Azets sees demand for outsourced services rise 20%

Azets has seen demand for outsourced services rise by 20%, as it also recorded year-on-year revenue growth. 

This follows a series of “significant” five-figure instructions from medium to large owner-managed businesses across the Yorkshire region. 

According to the firm’s accountancy and business advisory team, the traditional image of bookkeepers and accountants “no longer holds true” as more firms turn to highly qualified professionals for advice. 

Azets’ ABAS team has also traced the rising demand to the acceleration of accounting technology along with a skills shortage and talent crunch in the industry. 

Matthew Grant, partner at Azets and head of ABAS for Yorkshire, said: “The landscape has changed massively in outsourcing for accountancy and business advice.

“Traditionally, the image of a bookkeeper may have been someone who worked for a micro business processing invoices because the owner did not have the time to do it themselves but the role and value of outsourcing has changed dramatically.”

He added: “There has been a considerable rise, 20% year on year in Yorkshire for Azets, in outsourcing, due to the availability of technology and a shortage of qualified and experienced accountants.”

Both ICAEW and ACCA have also warned of shortages in the profession, as half of professional accountants are expected to leave their employer for their next career move. 

A Financial Professionals Index (FPI) report of 2023 highlighted by the ICAEW found a lack of candidates searching for job vacancies in the UK’s top 20 cities, with Manchester and Nottingham being the worst followed by Liverpool, Leeds, Brighton and Sheffield.