The four sights of connected accounting
Introducing the sights you need to acquire for future success.
Technology has already changed bookkeeping, making it easy for small businesses to digitally manage their finances with the minimum of effort and with no accounting expertise.
Similar technology is also set to transform the lives of accountants. Accountancy will no longer be driven by number crunching and standard compliance tasks. Automation and technology will do that. What will matter is client service and cultivating relationships supported, and informed, by technology. This is because the client’s world is being disrupted by new technology as much as accountancy is. Clients need accountants to help them prepare for the complex challenges of the current and future marketplace. They want, and value, advice and that’s a people business, augmented by technology.
Clients will value accountants who can act as their most trusted and valued business advisors. Their accountant will become an extension of their management team – using real-time data to explain what’s going on in their business, inform their decisions, and solve problems, even before they arise.
Success in the future will come to those firms that use technology to connect real-time client data with automated workflows or processes, and then collaborate and communicate with clients to get their compliance work completed efficiently.