Silverfin UK article

The accountancy practice of the future

A new kind of accountancy firm

Accountancy is at a turning point.

The traditional ways of working are changing at an incredible rate – all driven by the fast pace of technological change, digital transformation and efficiencies that cloud, automation and artificial intelligence (AI) are bringing to the industry as a whole.

There’s a 95% chance that accounting will be automated by 2033, according to recent research – a shift that makes it it’s increasingly vital for firms to offer value beyond pure compliance work.

What’s also changing are the expectations of your firm’s business clients. Tech-savvy business owners want more from their accountant than just a set of accounts and an annual tax return.

Business advice, strategic planning and financial forecasting are all core areas that the new breed of client wants from your services – and the firms that don’t offer these are likely to struggle in the new digital marketplace.

So, how does your firm meet the challenge?

In short, there’s an imperative to rethink your firm’s purpose, transform our service offerings and evolve into the modern accountancy practice your clients require.

“There’s a 95% chance that accounting will be automated by 2033”

— Oxford University and Deloitte UK

Practical ways to evolve your services

In this eBook, we’ll guide you through the key challenges of developing new
service offerings, and will take you step-by step through the important stages of
the transformation process –

You’ll discover how to:

  • Make your accountancy firm ready for the changes
    in the accounting world.
  • Uncover the different areas where you can increase your services and
    convert your clients over to these higher-level services.
  • Enhance your business model through the benefits of technology.
  • Become a truly proactive adviser, with software efficiencies allowing you
    to shift from ‘one-client-at-the-time’ work to advising multiple clients at the
    same time.
  • Leverage your financial data to create more insights
    into your client portfolio.

So, let’s start planning your transformation and crafting a new range of service offerings.

Silverfin UK

Silverfin UK

The Silverfin platform is a unique structured Data Hub delivering an end-to-end cloud solution that makes Connected Accounting happen. We partner with accounting firms to enable their digital transformation journey providing data aggregation, workflow standardisation, compliance automation. This supports value added services and advanced reporting. With more than 150,000 companies on the platform linking most common accounting software suites, Silverfin is proud to streamline the internal workflow process of working papers and compliance reporting. Talk to us about becoming a true Digital Firm.