Personiv, a prominent provider of finance and accounting outsourcing solutions, has published its 2024 CFO Pulse report, which indicates that the shortage of accounting talent is continuing to deteriorate. According to the report, the scarcity of qualified professionals has been acknowledged by 83% of senior executives, a substantial increase from 70% in 2022.
A total of 278 finance and accounting executives from more than 20 industries participated in the survey, highlighting the challenges CFOs face, such as increased cybersecurity risks and global supply chain management. The shortage of talent is causing disruptions in business processes, leading to increased workloads for existing staff, delayed financial reporting, heightened risks of errors, and employee burnout.
Key findings from the report indicate that 90% of surveyed CFOs are outsourcing some accounting functions to maintain efficiency and focus on strategic goals. While there is cautious adoption of AI, finance and accounting leaders emphasize the importance of blending human expertise with technology. Matt Wood, Global Head of Finance and Accounting Outsourcing at Personiv, stressed the need for companies to explore all options for filling roles without diverting focus from larger goals.
