Business Outsourcing: What’s best for YOUR business?

If the last few years have taught us anything, it’s that ‘normal’ for business has been completely reimagined. We’ve established in these last three years of discomfort and uncertainty that there are better ways to get things done – from flexible working arrangements to standard recruitment practices. If you haven’t already, it’s safe to say that now is an excellent time for looking at the nature of your organisation’s current business practices. Are you investing wisely? Or simply doing what’s always been done? Long gone are the days of purely proximity-based recruitment, or even employing staff in-house for tasks a contractor could come and go from as required. Of course, there are pros and cons to any approach and we’re going to take you through them now…


Business outsourcing: The pros

While they may have been extremely challenging, navigating the changes thrown up by the pandemic have led to some excellent opportunities to assess business practices. One of the clearest discoveries is that there is a strong argument for business outsourcing over recruiting in-house employees. Improvement in business’ efficiency and profitability, as well as the chance for all involved to focus on doing what they enjoy most and do best are the clear upshots of outsourcing.

The ability for organisations to mitigate the costs associated with an employee, and the concept of business outsourcing is starting to look pretty appealing. With fewer resources dedicated to recruitment, employee benefits and retention, provision of space, tools and training, and salaries (outsourced workers are generally paid hourly or per project), a greater share of the company’s finances are available to be dedicated towards reinvesting in the growth of the business.

While these financial benefits are certainly a boon to the bottom line of any organisation, one of the biggest benefits by far is that now you are truly able to bring in the ‘best person for the job’, regardless of their location. For the first time, we are no longer being limited by the proximity of candidates to ensure the talent coming through is of the highest level. This means even regional- and rural-based businesses can remain competitive with their urban counterparts, simply by outsourcing their business operations.

Lastly, business owners and employees have more time to focus on their own specialties and areas of interest when business outsourcing takes place. Using the example of our own specialty, our clients are able to focus on the money-making tasks in their business, confident that their bookkeeping services will be taken care of accurately, efficiently and with the utmost attention to detail and compliance.

If you’re ready to make the move to outsourcing your bookkeeping and financial services, there’s never been a better time. Simply call 1300 472 412 to speak with one of our friendly team and move your business forward faster today.

Work from Home Deduction

Work from Home Deduction

The Australian government has recently scrapped the shortcut method for claiming work-from-home deductions.

This method, which was introduced in the 2020-2021 financial year, allowed employees to claim a flat rate of 80 cents per hour for expenses incurred while working from home due to the COVID-19 pandemic.

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Best Business Software: Make 2023 your business’ most productive year yet!

Best Business Software: Make 2023 your business’ most productive year yet!

So another year has come to pass, and more likely than not, you’re picking up exactly where you left off in 2022. Hopefully you’re feeling more rested for a bit of time to yourselves over the festive period. But now comes reality: back to the grindstone. But what if it didn’t have to be a grind? Here at Square Penny, we pride ourselves on identifying the best business software options to make doing what you do best a breeze. Throughout this blog, we’re going to help you get the most out of every workday for yourself and your employees by leveraging our extensive knowledge of the best productivity tools around. We’re going to problem solve as we go, so each set of tools will be based around a challenge that you may be facing in your own workplace right now. Ready to dive in? Let’s go…

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Business planning 101: Your top 5 quick wins before 2022 winds up

Business planning 101: Your top 5 quick wins before 2022 winds up

If you’ve had a year anything like ours, it’s likely the end of the year came more quickly than you were anticipating. Again. With business shutdowns and festivities approaching, many of our clients are spending the next few weeks getting their business ducks in a row before winding down for some hard-earned relaxation time with friends and family over the festive break. How great it is to know that when they switch their computers on for the first time in 2023, they’ll have already taken care of the bulk of their business planning well in advance, and can hit the ground running. Here’s what we recommend you take care of now for a successful start to 2023 for your business:

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Revenue leakage: What you need to know in order to grow

Revenue leakage: What you need to know in order to grow

It sounds like something you may need a doctor or plumber to remedy, but this time it’s your friendly financial service provider. If you’re experiencing a slowing of growth in your business, or simply difficulties with cashflow, the likely culprit is revenue leakage. But what is it, and more importantly, how can it be stopped? Read on to discover the fundamentals of revenue leakage, and what you can do to ensure you’re always on top of your business finances no matter what the week throws at you…

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