What is the accounting talent challenge and how to solve it
9th Feb 2018
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Accountancy is no longer a static model and is now being shaped by new technology such as real-time data and cloud forecasting.
However, this new accountancy model, which uses technology to improve the accountants’ relationship with their clients, hasn’t been adopted yet by some accountancy firms.
For instance, did you know that 1 in 5 UK accounting firms still use paper ledgers?
Key transformational factors
The profession is changing, and the current transformation of the accountancy profession is being driven by these factors:
Technology: Software will automate admin and some bookkeeping tasks.
Advisory services: Technology will free time for accountants to spend in providing advisory services to their clients.
Employees with new skill sets: Firms will need employees who also have good technical, client service and advisory skills.
Only by finding employees with technical and client service skills, firms will be able to make the most of the possibilities of that the future of the accountancy profession will bring.
How to find the right team
Changing their people strategy will be indispensable for firms wanting to meet the changing needs of accounting in the digital age and evolve their client relationship. But what can you do to achieve this goal?
Our five-step guide provides the foundations for sourcing the right talent, building a proactive team and creating a practice that can embrace a more relational approach to accounting.