OFFSHORING OF
ACCOUNTING SERVICES
IN AUSTRALIA

STATE OF PLAY AND
CRITICAL SUCCESS FACTORS

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REPORT NOW

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ABOUT THE STUDY

Want to uncover the offshore outsourcing experiences and secrets of small and medium accounting firms? This first of its kind research report from Bond Business School (Bond University, Queensland) provides an exclusive inside look thanks to the hundreds of Australian accountants who participated in the study.

Learn from your peers and discover how to outsource offshore successfully from the get go. Get the ten critical steps to offshore successfully according to businesses like yours.

THE PARTICIPANTS

1,225

Survey Participants

1,162

Firms Surveyed

15

In-Depth Interviews

82%

Partners In Their Firms

THE PARTICIPANTS

1,225

Survey Participants

1,162

Firms Surveyed

15

In-Depth Interviews

82%

Partners In Their Firms

RESEARCH SNAP SHOT

89%

of those who offshore say that selecting the right provider is a critical success factor

83%

of those who offshore to the Philippines are satisfied with the cultural fit

87%

of those who offshore are satisfied with the quality of work being delivered

63%

of offshoring firms are planning to increase offshoring activity in the next two years

LESSONS FROM ACCOUNTING FIRMS THAT OFFSHORE

“We started offshoring simple tasks but have over the years successfully increased the level of complexity of what we send overseas.” [Interview #4]

“The quality of our offshore staff is great and they tend to work best with clear direction, so anything we throw at them that is structured like individual tax they do just as well if not better than our in-house staff.” [Interview #2]

“Offshoring enables us to plug capacity gaps and that means that we can better manage our workflows…” [Interview #12]

LESSONS FROM ACCOUNTING FIRMS THAT OFFSHORE

“We started offshoring simple tasks but have over the
years successfully increased the level of complexity of
what we send overseas.” [Interview #4]

“The quality of our offshore staff is great and they tend to work best with clear direction, so anything we throw at them that is structured like individual tax they do just as well if not better than our in-house staff.” [Interview #2]

“Offshoring enables us to plug capacity gaps and that means that we can better manage our workflows…” [Interview #12]

CRITICAL SUCCESS FACTORS

Based on the survey results and in-depth interviews with accountants who outsource offshore, Bond University set out the 10 critical factors for a successful offshore experience. Here’s a snapshot – download the report for the full blue print:

1

Getting onshore team comfortable with offshoring

Build rapport between your onshore team and offshore one to reduce cross-cultural issues.

2

Selecting the right offshore provider

Get in touch with multiple providers to set a benchmark. It will help you find the right one.

3

Start by hiring senior staff

Hire someone reliable and trustworthy to lead your would-be team to easily cascade everything.

4

Handover, training, and open communication

Facilitate a smooth transfer of tasks and processes to your offshore staff with the help of your provider.

CRITICAL SUCCESS FACTORS

Based on the survey results and in-depth interviews with accountants who outsource offshore, Bond University set out the 10 critical factors for a successful offshore experience. Here’s a snapshot – download the report for the full blue print:

1

Getting onshore team comfortable with offshoring

Build rapport between your onshore team and offshore one to reduce cross-cultural issues.

2

Selecting the right offshore provider

Get in touch with multiple providers to set a benchmark. It will help you find the right one.

3

Start by hiring senior staff

Hire someone reliable and trustworthy to lead your would-be team to easily cascade everything.

4

Handover, training, and open communication

Facilitate a smooth transfer of tasks and processes to your offshore staff with the help of your provider.

ABOUT THE AUTHORS

PROFESSOR KEITH DUNCAN

Keith Duncan is Professor of Accounting and Finance at Bond Business School, a Director of Founders Forum and has also served on the Advisory Board for the John Heine Entrepreneurial Challenge and the Gold Coast Innovation Group. His research interests span auditing, governance, finance, financial accounting, and strategic management.

DR. TIM HASSO

Tim Hasso is an Assistant Professor of Accounting at Bond University. He performs research in the intersection between corporate governance and accounting, with a particular focus on family-owned firms. His research has been published in the Journal of Business Ethics, the Family Business Review, and the Australian Accounting Review.

DOWNLOAD FULL

REPORT NOW

Download now and receive our complimentary 10 part educational email series with in-depth insights and analysis.

AUSTRALIA

43/52 Parramata Road

Homebush

NSW 2140

Australia

PHILIPPINES

Level 36 Cyberscape Gamma

Topaz & Ruby Roads

Ortigas Center, Pasig City

Philippines

HONG KONG

Suite 2Level 12A
Enterprise Building
228-238 Queen’s Road Central
Hong Kong

ENQUIRIES: 1300 00 22 22

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