AI-powered growth platform offers insights to surviving busy season amid accounting talent shortage
CHICAGO, Jan. 23, 2024 /PRNewswire-PRWeb/ -- Paro, a leading finance and accounting AI-powered growth platform helping companies embrace digital transformation, today shared its tax season efficiency checklist to help CPA firms proactively prepare for an incredibly busy season. The checklist provides 10 ways to improve productivity, despite industry-wide capacity challenges, and become more efficient to take on growth.
"The start of the year brings new beginnings to many, but for CPA firms and accountants, it can be a stressful time. There are strategies to help alleviate that tension, particularly by building capacity," said Alex Loewenstein, Advisor, Paro for CPA Firms. "By scaling up on talent during the tax busy season, firms can start saying yes to work they've previously had to turn down while also supporting full-time employees who are in the thick of it."
- Refresh before tax season: Train staff on the latest software and tax law updates and set role expectations to avoid redundancy or confusion.
- Educate new clients: Create a guide to take clients through processes, timelines, and document submission guidelines and deadlines.
- Automate with generative AI: Streamline with AI client expense categorization, templates for common documents, and FAQs. Leverage AI to transform finance teams and build for the future.
- Outsource general or niche expertise: Lighten staff workload with scalable, fractional tax expertise or fill niche gaps, like international tax experience.
- Manage overseas teams: Hire a U.S.-based, fractional accounting manager to assist in quality control and coordination, if outsourcing overseas.
- Prioritize data security: Invest in a secure portal and file-sharing platform. Use end-to-end encryption for data and train staff in security best practices.
- Build shared resource libraries: Give all staff access to the same updated assets across the firm.
- Minimize touchpoints: Set up automated status notifications to clients. Gather all documents before starting. Set up automatic billing.
- Encourage breaks: Promote regular breaks, check-ins, and motivational incentives. Offer remote days to reduce burnout and improve engagement.
- Review tax season wins and losses: Conduct a post-season review to gather feedback. Follow up with clients on additional potential advisory services.
Paro's flexible, fractional U.S.-based talent model allows CPA firms to add high-skill accounting professionals within hours without going down the rabbit hole of recruiting. Learn more about overcoming capacity challenges with Paro.
About Paro
Paro is an AI-powered marketplace that delivers finance and accounting solutions to businesses through a combination of expert fractional talent, data-driven tools and guiding insights. By harnessing the power of people and technology, our growth platform provides flexible options, ranging from transaction processing support to corporate development and financing strategy, to solve core business challenges and drive growth. The result enables businesses and experts to go beyond even their loftiest goals.
Media Contact
Amanda Guse, FINN Partners, 1 312-766-5508, [email protected]
SOURCE Paro
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