Grow your accounting firm with offshore
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.
Staff Domain helps small and medium accounting firms in Australia and New Zealand find and retain experienced accounts receivable management staff from the Philippines. From one employee to an accounts receivable team, Staff Domain will ensure you have the best people focusing on your accounts receivables and timely follow up of all unpaid bills.
Your offshore accounts receivable officer will ensure your invoices are sent on time, payment is collected on schedule and accurately reported, and that your practitioners are not interrupted from their day-to-day duties.
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Why offshore accounts receivable management services?
Limited cashflow is a common challenge for small and medium accounting firms. Slow invoicing and delayed payment collection can lead to big, stressful issues such as overdrawn accounts and unpaid bills and vendors.
Chasing after clients to pay invoices is also a time-consuming task. For many businesses, this eats up valuable time for key players who are doing more important, billable work.
Offshoring work to the Philippines where labour costs are low and talent options are high, offers the perfect solution. Staff Domain can help make you cash flow positive.
Cutting costs and maximising savings
Accounts receivable outsourcing means you can leave the recruitment and interview process to us. Staff Domain will help you define the role and required experience. We will manage the advertising and pre-screening and share with you a shortlist of qualified applicants for final interview.
You will quickly notice just how much lower the salary costs are. In Australia and New Zealand, entry-level accounts receivable specialists earn an average of AUD$58,000 a year and up to $130,000 for senior roles. Compare that to less than AUD$30,000 a year for the salary of an experienced accounts receivable management resource in the Philippines with equivalent qualifications.
When you choose Staff Domain to manage your talent and recruitment needs, you get more than great staff. You and your team will gain a state of the art office facility. Your employee(s) will have access to the best technology and telecommunications, high speed internet, spacious workspace and access to our training and meeting rooms. Their hours will reflect your office hours to ensure you have access to one another through out the business day.
Staff Domain’s offshore accounts receivable management will give your business a genuine boost. The cost savings can help reallocate resources, improve cash flow, and allow you and your core staff to focus on tasks which add value to your business.
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.
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.
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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Bond University's Latest Offshoring Research
Looking to offshore accounting tasks? Learn why this first-ever study lets you put your best foot forward toward a successful offshoring journey. Find out why we chose to partner with Bond University, as we bare some of the report’s on-demand findings and insights.
Offshoring Research Webinar
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.
Locked down, set up and 100% operational
It took quick thinking and moving, but it was the team effort that made our Work From Home roll out a success. Within 24 hours, all staff were set to be 100% productive (and most importantly safe) from home. Much to the delight of our supportive clients.
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