Insight and practical advice for today’s accountant

Insight and practical advice for today’s accountant

Accounting is a challenging and changing profession. Its continual modernization over recent decades has directly tracked the growth

Published By - WisdomPlexus

Accounting is a challenging and changing profession. Its continual modernization over recent decades has directly tracked the growth of technology. Our independent research explores accountants attitudes towards this and examines how their clients are changing.

What does this report contain?

We will learn in the report that nearly every accountant says their clients demand more, and also expect their accountant to provide business advice. This shifting tide is forcing accountants to explore ways to become even more productive. It is also freeing them up to spend time becoming their clients’ trusted advisor.

The research shows how to accommodate this change, accountant are considering the benefits that Artificial Intelligence (AI) can bring to a modern practice, with two thirds of accountants turning to AI for automation. Fewer repetitive tasks and fewer mistakes makes for better interactions with clients and improved service offerings. Technology brings clear benefits for accountants, but they need to learn new skills, anticipate the future and reorient their thinking to put their firm ahead. All while anticipating and adapting to the increasing needs of clients and offering competitive service. Accountants need to create the Practice of Now.

Why do need to read this report?

Launched in 2017, the Practice of Now report set an incredible precedent by consulting accountants across the globe to tap into their current thoughts and concerns. And to find out how they anticipate their practice looking tomorrow.

Expert insight then examined the scope and impact of changes being brought to practices all around the world. This all-new 2018 edition builds on this with fresh independent research that’s more extensive and far-reaching than ever. It uses expert input to bring the story up-to-date. We invite you to read through the report, comparing and contrasting your own views to those the research has found. Sage believes accountants and their clients cannot, and should not, be left behind as technology advances. Accountants have a duty to themselves and their clients to harness change, evolve their practice, and bring about exciting new possibilities.

Key Takeaways:

  1. The world of accountancy is changing as a new revolution takes hold. Accountants are being freed from the administrative burden of data entry. And they entering a world where administrative tasks are becoming invisible.
  2. With the Accountancy profession being more competitive than ever, the only sane response in dealing with a competitive environment is to double-down on the one thing a practice should always prioritise: serving their client base.
  3. There’s a message from this year’s research and it’s simply that smart accountants turn to technology to drive improvements to their businesses, and to create the space to become time-efficient business advisors for their clients.

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