Ed Molyneux, chief executive of FreeAgent, discusses the opportunities being driven by Open Banking, technology adoption in the accounting sector and MTD. He says that at present, accountants are behind the curve when it comes to technology adoption, due in part to poor experiences with software in the past, but says this is changing all the time, particularly with the future introduction of MTD for income tax. “One of the opportunities we see is greater integration between banking and accounting. It is a data problem, the idea of having to get your bank statements into your accounting system somewhere. A lot of those problems are being solved by Open Banking, so the convergence of accounting and banking is on its way.”
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.
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