Finance and accounting leaders have been facing a tough time finding qualified talent. Factors contributing to the talent shortage include an aging workforce, the Great Resignation, and a lack of skilled talent graduating and entering the workforce. 

A recent survey by AICPA substantiated this, with 87% of finance and accounting managers saying they find it increasingly difficult to secure the talent they need for accounting, financial reporting, and financial planning and analysis (FP&A). 

And yet, as finance and accounting teams continue to make strides in shedding performance-hindering processes and outdated infrastructure for new digital tools to build resilient and profitable organizations, the need for skilled talent continues to grow. 

Offsetting the Finance and Accounting Talent Crunch with On-Demand Talent

Due to talent constraints, many finance and accounting leaders have been leveraging on-demand talent acquisition platforms like Graphite to meet immediate needs. Doing so not only enables them to find top talent within 24-48 hours on average, but it's also a more cost-effective solution to finding, onboarding, and training a full-time hire when time is of the essence.

But outside of providing business leaders like you with another option for addressing the talent shortage, the use of independent talent can pay dividends in:

• Driving innovation
• Accelerating time to market
• Upskilling your current workforce 
• And more

How Companies Are  Leveraging Independent Finance and Accounting Talent 

On Graphite, we've seen how finance and accounting teams use independent talent to accomplish strategic goals while tapping into their expertise to build their workforce. 

Some of the most in-demand skills we see on the platform include:

• Financial reporting
• Financial modeling
• Financial planning and analysis (FP&A)

The demand for these skills makes sense. After all, these skills and functions enable businesses to chart the best course for success.

Of course, having a view into how you can find and use this talent can give you a better picture of the efficacy of this talent acquisition model. So we’ve collected these three customer success stories to show you how. 

Capitalizing On Marketing Opportunities with an Independent Financial Modeling Expert 

When this female-led growth equity investment company saw that the market was ripe with opportunity in 2021, it knew that it needed to act fast. But given the team size, the firm realized that it would need to add headcount to make good on those opportunities. 

Because the firm only needed about 10-20 hours worth of work per week for a 6-12 month period, it decided that onboarding an independent consultant versus a full-time employee would be the better option. Doing so would enable it to acquire the skill needed to get the work done without incurring the overhead cost of finding and retaining a full-time hire.  

Through Graphite, the firm was able to source four qualified candidates within 48 hours of engaging with an Account Executive (AE). After qualifying each candidate using Graphite's in-app video and chat messaging features, the firm onboarded an independent financial modeling expert. 

The selected expert had extensive experience across investment, banking, private equity, and strategy to review and monitor potential and existing growth equity investments.

Driving Revenue Growth with FP&A Expert 

Krispy Kreme has built a track record for driving revenue growth since opening its doors in 1937. So when it decided that it wanted to maintain the momentum of its current growth phase, it recognized that it would need to bring in an expert that could guide the business for the next couple of years. Rather than engage a consulting firm, Krispy Kreme decided to bring in an independent consultant. 

More specifically, the company wanted a proven FP&A subject matter expert. Someone proficient in monthly and year-end performance and analysis and more. After learning more about Graphite, its platform, and its capabilities, the company engaged an AE to find an independent consultant that met its criteria. 

The selected independent FP&A consultant had a background in working with multi-unit brands in the retail and restaurant industry. They also had a well-rounded background, boasting an employment portfolio working with the likes of Deloitte, Blockbuster Inc, and Taco Bueno Restaurant. 

Onboarding a Director of Finance and M&A to Lead Business Transformation 

A transportation logistics company was evolving its business to achieve transformation. It wanted to consolidate different businesses within its portfolio to offer value-add solutions to its customers that leverage technology. 

In doing so, the company could increase network density and coverage, drive efficiencies, lower costs, and improve service. But to achieve the next level of growth, the company realized it would need guidance charting the best path forward — ideally, a Director of Finance and M&A. 

Instead of spending two-plus months hiring for this role, the company leveraged Graphite to find the needed talent while also obtaining cost savings. Within 24 hours of engaging an AE, the company was able to identify an independent consultant that best fit the role. 

The company onboarded an independent Director of Finance and M&A with prior experience at PNC Financial Services. Acting as the face of the department, the independent expert worked with key stakeholders and team members to facilitate the next level of growth by owning all financial aspects of strategic planning, annual operating plans, forecasting, and consolidation. 

Not only was the company able to attain cost savings as a result, but it also completed this initiative in three months. 

Leveraging Independent Finance and Accounting Talent at Your Organization 

Despite market uncertainty, the labor market remains tight. There are about 1.7 job openings per worker based on the latest BLS report release. Sure, you can keep relying on traditional talent acquisition models. But as you gear up for 2023 and beyond, you likely don't have the time to get the talent you need to set up the financial models and analysis needed to drive growth in the upcoming year. 

With agility becoming the new necessity, adding flexibility to your workforce to better respond to unforeseen market forces will be key. On-demand talent acquisition platforms like Graphite can help. By building a more flexible work model, teams become more agile as they focus on transforming the role of finance and accounting. 

Interested in learning how you can leverage Graphite's pool of 8,900+ qualified independent consultants? Connect with an Account Executive today to learn how.