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Client Accounting Services continues to be the hottest new trend in the accounting profession and is only expanding. Not only are businesses seeking back office solutions and back office transformations, they are now looking for human capital management solutions such as: benefits administration, human resources consulting and more.
Accounting Today published a special report highlighting the Great Resignation and how it has opened the door for accounting professionals and technology solutions specialists to provide more services beyond payroll.
UHY’s CAAS National Practice Leader Kane Polakoff was one of the featured professionals and explained the new requests that he is seeing from clients due to staffing challenges and other complications across various markets.
"Our firm is seeing a rise in client requests for human capital management solutions, such as benefits administration, HR consulting, etc."
“There’s been a huge demand for organizations needing to leverage accounting firms or third-party payroll and HR providers to support them, especially in the small to midsized marketplace because of challenges with losing payroll clerks, or their payroll managers, or even their HR staff. Companies are really looking to leverage an outsourced model in order to do that, so that is what I’m kind of seeing in general and it continues to be the trend already starting in 2022.”
“I think clients are looking for more higher-end consulting from HR because of some of the changes in labor laws and the impacts of what is happening out there. There’s a need to be able to reach out to somebody
and have a conversation and try to get the right legal advice or information to make the right decisions.”
“I see that as a big need that has been happening recently.” He added, “We want to try to solve a problem.
Whether it is a problem that we can solve or not, we want to be able to find the right experts in the industry that can provide and fulfill a need that our clients have. I think payroll and HR are a key factor for an organization part is in terms of pricing. What we see as a trend is not to charge for the separate service segments but try and include them in different [tiered] packages.”
Our client accounting advisory services practice specializes in back office solutions and back office transformation to create efficient processes and provide timely financial statements.
Read the full report published by Accounting Today.