Working remotely is here to stay which is especially true for the accounting industry. Hiring remote staff from the Philippines has become increasingly popular amongst accounting firms and for good reason. Offshoring or the process of hiring staff overseas has brought many benefits to Australian practices and has helped them address the skills shortage in the country.
READ MORE: 5 Benefits of Offshore Accounting in the Philippines
Many accounting firms have even gone as far as setting up a remote team offshore.
The Remote Accountant’s (TRA) CEO and Founder, Craig Allen FCPA FIPA CA, has employed a remote team of accountants, admin staff and marketing staff since 2017. This has greatly boosted the performance of his accounting practice.
If you are still trying to decide about offshoring, this article will discuss what a remote team can bring to your accounting practice and more.
Great Talent
The biggest benefit of hiring remote team members overseas is having access to highly skilled accountants and bookkeepers. A remote workforce means that you are not limited by location– you can hire in countries like the Philippines where their education and skill are on par with Australian accounting standards.
The excellent educational background and skills in the Philippines make it an ideal location for remote staffing. The people are fast learners who can easily adapt to new processes and technologies. Moreover, their work hours can easily be adjusted to that of Australian accounting practices as the time zones are similar.
One of the things that set TRA apart from other service providers is that we test all candidates with an Australian-standard accounting test that is specially developed and written by Craig. This allows us to find highly skilled staff from all over the Philippines and increases the chances of finding the right staff for your practice.
Diverse Work Environment
Many accountants refrain from offshoring for fear of having communication and security problems. However, when given the right tools and a dedicated offshoring provider, these fears can easily be addressed.
You can now utilise various workspace and video conferencing applications to ensure smooth communication with your remote team. Through regular video calls and employee engagement activities, you can establish a strong working culture and relationship with your team even without meeting in person. More importantly, you get a highly talented team of people from different backgrounds and cultures.
Greater Operational Efficiency
Most offshore staff work from home which greatly boosts their performance at work. Study shows that people who work from home are 47% more productive and spend 10 minutes less a day of unproductive work. This allows you to get more work done on time and, in turn, more profit.
TRA offers its team members a permanent work-from-home setup so they not only get increased productivity but also a better work-life balance. That said, we ensure all team members have a conducive home office and a stable and fast internet connection. If they prefer not to work from home, we can also accommodate on-site and hybrid work setups.
Faster business growth
Labour costs in the Philippines are cheaper due to the lower cost of living which means minimal operational costs and more profit to your business. Lower operational costs also mean it is easier for accounting practices to scale their virtual team and grow their business sustainably.
Moreover, offering staff a flexible work arrangement (permanent work-from-home) promotes job satisfaction which is an effective way to retain staff.
What roles can you hire in your accounting practice?
You can hire various roles in your accounting practice depending on your needs. It’s best to use an offshoring provider that specialises and is experienced in the accounting industry.
TRA, for one, is dedicated solely to accounting practices and businesses in Australia. Since we are headed and managed by an Australian accountant with over 30 years of experience in public practice, we understand your needs and the staffing issues you face.
We can help you find highly skilled staff for a wide range of roles including:
- Tax Accountants
- Bookkeepers
- Paraplanners
- SMSF Accountants
- Administrative Assistants
- Executive Assistants
- Marketing Coordinators
READ MORE: 5 Offshore Roles You Need in Your Accounting Practice
Experts In Managing Remote Teams
There’s more to managing remote staff than meets the eye which is why a good offshoring provider is essential for long-term success.
TRA provides Australian offshoring solutions to accounting practices and business. Our solutions include comprehensive recruitment, IT, human resources and staff management. Given our expert remote managers and industry experience, we can help you find and train offshore staff, as well as mentor you on how to effectively manage people in your team.
Ready to start your offshoring journey? Get in touch with us at 1300 614 110 or email info@remoteacc.com.au.
