Tax talent shortage leads CFOs to rethink ROI
Parents spend time and money shopping for gifts for their children. They get excited imagining how much their kids will love it…and then the kids just end up playing with the box it came in.
The same goes for AI in tax and accounting firms.
Firms invest time and money upgrading their tech stack but fail to implement it in their day-to-day processes, leaving many accountants using “the box” of outdated manual workflows, when they should be playing with their shiny new AI toy.
The Real Problem: How Firms Measure ROI
Mahati Mukkamala, SVP of Finance and Operations here at HubSync, attributes technology investment failings to how firms typically frame ROI. “Sometimes we only look at ROI as, you know, are you making money back on the software based on hard costs?” Mukkamala told CFO Dive. “I think ROI should be measured based on, is it making my employees better? Are they doing more with less?”
Reframing ROI mindsets is important given the current labor shortage in the accounting field. The number of CPA exam candidates has fallen by 27% over the last decade, and this trend will likely continue if firms don’t adjust to make ROI about:
- Improving employee experience
- Retaining current employees
Luckily, HubSync can help. We toss away “the box” of manual processes and implement AI where it matters: in employee workflows.
Putting AI Where Work Happens
Our HubSync Gateway platform uses AI to:
- Eliminate administrative bottlenecks
- Reduce time wasted
- Provide an intuitive, interactive interface
- Eliminate outdated and fragmented systems
We don’t just add AI for AI’s sake; we integrate our tech stack into actual workflows, automating well-defined steps and producing structured data that yields reliable results.
Implementing HubSync’s AI solutions helps staff reduce night-and-weekend crunches around deadlines by providing sustainable workloads. This eventually shows up in retention numbers and increased firm interest from new graduates and experienced hires.
“In a world where you’re seeing a shrinking workforce, what you want to do is empower people that are in your workforce to enjoy doing the work and become more analytical,” Mukkamala added.
HubSync makes this possible.
It’s time to rethink ROI and invest in staff experience. It’s time to switch to HubSync.
Ready to throw out “the box” and utilize your tech stack? Learn more by reading CFO Dive’s article featuring Mukkamala: https://www.cfodive.com/news/cfos-must-rethink-roi-amid-talent-shortage-hubsync/813135/.