The gross shortage of public accountants in the U.S. has challenged public accounting firms’ ability to deliver the services their clients need. With overworked auditors and accounting team members, and no available bench, firms have turned work away. Given the bleak labor outlook for this type of talent and no sign of relief in the coming years, public accounting firm clients have turned to Vaco to provide outsourced accounting and auditing professionals and alternative solutions that result in:
In the past, firms often defaulted to offshore locations such as India or South Africa for outsourcing; however, time-zone differences, the inability to easily travel to onsite locations, high turnover and communication often become challenges to work quality and delivery. Although offshoring can be effective for transactional work, public accounting firms delivering professional services to clients benefit from the synergies and strong relationships achieved with teams comprised of onshore and nearshore resources. For our public accounting firm clients, Vaco delivered an optimal nearshore solution.
Vaco, in partnership with local providers in Trinidad, provided senior staff and senior auditor talent who we managed. Trinidad has a thriving economy and strong infrastructure. The island is not in the hurricane belt, and it boasts a stable power grid and subsea fiber-optic cables that support 4G networks.
In less than two weeks, our nearshore team based in Trinidad was operating effectively and was well-integrated with our clients’ teams. Vaco-managed consultants traveled from Trinidad to the U.S. for training, which contributed to the pace and efficiency of getting a successful solution in place. Once onboard, our nearshore talent acclimated with impressive speed and were able to fully execute a variety of functions, including leading audit engagements in a senior capacity. Our nearshore team members became integral to our clients’ organizations and accounting and auditing services. Clients gained a sustainable, long-term solution to their talent gaps.
Our clients continue to report that Vaco’s nearshore solution feels quite different from offshoring. The nearshore teams seamlessly integrate with employees who are working in North America. Benefits experienced by our clients include:
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