100% more capacity, meaning they could double their revenue without any increase in staff (and or less than $30,000 per month) Some of the most common roles to outsource include:
- Corporate secretarial and ATO correspondence management and work
- New entity set-ups
- Client service roles – from engagement agreements to ethical letters to database management and tax lodgments
- Executive assistants
- Marketing roles (one firm has 7 marketing roles)
- SMSF tax and compliance
- Personal tax returns
- Business tax returns
The simplest way to start is to look at your current workflow blockages and to work backwards. If your accountants are doing too much administration work, outsource your current client service work offshore. This will free up the administration staff to take more of the clients’ follow-up work from the accountants, thus helping them become more productive. Once the firm gets this right, it can work towards doing this for all roles within the business. Before you jump in and start, it’s best to set up a strategy around where you want to take it and a path to getting there. Filling gap is a short-term solution, not a long-term strategy.
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.