time and energy on the wrong things, so they end up not accomplishing anything even if they’ve buried their noses in paperwork.

One of the main problems people face is having so much time-consuming stuff, like answering emails and meetings, consume their day. They no longer have the time to do the most important aspect of their business which is taking care of the clients.

Technology and paperwork keep accountants from communicating with their clients. They have so many priorities that they don’t even know where to start. The danger here is that client communication suffers. Worst case scenario: you lose clients.

So this begs the question: Will you become buried with work or become better at managing your time?

Here’s the thing: you don’t need to do everything. You can assign certain tasks to an offshore team.

 

“Time is what you make it. I had to learn the hard way which is either learn to become better or be buried.”

Proper planning

Strategic planning is crucial to any business. This means you are smart about the things you do. As a business owner, you don’t have to do everything. That’s what your employees are for.

It’s easy for some to get busy by being busy with day-to-day operations that they forget to step back and actually look at the bigger picture. Don’t get both feet wet. You’re better off focusing your time and energy on things like strategic planning and client relations. Leave the rest to your team. Allow them to be responsible for the tasks they were hired for.

For Nick, something as simple as answering email can be structured properly. Since he receives hundreds of email, he has devised a strategy where he gets to attend to everything without having to spend hours behind the computer. That’s because he has an executive assistant who helps weed out stuff he doesn’t need to attend to.

Their smart strategy has allowed Nick to have more time for other important things.

Structured planning will help you manage your work and life more efficiently.

 

Nick Sinclair quote Win the War Against Productivity

Hiring the right people

Speaking of having an extra reliable hand, Nick highlights the importance of having an EA. His experience working with Ethel, his trusted EA, has allowed him to: (1) take care of his schedule which runs up to 18 months; (2) plan his personal travels and work trips; and (3) attend to all correspondences and even set up meetings. These are just some of the many benefits of having an EA.

Getting the right people is a key element in winning the war against productivity.

This also prevents organisations from promoting the wrong people just because of tenure. By getting the right people, you can be confident that whoever is on a leadership position can take care of the company.

 

“It’s really about getting the right people to do the right tasks and the right location at the right cost.”

Understand your numbers

Some businesses are naive around numbers. We discourage you from being intimidated by it because when you know your data, you will be able to make strategic business decisions to propel you to the top.

You will be able to identify certain areas you can improve so that productivity improves. Data don’t lie and this means you will be able to make the right decisions. Don’t run your business blind.

Our offshore data analytics team focuses on the key numbers and trends that help us learn more about the business.

Take advantage of technology

Technology can definitely improve productivity. But you need to know how to utilise it properly. One other benefit of technology is it allows you to show respect for other people’s time.

Consider this: by using productivity apps, like Trello which Nick uses a lot, you can simply update the cards with instructions/enquiries without taking someone away from what they’re doing, which is what usually happens when you approach someone and talk to them.

Technology makes our work easier.

Ultimately, the key to winning the war against productivity is knowing how to do the following things efficiently:

  • Planning your processes
  • Managing your time
  • Hiring the right people
  • Understanding your company’s data
  • Taking advantage of technology

Another key takeaway is to learn how to let go. Let your team excel at what they are great at. Letting go is the best thing you can do.

The war against productivity can be easily conquered with the right tools. We can help equip you with the right skills and tools to improve your productivity. Join us in our webinar on August 9 at  8 am.

Learn more about our webinar and sign up here.

 


Learning how to be productive at work will help you add value to your clients, which leads to a more fulfilling relationship. If you want to win the war against productivity, call us at 1300 896 522.


How Your Accounting Firm Can Benefit from Social Media

social media accounts will help generate sales
Social media has redefined the way we do business. You need to be ahead of the competition and creating social media accounts can help you accomplish that. When done right it can grow your accounting firm, so consider investing resources in this dynamic and highly effective marketing tool. The question isn’t even if it’s worth ... Read more

Accounting Tips To Effectively Manage Your Time

time management tips for accountants
3-minute read   Things can get really hectic when you’re working with clients. While it should be a good indicator that you’re in a thriving industry, the pace can get frenzy. With looming deadlines and tons of tasks that are still in pending status, it might be difficult to turn in quality work. The answer ... Read more
FREE 1-ON-1 CONSULTATION