The Covid pandemic has taught us a lot of things, one of which is the value of spending time with family and loved ones. The global health crisis transformed the way we do our businesses, and it pushed company owners to think of ways on how to become productive with much consideration on employee well-being. Intelligent Outsourcing recently implemented a four-day workweek schedule for its team members in exchange for the work from home (WFH) setup after the threat of the Covid pandemic has leveled off. Arguably, Intelligent Outsourcing is one of the very few companies in the Philippines who…

It is essential to invest time and resources in team member training. Your team members will feel appreciated, empowered, and involved with your company's mission when they see that you care about their future. That is excellent news for your team's morale and satisfaction scores and not to mention for the workforce's overall productivity.Investing in your team members' futureIf you want great things from your team, you’ve got to give them the very best support. A job is not a fixed thing. The role will evolve and change over time with new skills, responsibilities, and job descriptions.To offer your team…

Accounting methods and trends are always evolving, particularly as new technologies are developed. The development of new technologies combined with evolving client demands means that business needs and practices have altered over time. Today, accounting involves much more than just bookkeeping and ledgers. New solutions are being embraced by accounting companies in order to keep up with the times and better meet client needs.  High inflation and increasing interest rates means that clients demand more for less. Offshoring is the ideal approach to lower expenses, increase efficiency and profitability as your accounting practices expand. The trends listed below will help…

You may have noticed my headline on LinkedIn is “Let us be your Hamster and save you time to grow your business or allow you to breathe” and that I use #hamster for sign off on LinkedIn.You will no doubt think it is odd…..you may think this Nikolai Naylor is an accountant with an accountancy practice and an outsourcing offshore business, why on earth would he use #hamster and have such a weird headline.So let me tell you the story behind #hamster.I talk to a lot of accountants and the two things most complain about are:1.     Working too many hours and running around like a “hamster”…

Are you considering offshoring for your accounting practice? Building your accounting team might be challenging because you need to identify potential employees with the best accounting knowledge and qualifications.You can hire highly-qualified accounting team members using offshoring. By using an offshore team, you can lower expansion risks and costs.These are the three points to think about before exporting your accounting process to the Philippines, if this has piqued your interest and you are now considering it:Cultural perspective and differencesBusiness owners rarely consider cultural variations while offshoring accounting to another nations. Filipinos have adapted to Western culture partly because English is…

Offshoring is very appealing if you're searching for ways to reduce costs, increase efficiency, and concentrate more on your core business.  However, not all countries are the same and it is important to choose the right one for your offshoring needs. Although cost reductions are important, successful offshoring requires much more than a focus on the lowest cost. In fact, choosing the cheapest can be a very costly mistake.  Other factors must be considered, such as culture, work ethics, the state of the economy, government support, fluency in English and the educational levels of the team members.The Philippines continues to perform…

Managing people from different countries, where attitudes, careers, families and work-life integration might vary widely, can be one of the biggest challenges in the evolving workforce. The effective management of your team can be greatly increased by your understanding of and ability to manage cultural differences. Finding the best strategies to manage these differences can be accomplished by researching the challenges and best practices as well as working closely with your managers and speaking with your employees to better understand any concerns they may have. Why is it important to understand cultural differences? Managing a diverse workforce requires understanding the…

You have possibly looked into outsourcing vs. offshoring while searching for solutions to boost the productivity and profitability of your accounting business.  But how are outsourcing and offshoring different? Although outsourcing work is less expensive than doing it internally, the person conducting the work will never be a member of your team and will just do the work that has been agreed upon. Because the people doing the work for you will vary task by task, the quality varies, and any feedback you provide is only temporary because someone else will probably do the next task. Additionally, you must oversee…