How Will Accounting Firm of The Future Do Business?

How-Will-Accounting-Firm-of-The-Future-Do-Business

A FUNctional Take On The Accounting Firm of The Future!

With cloud, automation, integration, more powerful software that can perform increasingly more complex decision-making etc., what does the future hold for the accounting profession?

My take is that the biggest strength of the accountants will NOT deplete with the onset of technologies. It will just get leveraged differently by clients. And I think, that everlasting strength of accountants is:

Intelligence from knowledge that creates insights for the benefit of clients.

As the adage “when life gives you lemons, make lemonade” says, every change, every disruption in any industry and profession gives rise to new opportunities and more often than not, innovation leads to creating new ways to fulfill the fundamental needs of customers.

Accountants will continue to meet the fundamental needs of clients, albeit in new ways. Here’s one of my thoughts:

When information connects more with information (automation, integration, etc.), people will connect more with people.

I think it will mean clients will interact more with accountants, and hence, accountants will need analytical, interpretational, social and communication skills more than ever before.

What do you think? Please share your thoughts.

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