How Oyster Hub Team Navigated Through The COVID-19 Pandemic With QuickBooks Online
By Adarsh Dutt
As the world enters a global lockdown and a different paradigm, Oyster Hub is constantly adapting to the changes in conducting business with staff, customers and business partners and the like. Many organisations that were not setup to work online or remotely are increasingly finding it difficult and more so impossible to carry on the daily schedules of client and customer services delivery.
Navigating through the Economic pandemic with Oyster Hub & QuickBooks Online
Whilst the entire world entered a health pandemic, it was evidently clear to our leaders and those around the world that the economic consequences would be far reaching and much more disruptive in people’s lives.
The Morrison government started propping up the Australian economy with various covid-19 stimulus packages around employees, tax and investments and as such the demand for clear and concise Accounting services started to increase. Business were now looking at Accountants as the interpreter between what the government was saying and how it directly or indirectly related to or impacted them. The delivery of the stimulus package was being pushed through the ATO and the ATO in turn relied heavily on Tax Accountants to be the key for timely and accurate lodgements for Business to receive these benefits.
Demand for Accounting & Advisory Services started to increase as Businesses sought out Accountants that were cloud based, technologically savvy and intellectually competent. Tax Accountants, Job keeper, cashflow, stimulus package, rescue etc became the most searched words on google as Business scurried to get their houses in order. It was not a matter of revenue generation or profitability but a survival instinct for all small to medium businesses around Australia and the world.
Oyster Hub was not immune to these dire times
Adarsh Dutt one of the co-founders of Oyster Hub, was overseas on a holiday when all these started unfolding. He cut his holiday short, flew back into the country at great personal expense and entered a mandatory 14-day self-isolation period as was required. Did he stop working? No!
Oyster Hubs systems and software capabilities meant that any one of our staff could access our Sydney based server from anywhere in the world due to our cloud based technological systems and processes. Adarsh was able to leverage off Quickbooks online to meet these demands for stimulus package. He was as effective in isolation as he was ordinarily in the office. Zoom meetings, WhatsApp & Facetime became more and more a tool of necessity than one of luxury.
Oyster Hub and Adarsh Dutt always had been pro-active in this area and as a trusted Quickbooks Advisor was able to turn lazy Accounting and Bookkeeping tasks into Value added services for his business. The key to delivering such functionality and ability to execute came from Quickbooks Online. Oyster Hubs Virtual CFO Advisory role became paramount and was delivered with ease using QuickBooks online and various Quickbooks reporting and analytical capabilities. Paperless Bookkeeping, Cloud based Accounting and online services delivery started becoming the norm for Accounting and Advisory services.
Oyster Hub in this pandemic was becoming a beacon of hope for its clients.
At Oyster Hub it has always been a company goal, value and belief system that we are here to help small business owners & families find their purpose not by making them millions of dollars but given the something more important than money. “TIME”.
Our partnership with QuickBooks online gave us a superior advantage to tackle the economic pandemic hitting our clients. With our experience and Quickbooks online software we were able to help our clients reduce their manual tasks by more than 2 months in a year. This is turn gave our clients valuable down time or family time.
There is a saying that Time is money; Money is precious!
Covid-19 is slowly teaching us that Time is precious and Money is a commodity!
We call this “The world is an Oyster; Let’s find your pearl”
As an expert on Quickbooks online, more and more new clients reached out to us.
Since the announcement of the governments stimulus package we had a steep rise in the number of clients who have contacted us. Some using google as a search engine and landing on our webpages, others searching for online advisors and many just looking at breaking away from the traditional accountant philosophy of “she’ll be right mate!”
Businesses required to know their obligations, their eligibility criteria and their funding position straight away. As a heavy user of Quickbooks online we were able to demonstrate to our new clients:
How we use QuickBooks to meet these demands fast to update single touch payroll reporting
How we are able leverage QuickBooks online & digital receipt capturing application and help client meet their obligation while they are still sitting at home keeping social distancing.
The Future with Oyster Hub & Quickbooks Online
As we have implemented the above and many more strategies in helping Business right now, the clear and undeniable feedback from customers could not be more emphatic. Our existing clients applauded our ability to utilise Quickbooks online to seamlessly deliver their Stimulus Package requirements and lodgements.
Our new clients who were typically traditionalised to old Accounting methods and manual processing could not believe the power of QuickBooks online and how technology could so easily integrate into their Businesses.
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