Grow your accounting firm with offshore
Skilled, highly-qualified and affordable finance professionals are within reach of small and medium accounting firms thanks to accountant outsourcing.
Staff Domain believes that Filipino accountants are among the best in the world. They are also exceptionally good at working with foreign clients. The presence of major Australian accounting firms in the Philippines, such as Ernst & Young and KPMG, has created a talent pool of experienced resources for offshore small business accounting tasks.
For privately owned businesses that are struggling to find or retain the right talent, Staff Domain can close the talent gap. An outsourced accountant from Staff Domain will be familiar with local industry best practices, accounting software, local regulations and requirements. They will even have experience working with firms just like yours.
Being an English-speaking country allows Filipinos to effortlessly communicate and collaborate with their clients and teammates in Australia. Hardworking, dedicated and results oriented, you’ll wish you found your new offshore accountant sooner.
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Why hire an offshore Filipino Accountant?
You’re bound to find the right fit
Filipino accountants are educated, skilled and highly qualified. An average of 7500 new Certified Public Accountants (CPAs) join the accounting talent pool each year. There are 188,203 CPAs in the Philippines as of 2018. Filipino CPAs can also become associate members of the Australian CPA via a member pathway agreement. This means that you can hire an offshore accountant from the Philippines with local accreditation.
With a large talent pool and Staff Domain’s ability to attract and retain great talent, recruitment issues will be a thing of the past. You’ll find yourself hiring your second or third accountant before you know it.
Enjoy huge savings on labour costs
Firms come to Staff Domain to bridge a talent gap or scale and get an added bonus – low costs. Low labour costs are one of the huge benefits of outsourcing accounting services.
A general accountant can receive a salary of between AUD$150,000 to $200,000 for a basic accountant role. A senior, more experienced accountant in the Philippines can attract a salary of AUD$60,000. That means clients get even more skills and capabilities for less money. Outsourcing accounting functions can make a big difference to a small firm.
Staff Domain’s accounting clients typically use the labour savings to expand or grow other areas of the business or help keep the business financially viable. If you’re a small accounting firm, you can take on more clients by having offshore accountants handle the time-consuming and repetitive tasks. This allows you and your other staff to finally put more focus on developing your client relationships and building the business.
You’ll gain a new location thanks to your accounting outsourcing
Staff Domain has a state-of-the-art office where all your offshore accountants will work. The facility is yours and your teams to use as required through the course of your business.
You and your team will have access to our meeting rooms and training room. Your employees will be provided with business grade computers, high speed internet, a comfortable workspace and recreational area, as well as given a salary and benefits package that complies with and exceeds Philippine labor laws.
Of most importance, your data, privacy and security will be ensured. Staff Domain utilises the best technology and has strict procedures and policies in place to make sure that your IP is protected.
Trust accounting services require specific training on trust accounts and taxes. This specialised position is in great demand locally so if you’re on our website, chances are you can’t find the right person or can’t afford the high salary.
Offshore Accounting Services is a good solution to the trust accountant talent gap. It has brought countless benefits to thousands of small and medium accounting firms in Australia and New Zealand. In the past decade, the number of SMBs sending work across borders has increased significantly due to the positive experience of larger, more established firms in this space.
Specialised positions like certified forensic accountant, are often the hardest ones to fill, due to a shortage in skills. Not just in Australia and New Zealand, but many other developed countries.
The Australian Department of Jobs and Small Business reported a continued shortage in Accounting professionals from 2017 to 2018. On average, 14 accountants applied for one job opening, but the majority of them were considered unsuitable.
Accounts receivable outsourcing is a cost-effective way to improve your cash flow. Invoice on time and do away with the repetitive and often uncomfortable need to chase clients for money by adopting accounts receivable management services from Staff Domain.
Cash flow is king in any business, but especially small to medium businesses where effective accounts receivable management is critical. Slow payments choke businesses and hinder the ability to grow or invest. The trick is finding someone who can collect on invoices firmly without straining the customer relationship.
Accounts payable may be taking up too much of your accountant’s time. Perhaps you have already identified you need a full-time staff member in that position. Regardless of your circumstance, by turning to an accounts payable outsourcing solution, you’re going to see positive change in your business.
By offshoring small business bookkeeping tasks like accounts payables, you can have a talented employee focusing full time on your cash flow. Don’t just pay bills, have them planned out, supplier relationships effectively managed and your money trail clear, and clean.
For a small to medium accounting firm or a department of a similar size – payroll is a big task and often a drain on accounting staff. Whether that be managing timesheets, the preparation of pay slips, group certificates, salary payments, super management or leave accruals.
All payroll tasks can be conducted by a fulltime offshore payroll employee that you choose, and you manage.
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Hear on-demand research analysis directly from the researchers behind Bond University’s ‘Offshoring of Accounting Services in Australia’ report. Listen to anecdotal stories from Aussie accounting SMEs who took part in the Offshoring Research, as you get views and guidance from an offshoring expert.
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