There are many challenges a small business faces. Accounting firms are no exception. Based on a recent survey from Accounting Today – the topmost industry concerns are the impact of new technologies and the ability to adapt to the rapid change of pace. Interestingly enough, one emerging solution tackles these two main concerns in the most innovative way.
This is offshoring.
THE BJT DISTINCTION
One firm has found success in finding solutions for these challenges with the offshoring model. BJT Business Advisors, a firm based in Victoria, Australia, prides itself with providing a personalized financial advisory relationship with its clients. But getting bogged down with the minutiae of solution-finding is a regular occurrence, and so the ability to go in-depth with clients falls by the wayside.
They needed a solution to service their growing client base while keeping costs down. Unfortunately, doing so would come at a considerable resource of both time and money, something that most, if not all small businesses are careful in doling out.
That’s where TOA Global comes in.
GLOBAL SOLUTIONS FOR LOCAL ISSUES
With two offshore team members, BJT found themselves with the ability to focus on what really matters to the firm. Something they have built their entire core competency upon.
“By having an offshore team, it allows us to move away from that ‘compliance’ model to the ‘advisory’ model, which is what we like to do.”
And this aspect translates to the company’s team relationship as well. The most satisfying aspect of offshoring is the fact that they feel like a member of YOUR team, and not just a faceless number-cruncher from across the sea.
“Our offshore team members feel like family. Any interactions with our team here and with our clients in Australia has been no problems. It’s always been fantastic.”
With a growing client base, the demand from the team will grow as well, which undoubtedly puts a strain on the group. But by freeing up certain tasks and processes, the onshore team can focus not just on getting the job done, but also on providing planning and guidance, something that BJT prides itself on being forward with.
“Being involved with TOA and with the offshoring model, it has allowed us as business owners the freedom and the ability to make choices. And it allows us to have a better business and a better life too.”
The Outsourced Accountant helps accounting firms from all over the world grow their capacity, margins and profits through global outsourcing. Contact us to find out more about how we can help your firm.