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outlook & analysis

amid industry expansion, cpa firms remain cautious in hiring

the good news: 10,700 accountants hired. the bad: profit pressure.

the u.s. tax, accounting, and bookkeeping industry added a seasonally adjusted 10,700 jobs in march, the ninth straight month of year-over-year expansion, according to 卡塔尔世界杯常规比赛时间 sources. women and non-exempt employees are making up the bulk of the workers returning to the industry, but not, it seems, to cpa firms, where caution seems to be continuing. at the same time, 卡塔尔世界杯常规比赛时间 finds renewed pressure on fees and pricing while utilization rates and salaries continue to increase.

– rick telberg
卡塔尔世界杯常规比赛时间 research

in this report:

  • overall hiring trends
  • women employment
  • cpa firm hiring
  • overall trends in pricing and billing rates
  • cpa firm pricing trends
  • tax prep pricing
  • pricing for bookkeeping and compilation
  • number of hours worked per week
  • trends in wages and earnings

 

the 3% increase to 932,900 full-time equivalents from the year-ago month represents the biggest jump in a year. still, the rise left the industry’s head count 14,100 jobs shy of the month’s record high of 946,700 in 2008.

all employees, thousands

read more →

outlook & analysis

auditors beware: even hedge fund execs don’t trust hedge fund execs

in a new study that even the hedge fund trade association calls “troubling,” hedge fund executives say corruption, misconduct and pressure to break the rules are rampant and routine in their business.

the top ten findings include:

  1. 46% of respondents reported that their competitors likely have engaged in unethical or illegal activity in order to be successful.
  2. 35% of respondents reported feeling pressured by their compensation or bonus plan to violate the law or engage in unethical conduct, while 25% of respondents reported other pressures that might lead to unethical or illegal conduct.
  3. 30% of respondents reported that they had personally observed or had first-hand knowledge of wrongdoing in the workplace. read more →
busy season management

tax pro’s still running behind last year’s pace

at this rate, practitioners may be on track to make the april 15 deadline, but just barely. at the same time, the number and proportion of self-prepared returns continues to rise. it has been estimated that between 2010 and 2012 some 12 million taxpayers dropped out of the paid-preparer market to go to do-it-yourself software programs. and that trend is clearly continuing.

in this report: the box score so far this season, compared to year-ago periods. read more →

outlook & analysis

business clients tell accountants: evolve or die

is your accountant ahead of the curve on technology, or behind?

source: sleeter group
 clients find accountants’ tech skills lacking.

by rick telberg
卡塔尔世界杯常规比赛时间

as small and medium-sized businesses move increasingly online and adopt technologically integrated accounting systems, many tax and accounting firms will need to evolve or face extinction, according to a new survey obtained by 卡塔尔世界杯常规比赛时间. read more →

outlook & analysis

workflow solutions vendor xcm leverages research analysis from 卡塔尔世界杯常规比赛时间

workflow at tipping point; xcm solutions prepares to meet demand

mike sabbatis joins xcm solutions’ board to aid in execution of aggressive growth strategy

braintree, mass. – march 25, 2013 – xcm solutions, llc, the leading provider of cloud-based workflow management software for the accounting profession, today announced the appointment of mike sabbatis to the xcm solutions board of directors. recognized best for his leadership in delivering innovative solutions to the accounting industry, sabbatis will help the company in the execution of an aggressive growth strategy, as it prepares to meet the growing demand for workflow management software among accounting professionals.

the market for workflow management software is reaching critical mass as firms of all sizes look to technology to streamline and standardize more efficient digital processes. xcm solutions is planning to significantly expand its presence across all market segments, building on the success it has achieved in serving 30 percent of the top 200 firms in the nation, in addition to more than 400 small to mid-size firms that currently use xcm.

according to 卡塔尔世界杯常规比赛时间 research, a full two-thirds of tax and accounting firms report that workflow innovation is a high priority item for the coming year. “as a profession, we’ve gone past paperless – you’re either paperless or obsolete – and so the next move is streamlining your workflow. cpas are looking for vendors that can solve their workflow problems and give them a competitive advantage,” said rick telberg, ceo of 卡塔尔世界杯常规比赛时间 research and www.g005e.com.

sabbatis

“it’s an exciting time in the life cycle of a software company as we are seeing a broad market adoption of workflow software,” said sabbatis. “xcm solutions had the vision in this area and is at a level of maturity where their applications are proven to meet the needs of firms large and small. they have deep subject matter expertise and a passion that positions them well to capitalize on the market opportunity.”

former president & ceo, cch tax and accounting, north america at wolters kluwer, sabbatis is widely recognized in the accounting space as an innovator in delivering new solutions and business models for cloud computing and saas, mobile technology, and for pioneering the “paperless” revolution. his broad industry expertise reaches deep into accounting and finance workflows extending to solutions that support the end-to-end processes for professional firms.

sabbatis was responsible for leading a customer-centric set of business units in cch’s professional and corporate software, information and services markets. prior roles included executive vice president of global sales & marketing, and vice president of business development. he also served as cmo at advantage moti, a joint venture with datamatics, ltd focused on bpo, and vice president, business development and strategic accounts at thomson corporation.

“over the years, our experience in working with mike as a customer, business partner, and a competitor has been one of mutual respect and collaboration – through our common goal of providing the best solutions for practitioners,” said mark albrecht, founder and ceo, xcm solutions. “his leadership, deep industry knowledge, and broad expertise will no doubt serve as assets in guiding us through this exciting phase in the life of our company. however, to me, it’s really his vision and passion that make him such a good match for our culture.”

sabbatis’ appointment to xcm’s board is the latest in a series of recent high profile appointments the company has made in key areas to prepare for growth. late last year, xcm solutions announced kim hogan’s appointment as the director of west coast operations and, earlier this year, joe manzelli jr. joined the company as a leader in its outsourced workflow division. the company also announced record sales results for the 2012 fiscal year – reporting significant growth across all product categories, including growth in net new business by 89 percent over the previous fiscal year and overall growth of 39 percent over the same period.

about xcm solutions, llc
founded by cpas, xcm solutions, llc provides accounting firms with web-based workflow management solutions that increase efficiency, productivity and profitability. the company’s management team has drawn on its extensive experience in public accounting and clear understanding of the paper-driven workflow issues facing the profession to develop technology that addresses those challenges.

xcm’s customer-guided development process has helped the company continuously raise the bar for business process automation solutions for the accounting profession. the award-winning xcm™ workflow management software has become a key piece of the technology equation for firms re-engineering paper-based processes as they move toward a paperless environment.

in 2010, cpa2biz, a subsidiary of the american institute of certified public accountants (aicpa), and xcm solutions formed a strategic alliance to bring the xcm workflow management software into cpa2biz’s trusted business advisor(sm) solutions cloud computing platform. for more information, visit www.xcmsolutions.com.