Case Study: Enhancing Efficiency and Growth for one Australian accounting firm through outsourcing to the Philippines
Introduction Australian accounting and professional services firms are constantly seeking innovative strategies to optimise operations and foster growth. Two of the major inhibitors for growth across accounting firms are the difficulty in finding talent, especially at the intermediate and senior levels, and the problem of ever-increasing costs. Here is a Profitmaster success story of one […]
3 Tips for Improving Efficiency and Increasing Productivity
Efficiency and productivity are two of the most popular goals among managers today. Everybody wants better results with fewer resources. Because efficiency and productivity are highly sought after they are often mistakenly interchanged. They are two different things, although closely related. The Difference Between Efficiency and Productivity Efficiency is about producing the same output […]
Post-Pandemic Trends in Managing Changing Client Expectations
“The customer is always right” so the adage goes. Which of the versions below is closest to the truth? The customer is always right… even when they are wrong. The customer is always right… until they are wrong. The customer is not always right. The answer is near the end of this article but, for […]
Expert Advice to Help You Succeed in Managing a Global Team Remotely
Virtual teams. Remote work. Outsourcing. Offshore staff. These terms were not used in the business world 10 or 15 years ago as much as they are today. People were forced to work remotely, accelerating the shift to a global team setup. A SocArXiv paper shows that: 80% of global corporate remote work policies adopted virtual […]
How Profitmaster Builds a Healthy Work Environment for Its Staff
We understand that in order for us to be the best in our industry, our employees must first be the best. That is why we encourage our employees at Profitmaster to live their lives to the fullest and to pursue their personal and professional goals. We accomplish this by ensuring that they have a healthy […]
Why Is Communication Important in Management?
Effective communication is critical to productivity and efficiency, whether you run a small business or manage a large corporation. Communication has a significant impact on how well employees collaborate and perform their jobs. However, when it comes to outsourcing projects, it’s critical to be able to communicate effectively with both your offshore team and the […]
Significant Pay Increase in Philippines Projected for 2023 Due to CPI
The inflation rate in the Philippines hit 7.7 percent in October 2022, according to a report released this month by the Philippine Statistics Authority (PSA). The agency said this is the highest inflation rate since December 2008 and was pushed by a 5.4 percent year-on-year increase in the average consumer price index (CPI) for January-October […]
ISO 27001 Security Management Standard: Why Is It Needed?
Did you know many businesses are subjected to new cyber threats on a regular basis? Worse, these threats are continually evolving. According to IBM, the global average cost of data breach in 2022 was $4.35 million. That’s an increase of about 12 percent since 2020. And it’s not just big businesses that are taking the […]
Philippines Outsourcing: Redefining The Workforce
It appears that the majority of organisations are following the trend of global outsourcing. As a result of this shift in how companies source their talent, we’re seeing an evolution in the way people work. Cost-cutting Strategy Outsourcing has been fully embraced by businesses like ours as a viable cost-cutting strategy. As businesses look for […]
How Offshore Staff can Help Australian Firms Achieve Maximum Client Satisfaction
First, you need to hear the “bad news”: 32% of customers will stop interacting with a brand after one bad experience 50% of customers will do so after several negative experiences 60% of customers will switch brands due to unfriendly service These are findings from the […]