Hitendra R. Patil joins Blake for an insightful conversation about the staffing shortage in the accounting profession, identifying overwork and lack of work-life balance as key issues causing high burnout rates. They explore potential solutions like dropping the billable hour model, measuring impact rather than hours worked, outsourcing certain tasks, and focusing on specific value-added services. Patil also describes how his company helps accounting firms efficiently leverage offshore talent.
Sponsor
ShareFile - https://earmarkcpe.promo/sharefile
Chapters
- (00:47) - Hitendra Patil joins the show
- (03:24) - Let's talk about CAS
- (04:43) - What do you see firms call their communication with clients?
- (12:19) - National Association of Tax Professionals 2023 study
- (13:27) - CAS is vague and firms need to figure out what they want to offer from it
- (14:17) - What is causing the accounting shortage?
- (20:35) - How big of problems are the overwork and pay?
- (25:01) - More and more firms are offshoring work
- (29:34) - How long is offshoring a viable option?
- (32:52) - What are the accounting student numbers in India?
- (35:03) - Korn Ferry study on future shortages of working professionals
- (40:13) - What is the real underlying cause of the talent shortage
- (41:52) - Hourly timesheets and billing
- (44:01) - How can accountants measure impact on clients?
- (51:13) - Datamatics Business Solutions Inc.
- (58:07) - Thanks for listening and remember to earn your free CPE on Earmark
https://earmarkcpe.com
Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app
Connect with Our Guest, Hitendra R. Patil
LinkedIn: https://www.linkedin.com/in/hitendrapatil/
Twitter: https://twitter.com/HitendraRPatil
Facebook: https://www.facebook.com/HitendraRPatil/
Instagram: https://www.instagram.com/accountaneur/
Learn more about Datamatics Business Solutions, Inc. (DBSI)
Website: https://datamaticscpa.com/accounting-bookkeeping-outsourcing-for-usa-cpas/
Connect with Blake Oliver, CPA
LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
The Nikki Glaser Podcast
Every week comedian and infamous roaster Nikki Glaser provides a fun, fast-paced, and brutally honest look into current pop-culture and her own personal life.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.