No accountants? Offshore

Over the last week, I've seen numerous posts about the shortage of CPA's in the United States. For sure it's a problem. The better questions is, what can you do about it?

Here are three reasons why you should consider outsourcing and offshoring your CPA talent.

Remote working has taken over

Post-COVID, workers are demanding more remote and hybrid roles. Employees' lives have changed. What was once a culture of "I NEED TO LEAVE FOR WORK"! has be come a culture of family first, healthier lunches at home, and less stress due to the lack of commute.

As we've seen in the news, employees are resistant to going back to the office. If you're already forced to hire for remote work, what's the difference if your employees are in New York, Arkansas, Alaska or New Delhi? From your perspective? Nothing.

Offshored staff also do not have the same type of culture as US based employees do. At Agile Accounting Services LLC, our staff come into the office each day.

So if you're insistent on an office environment and your staff aren't interested in coming in, then offshoring is probably right for you.

Your talent pool is much larger

The accountant shortage in the United States is going to cause massive disruptions to firm operations in the immediate term. In many offshore locations, such as India, there are millions of new talent (freshers) and experienced hires with Chartered Accountant and Certified Public Accountant certifications.

With the sheer number of talented CAs and CPAs in the market, why wouldn't you want to source them? By considering offshoring, you open up your access to a larger talent pool.

Another benefit is choosing which hours these staff work. If your company wants to have 24 hour coverage, hiring overseas can allow your firm to extend its hours. Offshore countries, such as India and the Philippines, have talent pools who are willing to work US hours and often not at additional cost over the normal salary averages.

It costs less to offshore

Of course, it wouldn't make sense to offshore if it wasn't cost effective. For the price of a single CPA in the United States it's often possible to hire two or three CPAs overseas! But more interestingly there are methods to split roles and hire for what you need.

Imagine a situation where you hire one CPA to review and complete tax returns, but for the large volume you hire data entry staff? Not only can you reduce your monthly cost of a CPA, you can reduce the staffing costs overall with what you need.

So, if you're seeing difficulty in hiring you should consider offshoring. Offshoring isn't only for large firms, but for small firms to.

Contact Agile Accounting Services LLC today at chayim@agileaccountingservices.biz or 646-760-2123.