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The finance and accounting industry is facing an unprecedented talent crisis that’s reshaping how organizations approach their financial operations. While the national unemployment rate hovers around 4.1%, the accounting profession tells a dramatically different story—one of extreme scarcity and intense competition for skilled professionals.
The Numbers Don’t Lie: Accounting Talent Is Scarce
According to the latest data from the U.S. Bureau of Labor Statistics, the unemployment rate for accountants and auditors was just 2.0% during Q4 2024, and the rate for bookkeepers was 1.7%. These figures represent unemployment rates that are less than half the national average, painting a clear picture of just how tight the accounting job market has become.
The situation is even more striking when you look at related finance roles. Other finance and accounting positions with unemployment rates trending well below the 4.1% national average in December include financial analyst (1.9%) and compliance officer (2.2%). Robert Half’s recent research reinforces this trend, showing that 93% of leaders report difficulties securing qualified professionals in today’s employment landscape.
But perhaps the most sobering statistic comes from the Bureau of Labor Statistics’ employment projections: more than 200,000 accounting jobs are expected to remain unfilled in the United States by the end of 2025. This staggering figure represents not just vacant positions, but a fundamental gap between the demand for accounting expertise and the available talent pool.
The Ripple Effect: When Finance Teams Can’t Keep Up
The impact of this shortage extends far beyond empty desks. Finance and accounting teams are finding themselves overwhelmed, struggling to balance tactical demands with strategic initiatives that drive business growth. Manual processes are becoming bottlenecks, and routine tasks are consuming time that should be dedicated to analysis, planning, and strategic decision-making.
This talent crunch forces finance professionals to spend valuable time on data entry and invoice processing instead of high-value work that moves the business forward. The result? Organizations struggle to fill positions while underutilizing existing talent, creating a cycle where strategic mandates go unmet and growth opportunities are missed.
This reality necessitates a fundamental shift in how finance teams think about technology implementation. The time to automate is now—not as a luxury, but as a critical business imperative.
The Automation Imperative: Scale Now or Fall Behind
Smart organizations recognize that automation isn’t just about efficiency—it’s about survival in a talent-constrained market. By implementing automated financial systems, companies can offload routine tasks and redirect existing talent toward high-value, strategic activities. This approach allows organizations to do more with the same resources while positioning themselves to weather the ongoing talent shortage.
Companies that automate now are also increasing their overall efficiency and ability to scale. When the right talent becomes available, these organizations can onboard new team members into streamlined processes rather than perpetuating manual workflows that don’t scale.
Real-World Success: How Leading Organizations Are Adapting
Pro Football Hall of Fame: Streamlining Vendor Payments and Month-End Close
The Pro Football Hall of Fame recognized that manual vendor payment processes were consuming too much of their finance team’s time during the critical month-end close period. By implementing Tipalti’s automated payables solution, they streamlined the entire vendor payment workflow, from approval to payment execution.
The results were transformative. The organization saw significant improvements in their month-end close efficiency, with automated processes handling routine vendor payments while the finance team focused on reconciliation and strategic financial analysis. As their VP Finance, Matt Clapper, put it, “Tipalti has been a game-changer for closing the month. Digital approvals ensure invoices are entered correctly and on time, allowing us to manage previously insurmountable issues with ease.”
For Pro Football Hall of Fame, automation has allowed them to maintain accuracy and compliance while freeing up valuable time for higher-level financial planning that directly supports their mission and growth objectives.
Therabody: Manufacturing Excellence Through Automation
Therabody, a mid-sized manufacturing company, struggled with increasing vendor count and international payments. Their rapid growth trajectory highlighted the need for a payables solution that would allow them to maintain low headcount while increasing financial visibility.
With Tipalti’s technology, Therabody completely automated vendor payments, tax compliance, and approval workflows. This allowed them to minimize the burden of manual payables while maximizing their preparation and planning for the future. As Kevin Crowley, Thearabody’s Director of Accounting and Finance, confirms, “I can’t imagine what our AP process would look like without Tipalti. You can’t make decisions unless you have a quick monthly close, and you can’t do that without an automated finance system.”
Automation enabled Therabody to find ways to reduce costs and enhance revenues, which in turn helped them elevate their existing team to become vital strategic players in the company’s continued growth.
Sovrn: Scaling International Growth in the Digital Economy
Sovrn, a rapidly growing digital advertising platform, experienced limitations in handling international payments. Operational inefficiencies forced their team to process payments manually, which was time-consuming and inefficient, and led them to consider hiring more headcount to manage the workload.
Sovrn implemented Tipalti to automate its monthly payouts process, which saved four days each month in payment processing time. Automation also saved time with onboarding publishers, consolidating multiple approval workflows into fewer steps, and accessing payment information quickly. For Abby Herlein, Sovrn’s Financial Controller, “Tipalti makes [AP] simple and easy. Before, our operations were very clunky and manual. Now, it’s a streamlined process and a much better experience for everyone involved.”
With technology, Create Music Group has reaped the rewards of automation. The need to hire more headcount has been eliminated, and the team can focus on more critical tasks like supporting publishers and enhancing their services.
The Path Forward: Automation as a Strategic Advantage
The accounting talent shortage isn’t temporary—it’s the new reality that will define the finance industry for years to come. Organizations that recognize this shift and invest in automation now will not only survive the current talent crunch but will emerge stronger, more efficient, and better positioned for future growth.
The question isn’t whether to automate, but how quickly you can implement systems that allow your existing talent to focus on what matters most: driving strategic value for your organization. In today’s constrained talent market, automation isn’t just an operational improvement—it’s a competitive advantage that determines your organization’s success.
