 |
Articles In This Newsletter:
Increase Productivity By Automating Workflow
How to Combat Staffing Shortages and
Curb Underutilitization
Increase Productivity
By Automating Workflow
With the recent introduction of XCM software, tax accountants
will once again be able to see their families during tax season!
|
|
|
XCM is a first–to-market, patent pending workflow application that increases efficiency, productivity and profitability
within accounting firms. It is a Web-based application that CPA firms can easily implement regardless of the core
software they use. XCM reduces the time it takes to process tax returns, tax notices, financial statements and bookkeeping
projects by automating workflow. By increasing productivity, it enables firms to assume a greater workload with existing
staff, increasing profitability.
XCM Solutions CEO Mark Albrecht, a CPA for almost 30 years, developed XCM based on a very real need he identified in his own accounting firm, Kirkland , Albrecht & Fredrickson, LLP (KAF). Every year, his firm and countless other accounting firms process hundreds to thousands of tax returns and financial statements in a condensed timeframe using the same inefficient paper/file-based workflow process they have been using since the inception of the industry. Tax departments are challenged to produce more work using an inefficient process with limited controls. Every year, they struggle with the same process, which hinders productivity, and creates unnecessary anxiety and stress.
Albrecht and his partners brainstormed ways to facilitate the tax-return preparation process and conceived a new method of electronically controlling workflow throughout the office, creating XCM.
More than an automated tracking and monitoring system for your administrative staff, XCM is an intuitive Web application providing task-oriented solutions to expedite the workflow management process within a CPA firm, all in real time. Professional and administrative staffs have instant access to the location and status of every project, task or return, and are able to access the files both in the office and remotely.
Read More at Xpitax.com >>
|
|
How to Combat Staffing Shortages and
Curb Underutilitization |
|
|
With busy season right around the corner, firms are finding creative
ways to address their staffing needs. Unfortunately, recruiting
talent has become increasingly competitive, due largely in part
to a significant decline in the number of CPA designations awarded
to accountants. Since 1994, there has been a 24% decrease in
bachelors degrees in accounting. The last decade has created
a severe shortage of the most needed staff, those with 3-5 years
of experience. The number one issue facing the industry is the
ability to hire and retain talent. The lucky firms that manage
to recruit talent to address their needs during busy season are
dismayed to see their staff underutilized during the slower summer
months. Underutilization results in diminished profitability.
Outsourcing as an Alternative
Outsourcing tax preparation to third party preparers can help alleviate
these challenges. By partnering with a reputable outsourcing provider,
firms can meet the workload demands of busy season without adding
staff that will sit idle during the slower months. The following
chart illustrates the demand curve for staffing:
As you can see, the majority of corporate and individual tax returns
are processed between January and April. The enormous volume of
work during this crunch time requires employees to work very long
hours to meet their deadlines. Firms are seldom staffed appropriately
to meet the workload demands, and because of the labor shortage
in the profession, they can rarely find qualified employees even
when they plan ahead.
Read More at Xpitax.com >>
|
|
|
|
|
|
|
To learn more about outsourcing or sign up for a live demo or webinar,
please call 781-303-0136 or send an e-mail to info@xpitax.com.
Webinar Schedule: Wednesday's at 1pm EST
Click here to register |
|
|
|
Quick Links
|
|
|
|
