INTHEBLACK August 2024 - Flipbook - Page 38
F E AT U R E
“We thought that the concept of helping the small accounting firms
in this way would give them some leverage, enable them to compete
with larger firms and level the playing field.”
DARLOW PARAZO FCPA, DBA GLOBAL SHARED SERVICES
LOOKING AHEAD
At DBA Global, Parazo says that
developments in technology to facilitate
remote learning give Filipino accountants
the opportunity to understand and work
with the Australian regulatory environment.
Ultimately, Parazo says that as the
company matures the goal is to “reverse
rebrand” the firm, so that it is seen not as
a BPO outsource provider in the Philippines
but as a “proper international practice”.
In turn, this will help the firm attract
higher calibre staff, because – like in
Australia – there is a battle to attract
the best accounting talent in the Philippines,
and reputation and brand are becoming
increasingly important.
“We have coined the term ‘practitioners
without borders’, and I think that is a good
description of what we are aiming for,”
Parazo says. “We think that is the future
of professional services.”
GROWTH STRATEGY
Liston Newton Advisory is an Australian
firm that has gone beyond accessing
the Philippine BPO capability to make
a deeper investment in the country.
The Melbourne-based firm is on
a growth path with plans to double
its revenue to at least A$16 million
by 2027. Investing in the Philippines
is part of a strategy that includes the
acquisition of smaller Australian firms.
CEO Peter Antonius CPA says
Liston Newton began its engagement
with the Philippines through the traditional
BPO route. As its needs have increased,
so has reliance on the capabilities
provided by BPO, and Liston Newton
has now established a subsidiary firm
in the Philippines.
Antonius says the decision was driven
by scale. A wholly owned subsidiary was
the chosen model, though several options
were considered. It is this entity that now
employs 11 Filipino staff, with an Australian
headcount of about 40.
Liston Newton also takes advantage
of working from home and does
not maintain a physical office in
the Philippines.
38 INTHEBLACK August 2024
Most employees work within a 20-kilometre
radius of Manila, with some in the southern
part of the archipelago around Davao.
Liston Newton functions from several
offices outside of its Melbourne head office,
so the Philippines operation “feels no
different” from other staff who work locally,
Antonius adds.
Like Parazo and BPA, Antonius says his
firm sees the Philippines as a location for
skills and talent.
“When we first started, the roles we were
filling were typical back-office functions, but
as we increased our presence, we found that
our growing brand gave us access to better
talent,” he says.
“Some of the people we employ are CPA
qualified, and some have worked for the
Big Four or for other Australian accounting
firms, so they know the Australian regulatory
outlook as well.”
Antonius says the other side of the equation
is the “ongoing challenge” around talent within
the accounting profession in Australia.
This means that firms wanting to
grow rapidly have to look at how they
can augment their talent base, and the
Philippines is a natural fit.
