Combat Labor Shortages in Finance with Outpave

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The finance industry is facing one of the most significant talent shortages in recent history. With fewer graduates entering the field, an aging workforce, and growing financial reporting demands, finance departments are under immense pressure to do more with fewer people.

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A recent report from the American Institute of Certified Public Accountants revealed a 7.8% drop in accounting graduates in 2022 — the largest decline in nearly three decades. Compounding the issue, the 2024 ManpowerGroup Employment Outlook Survey found that 73% of finance employers are struggling to fill critical positions.

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Given these realities, organizations must rethink how they manage their financial operations. Instead of focusing solely on hiring, companies can turn to automation and digital tools to maintain efficiency and accuracy. This is where Outpave offers a transformative solution.

The Impact of the Finance Labor Shortage

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The shrinking talent pool has real and immediate consequences for finance departments:

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• Increased workloads: Fewer staff members mean more responsibilities per employee, often leading to overtime and stress.
• Longer processing times: Approvals, reimbursements, and reporting timelines can slow down without adequate support.
• Higher error rates: Manual processes under pressure are more susceptible to mistakes, risking financial accuracy and compliance.
• Decreased efficiency: Overburdened teams have less time for strategic activities like forecasting and financial planning.

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These operational strains can lead to employee burnout, higher turnover, and ultimately, weakened organizational performance.

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To sustain growth and financial health in a constrained labor market, businesses must enhance their operational efficiency without proportionally increasing headcount.

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How Outpave Provides a Solution

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Outpave is designed to empower finance teams to achieve more — without adding staff. Our expense management software automates critical financial tasks, freeing your team to focus on what matters most.

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Here’s how Outpave transforms finance operations:

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1. Automated Data Collection

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Manual entry of receipts and expense reports is time-consuming and error-prone. Outpave’s digital receipt capture and direct integration with your accounting systems streamline this process, eliminating repetitive tasks and reducing the risk of human error.

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2. Smart Expense Allocation and Budget Tracking

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Categorizing expenses and tracking budgets no longer requires manual spreadsheets. Outpave enables quick, accurate expense allocation with just a few clicks, giving your finance team real-time visibility into spending trends and budget adherence.

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3. Effortless Reporting and Insights

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Forget labor-intensive reporting processes. Outpave continuously monitors expenses and generates easy-to-understand reports, offering insights that help leaders make informed decisions without delay.

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Why Efficiency Matters Now More Than Ever

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Implementing an expense management platform like Outpave isn’t just a short-term fix — it's a strategic investment. With the finance talent gap expected to persist, the companies that thrive will be those that optimize their operations now.

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Benefits include:

• Sustained financial accuracy even with smaller teams
• Improved employee satisfaction by reducing administrative burden
• Faster closing cycles and enhanced operational agility
• Stronger compliance and audit-readiness

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Rather than overloading already stretched teams, companies can protect their talent and their bottom line by investing in the right technology.

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Take Action with Outpave

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The finance labor shortage is real — but with the right tools, your business doesn’t have to slow down. Outpave helps organizations automate expense management, improve financial accuracy, and scale operations without the need for constant hiring.

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Instead of chasing talent, empower your team with smarter, more efficient processes. Request your demo today.

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