Accounting talent is in high demand, but finding and attracting the right candidates takes time and effort. Often, the skills required are highly specialized and significant training and experiences are needed. In this article, we’ll explore why finding good accounting talent is so difficult and how remote outsourcing can help address this challenge.
Accounting professionals are in-demand across almost every industry, including finance, healthcare, and government. According to the Bureau of Labor Statistics, employment of accountants and auditors is projected to grow 6% from 2018 to 2028.
There is a need for more candidates with the right skills and experiences to fill accounting roles. According to a report by CPA Journal, Accounting graduates dropped by 4% since the onset of the pandemic.
Outsourcing allows companies to access a global talent pool, including talent from countries such as India, the Philippines, and China. This increases their chance to recruit professionals with specialized skills in tax compliance, financial reporting, and auditing.
Outsourcing can help companies save on labor costs, particularly in back-office functions such as bookkeeping and data entry. Generally, Outsourcing can save you 30-75% of current cost while improving quality and timeliness.This can free up resources to invest in other areas of the business.
Outsourcing can help reduce the burden of managing accounting staff, including payroll, benefits, and taxes.
Outsourcing can reduce the workload of in-house accounting staff, allowing them to achieve a better work-life balance. Lower absenteeism and a stronger motivation to work are just some of the benefits of a healthy working environment, based on this report.
Finding good accounting talent can be a challenge, particularly for SMBs. remote outsourcing can provide a cost-effective solution that offers access to a global talent pool, specialized expertise, and increased flexibility. While there are potential downsides to consider, outsourcing can help to improve efficiency, reduce administrative burdens, and improve compliance. By weighing the benefits and downsides, companies can decide whether remote outsourcing is right for their accounting needs.
To help ensure success, you can also look at a company such as Offsite Office that provides the recruiting expertise, infrastructure, training, and communication tools needed for success, while eliminating the risks and downsides.
Here at OffsiteOffice, we build remote, offshore accounting teams that work as an integral part of our clients’ operations. We offer the best global talent at cost-effective rates so you can enhance your financial operations and achieve your goals faster. We help you do everything needed to build a team, from helping you design a strategy to recruiting, setting up interviews, onboarding your team, providing infrastructure and ongoing administration.
OffsiteOffice will meet with you to understand your business goals and the requirements for each position and then find the perfect candidates to join your team. We build dedicated teams exclusive to your account that we provide with the infrastructure and tools to work effectively with you. Lastly, we handle the administrative aspects of your team – payroll, HR, etc., so you never have to. All for 1 simple monthly fee.
Contact OffsiteOffice today to learn more about building an effective Global Accounting Team.
In a recent digital CPA Conference webinar, Dave Schnitt, President and CEO of IQ BackOffice and Offsite Office, shared valuable insights, drawing from his company’s extensive experience in providing outsourced accounting services and offshore staffing solutions.
While AI won’t replace human accountants entirely, it has the potential to revolutionize the way accounting firms operate, particularly those that leverage offshoring.
A talent shortage is driving more companies to explore offshore accounting and staff augmentation solutions, particularly in their accounting operations.
This article is a quick digest of key takeaways from David Schnitt’s insightful podcast interview regarding Offsite Office.
With traditional talent pools drying up and domestic recruitment becoming increasingly challenging, organizations are thinking strategically about their accounting operations.
Businesses are increasingly recognizing the value of delegating accounting tasks to qualified service providers in other countries. This approach offers a multitude of benefits beyond just cost savings.
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Offsite Office will provide a Consultant to perform a detailed review and benchmarking of your current process. We will:
