Personiv, a leading provider of finance and accounting outsourcing solutions, today released a new CFO Pulse report that highlights a worsening accounting talent shortage, with 83% of senior leaders acknowledging the scarcity, up from 70% in 2022. The 2024 survey offers insights and explores strategies to mitigate the lack of talent and achieve efficiency, cost savings, and business focus.
CFOs are facing more challenges than ever before--from increased cybersecurity risks to global supply chain management. Contending with unfilled roles and a lack of skilled accounting professionals can disrupt businesses’ processes, leading to increased workloads for existing staff, delayed financial reporting, heightened risks of errors, and employee burnout.
Key findings from the report include:
- Talent Shortage Intensifies: 83% of senior leaders report a talent shortage, with 10% stating it's worsening.
- Outsourcing on the Rise: 90% of surveyed CFOs outsource some accounting functions, leveraging specialized talent to maintain efficiency and focus on strategic goals.
- Cautious AI Adoption: While AI offers potential, finance and accounting leaders are careful with its implementation, highlighting a blend of human expertise and technology as the optimal solution.
“The accounting talent shortage is real, and companies are unquestionably looking for new ways to support and scale their teams. Understanding and exploring all options for filling roles without diverting focus from larger goals is crucial,” said Matt Wood, Global Head of Finance and Accounting Outsourcing at Personiv.
Click here to download the full report. Deeper analysis of the report and actionable insights for practical automation and outsourcing solutions will be shared in a webinar hosted by CFO Leadership Council and sponsored by Personiv on September 18, 2024.
CFO Pulse Survey Participants: 278 U.S. finance and accounting leaders from over 20 industries, including advertising, agriculture, finance, and technology, participated in the survey. Respondents represented diverse company sizes, with significant input from decision-makers directly involved in hiring.
With more than 35 years of experience, Personiv builds customized, virtual accounting solutions that deliver up to 50% cost savings. Our GAAP-compliant talent, and stateside client relations ensure quality, cohesion, and results. Contact us today to learn how Personiv helps finance leaders solve their talent challenges without compromising on quality. Personiv is a division of eClerx (ECLERX:IN).