Accountants Daily Podcast Network Momentum Media

A bids and tender specialist has seen a dramatic increase in small to medium accounting firms bidding for government contracts in the past year.

In this episode, Jason Cooney, director at The Tender Team, explains why smaller accounting firms have become more courageous with bids for government contracts more recently and some of the reasons for their success.

Cooney discusses the types of contracts that smaller accounting firms are winning and how they can stand out from other competing firms.

He also offers tips and considerations for the tender process and how firms can prepare to make the process smoother.

Michael Fingland explains the vital role that stress testing can play for businesses in an economy "teetering on the edge of recession".
In this latest episode, Vantage Performance chief executive Michael Fingland gives a rundown on the concept of stress testing and how businesses can utilise this strategy to prepare for further headwinds in the year ahead.
Fingland explains that with consumer spending pulling back and the economy softening, businesses should be analysing what outcomes might arise with a dip in cash flow, a drop in revenue or with other, more specific, challenges.
Businesses can then put in a place a “rapid-fire turnaround plan” that can be implemented if any of these scenarios happen, he says.
He also provides his predictions on business conditions for the remainder of 2024 and what the main challenges will be. 

Heather Smith and Tyler Caskey delve into the latest technology transformations and feature and functionality updates for the start of the year.
In this episode, accounting apps specialist Heather Smith and Tyler Caskey, partners at TheBeanCounters, discuss recent developments in real-time banking transactions, direct digital receipting and multi-currency transactions.
They also explore updates and new features in the reporting space across cash flow forecasting, automatic workflows, intercompany loan reconciliations and ESG.
Heather and Tyler also chat about some of the big announcements in the accounting tech space including the launch of WorkflowMax by BlueRock and Xero ending classic invoicing later this year. 

There are so many amazingly successful women in the finance industry, but only a small number have a strong brand and online presence in this traditionally male-dominated industry. 
 
As we celebrate International Women’s Day, we want to help more women raise their profile and showcase the incredible professionals in this space.
 
In this episode, partnered by Mortgage Choice (part of the REA Group), we’re picking the brain of its executive manager, corporate communications, events & franchise marketing, Sally Chadwick, to find out:
How to build a brand presence.  The benefits of having a strong brand presence. Top tips to help you get started today. And much more!

Family businesses ripe to pass on often need help after getting stuck in their ways, says the principal of a financial advisory firm.

A spike in succession planning in the wake of COVID-19 has created a wealth of opportunities for advisers and virtual CFO services, says one finance specialist.

Principal of iFin Capital and iFin Advisory, Nathan Hogan, said some strong family businesses got stuck in their ways and needed some help to make the transfer.

“We’re seeing a real spike in the last 12 months of this activity of passing on things to generations,” he said on the latest Accountants Daily Insider podcast.

“A lot of it really is around really good family businesses that have done well and generally they’ve had an internal finance manager or someone who’s started as a junior and worked their way up.

“Sometimes those businesses have the biggest issues because there has been a bit of inaction for a long time and they might not be looking around the corner as much as you would like to see from your CFO.”

Outsourcing will be part of the answer for some, but finding a senior locally will remain a problem, says Trent McLaren.

The accountancy profession looks in vain for a talent shortage silver bullet and some firms face a tough decision about whether outsourcing is part of the answer, according to the co-founder of marketing and sales consultancy, Journey, Trent McLaren.

“When we say there is a shortage of accountants, we're saying there's a shortage in Australia, right?” he said on the latest Accountants Daily Insider podcast.

“There are people in other countries that are happy and willing to do the work that our new generation of people don't want to do.

“This is something that some people will have to either bite with, say either I don't want to do any more work, I don't want to win any more fees … or they're going to see more people embrace this global, remote teams type environment, where my team member is just based wherever they need to be.”

“There's no silver bullet. That's the thing. Even if I go and load up on offshoring outsourcing, there's still a capability piece that I'll have to draw a line on at some point.

“I'm still going to need a senior at some point locally.”