Qualified accountants are one of the most valuable resources in a business, making your team the natural first line of defense against staffing shortages. With smart, dynamic problem-solvers already in place, the challenge becomes finding ways to leverage them more strategically to bridge the gap.

Here are three people-focused strategies to address the accountant shortage, along with the pros and cons of each:

1. Tapping your current team. Tapping your current team. The people you have are a powerful resource. Talented finance employees can discover cost savings, find creative solutions, and collaborate to build effective solutions. However, over-relying on your team has limits.
   
   When less experienced staff are assigned to critical tasks, it increases risks like accounting errors, late filings, and even potential SEC fines. Additionally, decentralizing financial functions — such as relying on all employees to correctly code expenses — shifts responsibility to non-finance staff who may not be trained in compliance risks. For example, if someone takes a client to lunch, they’re now responsible for correctly categorizing the expense, which can lead to errors.
   
   While accountants and auditors don’t always have to be the first line of defense, shifting their work to other employees introduces significant risks and inefficiencies.
2. Outsourcing. Outsourcing can be a helpful solution for a situation like an accountant shortage. In some instances, it can be less expensive than hiring new workers. It’s also a quick fix that brings in new capacity right away without the ramp-up needed for training new hires. However, outsourcing comes with trade-offs. First and foremost, you have less control over an outsourced team, and they may be less responsive to your needs if they have multiple clients. Also, sharing financial data with third parties can create security and compliance challenges, increasing the complexity of managing your books.
3. Hiring new employees. If you have a new product, company initiative, or greater volume, the instinctive solution is to bring on more headcount. But in today’s constrained labor market, that’s easier said than done.
   
   Labor costs — including wages, benefits, and payroll taxes — account for up to 70% of total business expenses and are only rising as accountants demand higher salaries. Even if you can secure headcount approval, hiring comes with significant costs and delays. Onboarding and ramping up new employees takes time, delaying the impact of their contributions.
   
   The real question is: when you’re told “no” to additional headcount, how do you handle it? Another important consideration is, “Are my processes and systems optimized, and I just need someone to execute? Or is this entirely new work that can’t be absorbed by my current team?” While hiring can alleviate pressure, it’s not always the best solution, especially when the underlying issues stem from inefficiencies in processes or systems.
   
   The bottom line — people are an invaluable pillar of any successful organization and a powerful resource for addressing challenges. But when the core issue is a shortage of skilled professionals, people alone can’t bridge the gap. To truly overcome the accountant shortage, organizations must complement their teams with streamlined processes and advanced systems — creating a foundation for long-term success.

The next lever for doing more with less is process — how people get work done. Optimizing processes can make employees more efficient and reduce redundancy, especially as automation and AI-powered workflows become increasingly common.

At Brex, our accounting leaders focus on the following principles for process improvement:

1. Focus on processes that matter. Don't waste time on process for process's sake. In our own accounting function, we perform risk and materiality assessments so we know exactly what to focus on. “We have to battle our natures as accountants or auditors to reconcile to the penny,” Brex controller Kevin Moore says. “Otherwise, you’re working at 150% capacity and burning yourself out.” Focus on delivering the right level of granularity to help the business make informed decisions without overloading your team.
2. Keep stakeholders front and center. It’s important to design processes that empower decision-makers. “Understanding who the stakeholders of financial information are — primarily management — is key,” says Erik Zhou, Chief Accounting Officer at Brex. “Processes should deliver insights about what’s working, where we’re failing, and where to invest, providing the data leaders need to make the right decisions for the company.”
3. Flatten the spike. Too much work in too short a time is a recipe for burnout. Spread tasks throughout the month to avoid end-of-month crunches. Brex, for example, holds interim audits or pulls forward tasks that don’t need to reduce peak workload times. During the first two weeks after month-end, finance teams make sure the record is correct. As Kevin explains, “We constantly evaluate whether tasks truly need to be done at month-end or if they can be completed earlier to reduce the mad scramble.”
4. Automate where possible. Forward-thinking leaders are embracing AI and automation. According to the 2024 Intuit QuickBooks Accountant Technology Survey, 98% of respondents used AI to help clients in the past year, and over half plan to invest in AI (57%) and automation tools (54%) in the next 12 months — a notable increase from the previous year. These investments deliver results: the 2024 State of AI Report by ICONIQ Growth found that 86% of leaders report significant ROI from AI and automation. Start by leveraging tools that handle tedious tasks. At Brex, for instance, we apply continuous close principles, using our platform to streamline daily operations and ensure accurate, up-to-date books.
   

Well-designed and automated processes not only help employees work better but also make your company more attractive to veteran talent or even new college grads by minimizing repetitive tasks like manual data entry or reconciliations.

However, even the best processes can only go so far. Without the right people or technology, processes alone won’t solve every challenge. That’s where robust systems come in.

Technology acts as the ultimate accelerator. It allows people to implement processes and, in many cases, can completely replace human involvement through automation. When the right systems are in place, everything works in unison, enabling businesses to grow and scale effectively.

As a financial technology company, Brex understands how great systems can enable people and businesses to achieve great things. We built Brex to be a global spend management platform that automates expense and accounting workflows and creates a closed-loop system that alleviates much of the financial burden through accounting automation. We’re confident in our tools because we use our own technology to manage our travel, expenses, and vendor payments — and so do leading enterprises like SeatGeek.

As you evaluate new SaaS solutions, ask yourself:

• What is the cost of the system compared to the cost of headcount?
• What's the need you're solving for, and can it be addressed through other means?
• What does system implementation and ongoing administration look like?
• When is the right time to switch systems, or when is the right time to switch from a manual process to an automated one?

By answering these questions, you can identify a solution that not only meets your current needs but also provides meaningful value to your long-term success.

“Brex automates 99.7% of our transactions with custom rules, slashing our accounting close process from 22 hours to just 2.
By automating receipts, memos, and category coding, Brex makes closing the books 10 times faster — transforming how we work.”

— Teddy Collins, VP of Corporate Finance, SeatGeek