As the world adapts to the impacts of COVID-19, remote work has become the norm. Offshoring solutions from countries like the Philippines have made managing remote teams become more accessible and beneficial for businesses worldwide. 

However, there are still a lot of myths and misconceptions surrounding offshoring. Because of this, some Australian businesses choose not to form an offshore team despite their struggle to find qualified staff in Australia. 

If you are in need of Australian offshore solutions but are still hesitant to do so, this article will debunk some of the myths about offshoring. 

Many business owners think that offshoring is “un-Australian” because it takes jobs away from locals but data suggests otherwise. Research by the Organisation for Economic Development and Cooperation (OECD) found that “job losses through outsourcing to overseas companies do not seem to be substantiated” and that “Australia is a major beneficiary of the offshoring activities of other countries”. 

Offshore team members are not intended to take away jobs from your onshore team but, rather, to provide them support. They can help with tasks that some onshore staff may not be too keen on or are overqualified to do like administrative, basic accounting tasks, data entry and secretarial tasks. This enables onshore staff to improve service quality and add value to their clients.

Australia is a multicultural country that depends heavily on international trade. If you’re still not offshoring, your business may be losing out on its competitive advantages. 

Uncommitted staff is a risk that not only applies to offshore staff but also to onshore ones. However, there are many ways you can manage remote workers and ensure they’re doing their jobs properly. Project management and productivity software can help you track and distribute tasks easier. 

It’s also best that you conduct regular huddles or team meetings with your remote employees so you can stay informed about the jobs they’re working on. The Remote Accountant is an expert in best practices for accounting firms. 

One of the biggest factors that drive businesses to offshore is that it’s highly cost-effective.  Due to the lower costs of living in countries like the Philippines, businesses can save up to 70% on labour costs. This means that you can get tasks done for only a fraction of the cost.

You can start by listing jobs they need to do and even add some non-core tasks. Filipinos are very service-oriented, flexible and good at multitasking. Offshore accountants, for example, can do more than the usual accounting tasks– they can also help with ASIC secretarial duties and other administrative or client services tasks. 

Some business owners are hesitant to offshore because they fear they may not have the time to train staff properly. They think it would be easier to do all the tasks themselves which may not be a sustainable solution. The fact that you don’t have time to train means that you are already at full capacity. 

Training offshore staff can be time-consuming but it is an investment that can help you save on labour costs in the long run. Luckily, The Remote Accountant has detailed guides and offers a mentoring program on how to efficiently train offshore team members to get them productive as soon as possible. Furthermore, we also offer additional practical training to team members when required. 

As mentioned earlier, Australia is a multicultural country that depends heavily on international trade. Many large companies have been offshoring for a long time and they have seen great results and their customers have become accustomed to it. 

Specifically, in the accounting industry, prominent accounting firms use offshoring in large numbers which have had the flow-on effect of reducing overheads by  25-50%. Customers have, in turn, benefited from competitive pricing and increased service levels.

Whether onshore or offshore, there is no guarantee that staff won’t separate from your business. However, the risk is always greater and more expensive for onshore staff since offshoring is more cost-efficient. 

Onshore staff can also start their own business and compete against you– something you can rest assured that offshore staff cannot do. 

Since the pandemic, large numbers of staff have started working from home which is a big security concern for some businesses. However, there are various techniques and technologies you can use to ensure your data is safe even though your staff is working remotely. Among these are using a two-factor authenticator, storing files in an exclusive server or having staff sign confidentiality agreements. 

Moreover, most offshoring companies are ISO Certified which means that they are compliant with information security standards. The Remote Accountant, for one, follows the APES GN 30 standard in outsourcing services which ensures that the information security measures adhere to applicable legal and regulatory obligations in Australia.   

Offshoring is a sustainable staffing solution that can help your business increase capacity, improve customer service levels, and scale your business cost-effectively. 

We at The Remote Accountant are offshoring experts in finding accountants for Australian businesses. We are accountants! A CPA-qualified public practitioner heads our company so we understand exactly what you are going through daily before we even speak. We specialise in recruiting and inducting staff on how to do work for Australian practices, as well as mentoring business owners on how they can successfully manage their remote teams.