#03 - Overwhelmed? New Tools & Technology Are Here to Save the Day

And a free job description template for your firm

🌍 The Global Edge

Overwhelmed Accountants and the Blessing of New-Age Tools & Technology

“One of the biggest challenges across the board was visibility. They didn’t know who was working on what, what the status of the work was, or whether they were meeting the deadlines. They wouldn’t figure out until the client called them and was like, ‘Hey, you didn’t get my work done.’ That was a challenge so painful for them because they would probably lose the client, they were embarrassed, and they were stretching out at night. We saw what a big problem that was and that gravitated us towards practice management,” says Shahram Zarshehnas, CEO of Financial Cents, in a recent podcast with Finsmart Accounting.

The best thing about tech is that accounting firm owners can use it for their specific use case - automating processes, resource scarcity, keeping up with the evolving needs of customers, and much more.

While technology and Artificial Intelligence continue to gain a massive power over the accounting industry, it is interesting that 60% of respondents in an online survey said that they have somewhat disconnected software systems, inconsistent processes, and an absence of standardized workflows.

Tech and tools have become the need of the hour if you want to stay ahead in this extremely competitive industry. However, in case you are struggling with the adoption of the tools or lack the means to include them in your systems, the right offshoring partner can help.

Watch the full podcast here.

📚 What We’re Reading

How AI Can Help Solve Talent Shortage?

AI is no longer the “new” thing. It has become a household name, and the accounting industry is no exception.

This article reveals that automating tasks like bookkeeping and data entry, review and audits, tax preparation and research, analytics and forecasting, accounting professionals, and leaders can not only save time, focus more time and energy on revenue-generating activities, but also address the pressure on talent, which is one of the key reasons of professionals quitting the industry altogether.

To know in detail, the correlation between AI and talent shortage, keep reading.

Read the full article here.

🔦 Finsmart Spotlight

The talent shortage in the accounting industry is real. Yet, leaders and hiring managers tend to keep undermining the importance of an appealing job description, the ones that stand out.

Why do you need a great job description?

1. To find not just technically fit team mates but culturally fit as well

2. To streamline hiring and onboarding

3. Reduce burnout through defined roles and responsibilities

Our latest piece explores how the right Job Description template can help address it all.

💰 Free Growth Resource

We complain about an overwhelming tax season, but one of the key reasons continues to be the lack of preparation. From missing documents to severe discrepancies, followed by clients chasing down late at night - this is the truth of tax professionals.

Even when we know we will need an additional pair of hands, especially during the busy season, we don’t look for the right professionals unless we are drowning.

It is better to build a talent pool well in advance, rather than not being able to find the right candidate during the tax season. Start looking for the right fit today!

DOWNLOAD OUR CUSTOMIZABLE TAX ACCOUNTANT JOB DESCRIPTION HERE.

🧑‍💼 Meet Your Future Team

At Finsmart Accounting, our teams work directly with the accounting firms (clients) from Day 1. We hire experienced professionals who are fully capable of tackling crises and are always prepared to put their best foot forward to solve their clients’ problems.

In this third issue of The Outsource Insider, we present to you one of our Team Leaders, Abhijeet Tyagi.

• A results-driven professional with an ACCA qualification

• 4 years of experience in US Accounting

• His expertise lies in financial reporting, reconciliations, transaction categorization, month-end and year-end closings, and process optimization, with a focus on accuracy and efficiency in every client management

• He is proficient in QuickBooks Online (QBO), NetSuite, Xero, Sage, Bill.com, Financial Cents, Canopy, and Microsoft Excel

• As a Deputy Team Leader, he focuses on precision and compliance

“Alone we can do so little, together we can do so much,” - Hellen Keller.

😄 Funsmart Corner

Now this issue cannot truly come to an end unless we pour just a little dose of fun in your inbox.

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📅 What’s Coming Up

Finsmart Accounting will be attending upcoming accounting conferences to discuss accounting, offshoring, and more. We hope to see you there!

1. Scaling New Heights
   Date: 22-25 June
   Location: Orlando
   Event Highlights:
   
   - Meet our team at Booth 75
   - Join Maanoj Shah and Veronica Wasek at the main stage session on 24th June June 24, 2025, from 9-10:40 am ET on “From ‘Did We’ to ‘We Did It’, Making Offshoring a Scalable Reality”
   - Check your offshore readiness in a workshop with Maanoj Shah, Rebecca Brocard Santiago, and Jane Watkins on June 25, 2025, at 8 am ET
   

See you next time!