![]() Despite the shortage, outsourced assistance is in high demand, and companies are weighing their options with software investments and overseas work. "As talent retires and the pipeline of fresh accountants dwindles, firms have struggled to provide the services businesses need to meet their financial needs. "America's accounting shortage has been plaguing accounting firms in the last few years," says Max Lillard, senior finance analyst at Capterra. With 93% of businesses experiencing accounting delays, over half (52%) of them are turning to software as a potential solution to help automate functions. According to media, Bangladesh, Pakistan, Syria and Egypt are the third countries to which Greece’s tourism can turn now to cover the huge gaps in personnel with vacant jobs exceeding 80,000 this year. Rising costs (50%) and an inability to support requests (31%) are among the top challenges for organizations using outside firms. ![]() Relations between firms and businesses have become difficult due to the mass shortages of accountants, inflation, and economic downturn. The top outsourced tasks include financial advisory services (54%), processing and auditing (50%), and complicated tax compliance (48%).īusinesses are so reliant on outside firms that 65% of them require full-time support to handle their taxes however, firms aren’t delivering like they used to. Here’s insight on how businesses are currently approaching their accounting needs during tax season:Ī majority (71%) of businesses outsource accounting work for the convenience, expertise, and legal compliance guarantees firms provide. The most commonly delayed tasks due to outsourced accounting issues, according to Capterra’s new research.
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