One of the biggest changes to be heralded by the introduction of AI so far as accountants are concerned, links to one of my long-term messages for accountants. How can you stand out from the competition? And, as a result, win more of the business you really want? Even before the launch
As 2023 dawns here are 10 New Year resolutions that I would encourage you to consider. Where possible you will also find links to earlier posts I have previously written about the topic. 1. Reducing the January rush Although I want to blame my clients for ignoring my persistent requests I have had enough and
If you’ve been around a while I am sure that you find the constant articles, posts and commentators telling accountants you have to move into advisory services both boring and repetitive. I’ve been debunking the hype here for well over ten years. Many commentators have also been naively forecasting the end of compliance work.
We have all heard the projections that compliance work is dying and that accountants must move into advisory services. This is not a new phenomenon. It started long before the pandemic. I first debunked the hype in 2009 so it really isn't new. What has changed though is the speed with which
There has to be a special reason for me to include an interview on my blog. On this occasion I wanted to follow up on a conversation I had with Phil Dewar Durie after I spoke at a recent conference for an international association of accountants. Something he said quite excited me
'Many commentators seem almost contemptuous when talking about accountants who focus on the provision of compliance services'. That is the first line of a post I wrote on this blog OVER TEN YEARS AGO in June 2009. Back then I, quite justifiably as it transpires, predicted that those commentators were being unduly
Thinking of expanding your service offerings? It doesn't matter whether you want to start providing 'advisory' services, tax advice or any other services. The same rules apply. And if you fail to take these into account you will struggle to make a success of your new 'offering'. If you are going to
Depending upon how pedantic you are, we are at the start of a new decade (the taxing twenties?). In any event, when you consider your plans for the immediate future, it's worth considering how different things will be by 2030. Given the pace of change all around us, we can reasonably expect
There is a popular old adage: If you carry on doing what you’ve always done, you’ll carry on getting what you’ve always got. Its origin is unknown and it is typically attributed to either Henry Ford, Tony Robbins, Susan Jeffers or Jessie Potter. Typically the statement is used to discourage people from
The first mobile phone I had was the size of a brick. That was in the mid 1990s. Within a few years I had a Nokia 5110. It was much smaller and compact. It was the first phone I owned that could send and receive text messages but it only had a
If your firm has yet to invest much in new tech I hope the following list will help you overcome your reluctance. And if you have been investing then maybe you can just reminisce as to what life was like beforehand. Or perhaps things have stalled and you'll recognise why when you
When I consider what the future holds for accountants I find it helpful to look back at predictions made in the recent past. Many other commentators seem to be unaware of the difference between genuinely new innovations and those that are variations on a theme. This is one of the reasons why
Everyone tells us about the pace of change and how fast it is. But when we step back for a moment, there are three separate issues to consider and the real rate of change for your practice may well be slower than others would have us believe. Too many people seem to
Not all accountants believe all of these fallacies. And some have been part of our psyche for so long we think they must be true. Others are repeated by salespeople and consultants who want you to believe stuff so that you'll buy what they're selling. But a salesman's assertions are not proof.
You're not alone if you're fed up of hearing commentators, software vendors and app developers tell you about your existing clients. I'm not in practice any more and I'm certainly fed up of it - as what they are saying makes no sense. Whatever new developments, new opportunities and changes come about
When I am invited to speak at a firm’s away day the organisers often want me to influence the older partners whom the management team consider to be complacent. They tell me that some of these partners, with their well established client portfolios, are resistant to change and to doing things differently.
An increasing number of journalists and podcasters want to interview me about my views of the future for accountants. On reflection though I suspect I am sometimes a disappointing interviewee. This is not due to excess modesty as regards my conversational skills or my ability to explain and justify my predictions. On
Have you ever thought about the similarities between accountants and doctors? And what we can learn from this? Let's leave aside the fact that many accountants have historically been described as general practitioners (GPs) - which is a direct take from the medical world. When we go to the doctor we expect
For 75 years, from 1911 until 1986, miners carried caged canaries while at work. If there was any methane or carbon monoxide in the mine, the canary would die before the concentration of gas reached levels that are hazardous to humans. This is the origin of the metaphor 'a canary in a
After I recently delivered a talk about the future for accountants I was asked a popular question: Do you see increased automation as a threat or an opportunity for accountants? I explained that I don't like giving a simplistic answer - although, if forced, I would have to say that automation, as ever,
Recently I was asked this question: "Can a traditional accountant also be a modern accountant?" The person asking me this was what we might think of as an 'old-school' traditional accountant. But they liked to also think of themselves as modern. I think they had seen an article that suggested that traditional
In June 2009 I wrote a blog piece titled: "The future of compliance services for accountants" I didn't go for big headlines in 2009. I didn't say anything outrageous and I didn't look to attract attendees at high-priced seminars to help accountants survive and thrive in a brave new world. I did
If you've been following me for a while you'll know I like to debunk the hype around many issues addressed by other commentators. Sometimes they are right on the money but often they are way off the mark - and this can be for any of a number of reasons. Are you
The biggest issue facing accountants in practice these days isn't the rise of robo-accountants, AI or cloud computing. The challenge that seems to hold many firms back is the same old chestnut it's always been. It's the difficulty in finding good people to join the firm. Almost every week I get approached by the
Accountancy firms need to evolve to address the changes that the future heralds. What changes? Well, there’s lots coming but the changes that will most impact your life and your practice depend on many factors. It is just daft, if not lazy, to suggest that the same issues will affect ‘all’ accountants
