Based on our research, the challenges that accountants are facing have remained pretty constant over the last few years. But what’s different now is that the pace of change is significantly different to only a short time ago.
There is no shortage of innovations, digitalisation and exciting changes to our industry. At Wolters Kluwer, we foresee a not-too-distant future in which automation has freed accountancy firms to capitalise on their human strengths and skills. In fact, it’s already beginning to happen, as shown in the rise in demand for advisory services.
Many firms are already turning to automation to free up time to replace the squeeze on traditional fee earning potential with value added services. We expect to see the acceleration of process automation in 2020 as practices continue to define and automate routine compliance tasks.
This is the first of our latest video series looking at the challenges and opportunities facing accountants today. In a world of innovation and digitalisation, productivity and efficiency is the name of the game. In this video, Product, Strategy & Transformation Director, Gareth Cram and Chartered Accountant Dean Shepherd reveal changes and priorities facing accountants this year and what practices can do to increase capacity.