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Outsourcing is an operational model that can provide significant benefits to businesses across all industries and sizes. It offers businesses access to skills and resources they don’t have internally. Many businesses use it as part of their strategy to grow and scale, because of the advantages outsourcing can give compared to hiring, training and managing a team of employees.

Here we take a look at the common business functions that can be outsourced, and the mains pros and cons that need to be considered.

Another year is drawing to a close. And hasn’t it been a doozy?!?

COVID threw us all another curveball just as we were thinking we got away lightly in 2020.

For many business owners, 2021 did not go as hoped or planned. COVID presented us with so many challenges:

• Operating under lockdown and restrictions
• Taking care of staff financially, physically and emotionally
• Managing cash flow
• Going digital
• The fatigue that comes from making decisions under so much uncertainty.

Some businesses stalled, while others found new opportunities.

Working with small-medium businesses across a range of industries, we have seen that there are some shared lessons learned from 2021 that are going to shape the way many businesses move into 2022. And what we also see is that, despite the difficulties COVID has created, there is a silver lining. There are many positive outcomes coming from people needing to do things differently.

Here are the five key takeaways from 2021 that we think will have a big impact on businesses in 2022.

There really is something about the arrival of sunny spring weather that makes you feel energised to clean out the cobwebs. Hopefully the craziness of EOFY has passed, and it might have brought with it some good reminders about keeping your house in order, right? Which makes now a great time to look at steps you can take to make your business admin and bookkeeping more manageable...and less overwhelming.

We have done a round up among the Dream Team to bring you the best tips and actionable advice to help you clean up your admin and bookkeeping.

Running a business is tough. It is a constant struggle to divide your time between managing the business, growing the business and actually doing what you are in business for. Which often leads to late nights, working on weekends, or losing jobs because you were unavailable.

With everything already on your plate, the idea of changing the way you do things and implementing new processes can seem overwhelming. But we know from experience that making strategic decisions about outsourcing, automating and streamlining your business admin and bookkeeping can pay off big time. In return for investing in setting things up, you get back multiple benefits. Like cost savings, improved productivity, less stress, better customer experiences and opportunities for growth.

Straw Services Australia is a family-owned and operated business in the agriculture industry. In early 2020 they outsourced their bookkeeping to Dream Admin Services, and then made the switch from MYOB to Xero. In this case study, we look at how Dream Admin Services has supported the growth of Straw Services Australia by providing the financial tools and insights needed for strategic decision making and forward planning.

Taking the step to implement accounting software for your business can be daunting, especially if you aren’t familiar with accounting terminology and concepts. But the benefits are well worth the initial effort. Using software that matches your business needs can save you time, money and stress. Better yet, advanced data reporting and analytics functionality can give you the information you need about your business's finances to make better, more informed management decisions.