The Manpower Challenge for Accountancy Firms in 2023

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Global accountancy firms are facing a significant challenge as they encounter an increase in accountancy and tax compliance work in first-world economies, while simultaneously experiencing a shortage of capable and driven accountancy and tax professionals to support firms in their endeavours. This challenge is compounding with each passing day, as the western economy workforces leave the industry or retire, resulting in a significant workforce issue for the accounting profession. 

Samera Global Can Help

To solve this issue, firms can engage with Samera Global to acquire suitable, smart, and capable accountants who are fully vetted and trained in all the accountancy and tax services required by the firm. Samera Global’s accountants can provide a long-term solution to firms’ resourcing problems. 

Resourcing for your accountancy firm is an issue that is not going away soon

It is important to note that this challenge is not getting any smaller. As the western economy workforces retire, there are insufficient accountants in the west to support all the compliance work that needs to be done. If firms do not act early to build their global team, it will become increasingly challenging to build the right team. 

The solution is two-fold: Technology and People

Solving the largest headache for firms requires two things. Firstly, firms must become technology-driven accountancy firms that leverage the fast-paced changes in Artificial Intelligence to improve their operations. Secondly, firms must build a global accountancy workforce that understands their needs and can provide long-term support. 

Did You Know?

  • The global accounting and tax workforce is expected to grow by 20% in the next 5 years, but the supply of qualified accountants and tax professionals is not keeping up with demand. (Source: Association of International Certified Professional Accountants, 2023 Global Accounting and Tax Workforce Study) 
  • Over 50% of accounting and tax firms in the US are reporting a shortage of qualified staff. (Source: American Institute of Certified Public Accountants, 2023 Accounting and Tax Firm Benchmarking Report) 
  • The average time to hire an accountant or tax professional has increased by 25% in the last 3 years. (Source: Robert Half International, 2023 Accounting and Tax Hiring Trends Report) 
  • The cost of hiring an accountant or tax professional has increased by 10% in the last year. (Source: Indeed, 2023 Accounting and Tax Salary Report) 
  • Over 60% of accounting and tax firms are now considering offshoring or outsourcing some of their work to meet their staffing needs. (Source: KPMG, 2023 Global Accounting and Tax Technology Trends Survey) 
  • Over 70% of accounting and tax firms believe that the shortage of qualified staff is a threat to their business growth. (Source: Deloitte, 2023 Accounting and Tax Firm Outlook Survey) 

Samera Global can deliver on point, on time and on budget

Working with Samera Global, we can provide firms with the opportunity to build a long-term team. Samera Global’s friendly team can assist in delivering high-quality work to ensure all required deadlines are met, take away the headache of finding suitable team members, save over 50% of costs, and provide the legal and payroll infrastructure required for remote workforce management. 

Been there done that, got the T-shirt

Samera Global evolved as a result of using offshoring firms myself. 

Some of which were good, and others that were terrible. 

The common issue across all the firms used was a lack of understanding of the culture of the firm, the way it worked, and its approach in the UK (United Kingdom). As a result, Samera Global was established to provide support for UK and global accountancy firms in their resourcing problems.  

A Global Team in the UK and India 

Samera Global’s processing and accountancy work for UK clients is carried out by the Samera Global team based in India, with the remote team working UK hours and supporting the UK team throughout the day. This provides a scalable business model that can support firms of all sizes and help them grow in a manpower-restricted industry. 

The accountancy firm of the future will be one that embraces AI (Artificial Intelligence) and technology while working with the best available talent globally.  

If you are seeking the right team to support your accountancy firm, get in touch with Samera Global. 

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Arun Mehra

With over twenty years of commercial experience and knowledge Arun’s expertise is valued by hundreds of businesses across the UK. His financial acumen and know-how, along with his hands-on commercial expertise have helped clients, large and small, new and established to achieve great things.

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