Overcoming Burnout to Create a Sustainable Accounting Practice
Download MP3Hitendra 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.
Chapters
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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
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/
Creators and Guests
Guest
Hitendra R. Patil
Hitendra R. Patil is the President of the Global Finance and Accounting Outsourcing Services of Datamatics Business Solutions, Inc. (DBSI), providing services exclusively to CPA and Accounting firms. He is one of the Top 100 Most Influential People in Accounting, one of the profession's leading authorities on client accounting and advisory services (CAS / CAAS), accounting technology – including artificial intelligence, emerging technologies, and accounting practice/firm success. He is also the author of “Rise of The AiCCOUNTANTS™: The What, Why, and How of Artificial Intelligence (AI) for Accountants,” and “The Definitive Success Guide to Client Accounting Services (CAS), books he has written exclusively for accountants.
