How Indians are Selling Accounting Services to the US, UK, Australia | Sarthak Ahuja

Sarthak Ahuja • 4 days ago

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What This Video Is About

The video discusses the opportunities and challenges in the accounting outsourcing market, particularly for Indian firms looking to provide services to clients in the US, UK, and Australia. The global accounting outsourcing market is roughly $50-60 billion and growing at 8% per annum, with the US accounting for the largest chunk.

Major Ideas Discussed

  • The US CPA exam has seen a decline in participants, creating a shortage of accountants in Western economies that Indian firms can fill.
  • The market structure is four-tiered, with the Big Four, other consulting firms, midsize and small CA firms, and freelancers or independent accountants.
  • There are three billing models: seat, service, and system, each with different pricing and requirements.
  • The US market offers the highest premium and growth rate, but each market has unique challenges such as time zone differences, legal complexities, and compliance requirements.
  • To succeed in this market, it's essential to learn accounting software, ERP software, document management software, practice management software, and international accounting standards.
  • The best approach to finding clients is to channel through other accounting firms in the target geographies and attend accounting expos and events.
  • AI will disrupt hourly billing, but it will not replace human judgment and expertise, and upskilling in tech and AI tools will become essential to remain competitive.

What to Watch Next

The video suggests that Indian firms should monitor the growth of the accounting outsourcing market, the increasing demand for high-quality services, and the need to upskill in tech and AI tools to remain competitive. Additionally, firms should be aware of the unique challenges and requirements of each market, such as time zone differences, legal complexities, and compliance requirements.