In a joint collaboration laying the foundation for Practice Excellence Week in October, ACCA and AccountingWEB have produced a series of three videos highlighting the factors that are driving the evolution of forward-looking accounting firms.
Setting the scene for the project, ACCA head of advisory Glenn Collins drew parallels between the association’s professional accountants of the future research and the examples that have emerged from the Practice Excellence Awards.
“We encourage all our member firms to enter awards such as these,” said Collins.
“The whole process of stepping back and writing down what you do well can really help focus your attention on what matters to your clients. That’s the starting point for effective customer service.”
In the first “secrets” video, Collins and AccountingWEB global editor John Stokdyk dig into one of the dominant trends to have emerged during the past few years: the rise of specialist, niche practices:
Why go niche?
One of the key maxims in the technology industry is to “get big, get niche or get out” and signs are emerging that accountancy practitioners are taking this idea to heart:
Numerically, firms that focused on specific market niches were the most prevalent among Practice Excellence Award entrants last year. All nine New firm entrants launched themselves into niche sectors, but the specialist pathway was also popular among mid-size and t__cta">t yeOplenc alsine o popsytra last
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