5 SMSF Outsourcing myths | Connect Outsourcing

Post / Month / Outsourcing Tips

5 SMSF Outsourcing Myths

Posted by Connect /
in Posts /
Views 2488
5 myths about SMSF Outsourcing

Before you outsource your SMSF, it makes sense to do some due diligence on the business you are going to partner with. After all, your clients need to be taken care of at the same level of service and quality you would offer in your own office. Picking the right partner to outsource with is critical.

Perhaps you have considered SMSF outsourcing for your practice, but are concerned about the risks involved. To help you feel confident about trialling our services, here we address the top five most common concerns about outsourcing.

  • Your data won’t be secure

Connect’s stringent security protocols offer you peace of mind that your client’s information is secure. All your data will remain on your systems, and our staff can only access logins to client information from Connect-secured premises. We operate full antivirus software, and all our staff signs strict confidentiality agreements. We also have a physical security presence at premises both here and in India.

Our staff can’t access any client or practice information outside of the office and we keep no records of any transactions. We don’t allow printing in the office and USBs are not fitted to the work computers so there is no way to access any data outside the secured access point in the cloud.

  • The files will be sent offshore

We know it is standard protocol for many practices to not allow any client files to go offshore. Working in the cloud means our team log into your server to access information, just as your own staff does. So, because we access files in the cloud on your server, the files never actually leave your practice.

  • The outsourced team will lack technical expertise

Our team are all fully qualified accountants.

We recruit our graduates from a top university in Mohali, northern India, where our outsourced team is based, and place them with a senior team member to act as their mentor. The graduates then go through various tax training modules that have been developed by our Australian accounting partner, Tim Davidson.

Most of our 800-strong team have been with us for their entire working life – including our two original hires that are still with us today. By creating a stable work culture we ensure our staff retention levels are very high. This means we can keep building expert and knowledgeable teams and delivering exceptional work product.

  • The outsourced team won’t have Australian experience

With over 800 fully trained accountants on our team, we are one of Australia’s largest and most experienced outsourced SMSF and accounting service providers. We have a specialist SMSF team of accountants who work only on Australian compliance and super funds. Our staff have been trained by Australian accountants in how to complete SMSF returns and are as experienced as any local staff member.

  • The outsourced team won’t have experience with software

We have been in business for over 10 years and are familiar with all accounting software programs. Our SMSF team have been trained in all software products and we are proficient with Class, BGL, and Reckon.

Outsourcing may appear risky, but Connect has honed a model that delivers. We have an experienced, reliable accounting workforce available to take on your SMSF audits and compliance work, freeing you up to grow your practice.

It makes sense to focus your effort on what is important to your clients – giving guidance on super changes and optimising the performance of their fund – rather than spending your time on mundane compliance and administration tasks.

We’ll take the effort out of managing SMSF administration and help your firm retain your profit margins with our outsourced SMSF processing services.

When you work with us, we act as your in-house SMSF outsourcing specialists. Whether you need an extra pair of hands or require a sounding board for complex technical queries, we’re here to provide you with our insight. Get in touch with our team today.