SMSF accounting – why you should probably outsource to a specialist – http://t.co/3UcNnbmZfI
— Superfund Wholesale (@SF_Wholesale) August 3, 2015
SMSF administration outsourcing trends and options
- Faster speed to market compared to building a service offering from scratch
- Higher quality, more consistent service delivery
- Less key person risk
- Lower delivery cost compared to utilising in-house resources
When businesses are weighing up the pros and cons of outsourcing certain tasks, they also need to also consider the opportunity cost of what could be done if they employed their existing resources into other areas of their business. This factor is often ignored when considering the benefits of outsourcing. Offshoring is a subset of outsourcing and the terms are often confused and used interchangeably which is inaccurate. Offshoring is a specific form of outsourcing where business tasks happen offshore, typically followed by a local review and final delivery to theend customer. Offshoring of accounting functions such as SMSF administration also seems to be the current hot trend in certain accounting circles.