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Guest Interview Highlights- Vipul Sheth (Founder of AdvanceTrack Outsourcing)

Episode 23. On today’s episode, Rob Brown of the Accountants Influencers Podcast interviews Vipul Sheth of Advance Track Outsourcing on how firms increase capacity to generate more revenues.

Vipul is a UK based ICAEW Chartered Accountant and Chartered Tax Advisor. He trained with a regional UK firm before moving to Ernst & Young and KPMG. He founded AdvanceTrack in 2003 to serve accounting professionals with outsourced services across the globe. When not Vipul is a keen football fan, and loves running and travel.

Key shownotes from the whole interview include:

➜ Why accounting firms need to explore outsourcing to gain competitive advantage

➜ The challenges of bringing in good talent to an accounting firm to keep compliance work going

➜ Why accountancy practices have never been more valued than they are now

➜ How the ageing population in accounting firms is creating a problem for succession

➜ The biggest thing that separates the good accountants from the great ones

➜ How the goodwill accountants have generated during Covid can be capitalised upon

➜ What accountants must do to show they truly care about their clients

➜ The key challenges for accounting firms who want to grow in competitive times

➜ The impact of big accounting firms driving up salaries has on recruitment for smaller firms

➜ The average percentage of spend accounting practices spend on talent, labour and staff

➜ Where some accounting practices have fallen short throughout the pandemic

➜ The pain points an accountancy firm may be manifesting to warrant an outsourcing conversation

➜ The common pushbacks from accounting leaders who are reluctant to outsource client work

➜ How the labour market in the accountancy profession has shifted over the years

➜ What causes fewer accounting firms to train their staff, especially in the larger firms

➜ How the market for talent has become global as barriers and working practices become remote

➜ What kind of people make the best recruitment targets for accounting firms

➜ How outsourcing provides the compliance ‘engine room’ in accounting firms so their ‘in place’ staff can grow the firm

➜ What’s coming up for the accounting profession in the areas of advisory. digital tax collection and cloud accounting

➜ The fate that awaits accounting firms who have not or will not invest in extra capacity and good talent

➜ How the growth trajectory of firms differs depending on their attitude to succession and talent development

➜ What should really drive accountants and the vendors, suppliers and advisors who serve them

➜ A personal philosophy for success that rewards integrity with results

➜ Advice for accountants who want more of a voice, more influence and more success in their accounting career

➜ Advice for accounting leaders and partners who want to really make a difference to their firm and their people

Vipul on LinkedIn: https://www.linkedin.com/in/vipulsheth

Advance Track website: https://www.advancetrack.com

NOTE TO LISTENERS:

This is a condensed highlights version of the full interview (usually 20-30 mins long), which you can catch as a bonus episode at the weekend.

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