The most frequently asked question we get at conferences, exhibition and events is, “I’m considering outsourcing.  Can you please let me know how it works with you?”.  As we are called Intelligent Outsourcing, the question is a fair one.  We reply that offshoring is the intelligent way to outsource.    Let me explain.  The terms "outsourcing" and "offshoring" are often used interchangeably, leading to confusion. While both concepts involve the delegation of tasks to external entities, they differ significantly in scope, geography, and strategic intent. So, let’s have a closer look at the difference between outsourcing and offshoring and the…

In the ever-changing landscape of accounting, accountants are increasingly turning to offshoring as a strategic tool to enhance efficiency, reduce costs, and stay competitive. Outsourcing bookkeeping, tax returns, VAT, and accounting functions to offshore locations, such as the Philippines, has emerged as a game-changer for UK, European, UK and Canadian accounting firms.  Offshoring offers many benefits which go beyond simple, yet attractive, cost savings. . Cost Savings The most apparent advantage of offshoring bookkeeping, tax returns and other accounting tasks is the substantial cost savings. The UK has a high cost of living and an associated high cost of labour.…

The need and ability to constantly innovate is widely recognised as one of the major contributors to business success. Innovation is vital for the UK’s economic growth, productivity and prosperity. The Innovation Awards recognise, celebrate and reward the businesses, organisations and individuals who are dedicated to innovation.  iO is delighted to have been voted as a finalist in the Services Innovator of the Year category in the prestigous Innovation Awards. Here is why iO was selected:  Innovation is the driving force behind the growth and prosperity of businesses around the world. It propels organisations to stay ahead of the competition,…

Even trying to achieve the ideal work-life balance can be stressful. The good news is that stress and leading a fruitful life can occur if you are experiencing the strain of growing your business while maintaining your lifestyle. You can find the balance that works best for you if you are mindful. How much stress is beneficial for you? The goal is to prevent your stress levels from pushing you down the other side of the bell curve, as demonstrated by the Yerkes-Dodson rule, which states that an individual's performance increases with stress until cortisol levels get too high and…

Good leadership is vital for a successful business.  Whether you have 1 or 100 employees, as a practice or partner, it is key that you have good leadership skills.   Practice owners and partners need a number of attributes in order to manage their team members and run their business successfully.  One of the vital attributes is leadership.  Some people are natural leaders, but anyone can develop the skill set needed with some practice.   Here are the nine leadership qualities that anyone hoping to succeed in business requires: Management and Organizational Skills As an accountant, you are used to managing…