The Future of Accounting is Now!

If you're thinking that automation and artificial intelligence (AI) in the accounting field is a long way off, think again.

In this quick 3-minute video Martin Bissett shares what the top accounting firms in the world are doing now, and how that will affect your accounting or bookkeeping practice in the near future.

Are you ready?

Get all the details for the free live webinar class:

From Striving to Thriving

The Simple Success Blueprint for Making the Transition
to a Consultative Accounting or Bookkeeping Practice

Video Summary

Martin attended the Digital Accounting Forums where the top Accounting firms from around the world gather annually, along with the global accounting professional networks.

The information shared at these forums are what smaller accounting firms will be facing within two to three years. Major changes are in play now.

Some of the changes that we will be seeing soon, as this is already what the largest accounting firms and their clients are involved with as a result of technological momentum…

1. Drones are being used on stocktake / inventory rather than humans

2. A majority of entry-level accountants being brought in to the accounting firm preferred to be managed by a robot rather than a human (!)

3. Some entry-level accountants were being let go from their positions because the skills they were good at are no longer useful to the firm.

The very large firm that was sharing these trends said that their job now is to turn scorekeepers into story-tellers. Accounting professionals, to remain viable in the future, need to be transforming from bean counters and history recorders into those who can tell stories to connect on a human level with clients and potential clients.

This is how to make the transition to advisers and knowledge partners. New skills are needed to serve business owners. Skills that create deeper value to the clients, and command higher fees that are not dependent on compliance work (though that will still be part of the package).

If this is what is happening now at the very large accounting firms, how much time do we have until clients start asking for us to fill the advisory role and not just compliance level services?

We need to change with the times and learn how to give clients what they want more than the ‘necessary evil' of compliance work.

Compliance services are not going away, but the perceived value is already going down due to changes that affect us all with automation. That means that if we don't start making the transition to advisory services now, it will get harder and harder to stay at the same level of profitability, and nearly impossible to grow our firms at a sustainable rate.

The mission of Addviser+ is to gather the community of accountants and bookkeepers who are embracing the future of the profession to move from compliance-only services to truly stepping into the role of trusted advisors to our clients, providing premium level services for predictable growth.

We do this by means of bite-sized steps through online training programs, both self-paced and live sessions.

One such live class that is being offered for free is coming up on Thursday, October 18th entitled…

From Striving to Thriving

The Simple Success Blueprint for Making the Transition
to a Consultative Accounting or Bookkeeping Practice

Do you feel ready for the changes coming upon us quickly and making the leap to advisory services? Are you already seeing changes in your practice?

Please comment below. We'd love to hear your thoughts.

Author: Gabrielle Fontaine

Freelance bookkeeper, trainer and consultant who works with internet savvy business consultants and bookkeeping professionals to maximize cash flow, streamline online workflow and grow true win-win success... one client at a time. Browse Gabrielle's courses OR

2 thoughts on “The Future of Accounting is Now!”

  1. Great insight Martin. Developing a specialization in some niche is critical in today’s world ?.

    #TheCPATaxProblemSolver’s specialization is advising folks who have IRS tax problems with what their best collection alternative is.

    Many of the people who need my help are in adverse positions and face tax liens, tax levies or wage garnishments.

    I also have expertise in the “compliance services” of accounting and tax preparation!

    Additionally I automate accounting systems and perform tax planning.

  2. Thank you Keith,

    Therefore, you must have stories of incredible turnarounds in people’s personal and commercial lives to tell.

    Do you capture those?

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