Updated: Sep 19, 2022
Metaverse and Web 3.0 have taken the world by storm
Web 3.0 can help further optimize internal processes for CPAs like training & recruitment.
Facilitate access to a new target audience segment for remote tax preparers.
The adoption of Metaverse helps build goodwill as a modern firm.
CPA firms have a crucial role to play in monetizing intellectual and digital property.
Contrary to popular belief, the golden buzzword of the year, the metaverse, is a far cry from an isolated bubble about to burst. After all, seeing is believing. At its core, the metaverse is just the next step in the chain of evolution of the Internet.
Although experts over the world are yet to agree on a singular definition, it is currently best understood as various platforms providing similar multidimensional, immersive, virtual landscapes where individuals - natural & artificial - can come together to conduct most real-life functions without traveling a few hundred miles, while retaining a realistic quality of user experiences.
Echoing Glenn Friedman, CEO Prager Metis, Metaverse and Web 3.0 are the Internet on steroids besides being an unavoidable form of our future.
Metaverse may be a few years away from global adoption, but the wheels are already in motion. Businesses have already started buying expensive spaces, investing in highly controversial NFTs, and speculating on cryptocurrencies.
The million or perhaps - in the words of KPMG - the multitrillion-dollar question remains - where do the accounting firms fit in?
1. Internal process efficiency
Metaverse offers remote bookkeeping companies and organizations an opportunity to further optimize internal processes, especially human resource management. In a post-pandemic WFH-oriented world, it holds the key to better acquisitions, training, onboarding & upskilling of the existing and new workforce.
2. Expansion of target audience
Metaverse-oriented businesses and startups seem to be popping up for a dime a dozen. Establishing your firm as a modernist evolutionary helps open a new market segment with generous growth opportunities.
The success rate of contemporary branding or marketing is dependent on several factors, not least of which is creating an impactful, distinguishable link in the minds of your target audience. Metaverse allows your tax preparation services to differentiate themselves from the chaotic advertising onslaught of their competitors.
4. Monetizing intellectual property
Linking speculatory digital currencies and assets to real-world financial transactions for accounting purposes is one of the biggest challenges, as success in Metaverse depends upon the quality of education of the workforce involved. This is also the primary reason unique hiring campaigns are necessary for a smooth transition to the digital landscape.
Nonetheless, with extensive tracking, irrefutable compliance determination through blockchain, scaling of the workforce, clientele, and business, Metaverse is nothing short of a land of opportunity for all businesses including remote bookkeeping services, irrespective of the regulations being nothing short of the Wild West. Moreover, if you get stuck, feel free to reach out to our experts!
At Pransform, our team of certified professionals with several decades of cumulative experience works tirelessly to provide the best back-office marketing solutions to Accounting and Tax Professionals. We collaborate closely to help you formulate and implement a tailor-made digital strategy based on your brand’s requirements and customers’ preferences. Schedule a call with us today at www.pransform.com/contact!