Intuit survey highlights 'tech divide'

Intuit UK

UK practitioners have been caught on the hop by clients who are demanding advisory and technology services that their accountants are currently failing to provide, according to new research from Intuit.

At its #futureaccountant conference in Kensington this week, the US software house revealed the findings of its Changing role of accountancy survey of 100 practitioners and 200 small business owners and managers. Among its key discoveries the survey found:

  • 88% of SMBs think the cloud will enable them to work more closely with their accountant and develop the right relationship
  • 84% of small businesses would like their accountant to act as an external CFO
  • 82% of SMBs think accountancy firms should be more proactive in developing services, particularly around business advice. Yet many accountants are failing to provide new services; for example 81% of the business respondents expressed a need for project financing and reporting, but only 36% of accountants currently offer such a service
  • 61% of clients wanted a cloud-based solution - yet a little over a third (37%) of accountants could furnish this request.

Continued...

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Hannahmc8's picture

Future proofing practices with Financial Intelligence

Hannahmc8 | | Permalink

It's refreshing to see this shift in perspective. We are climbing up the Roger's Bell Curve of technology adoption within the industry, and appear to have moved into the early majority phase, but there's a way to go. 

Xero and Intuit are two of many cloud solutions steam-rolling through practices up and down the company and have effectively waged war against each other. This delivers a huge benefit to any consumer using these cloud power-houses to manage their day-to-day, as they will find intuitive (pardon the pun!) and time-saving workflows and a solid ability to get an overview of their business. 

It doesn't stop there though. If Xero and Intuit are the day to day, then there are also cloud tools that can aid accountants and business owners equally when bringing the sometimes dry nature of number crunching to life. 

If these are the stats:

  • 88% of SMBs think the cloud will enable them to work more closely with their accountant and develop the right relationship
  • 84% of small businesses would like their accountant to act as an external CFO
  • 82% of SMBs think accountancy firms should be more proactive in developing services, particularly around business advice. Yet many accountants are failing to provide new services; for example 81% of the business respondents expressed a need for project financing and reporting, but only 36% of accountants currently offer such a service
  • 61% of clients wanted a cloud-based solution - yet a little over a third (37%) of accountants could furnish this request.

then complimentary Financial Intelligence software such as http://crunchboards.com is the frosting to Xero or Intuit's delicious cake. Collaboration, future-prediction, scenarios, targets & alerts, cash flows and KPIs all enable the future relationship that clients want. Effortless financial management using a fully integrated offering is the way forward.

CrunchBoards is available for early VIP Beta Signups now.