Accountants can be an amazing communication channel for the small to mid-size business. Every day there are millions of business conversations between SMB’s and their accountants and the right conversations can change businesses and lives.
Cloud accounting platforms are an accepted reality and are becoming a core feature for many businesses as recommended by their accountants.
Other cloud services need to educate accountants on their services and accountants in the know are open to this training. With advisory services now accounting for a significant proportion of a firm’s’ revenue, accountants want to know how they can add value to small to mid-size business. As cloud accounting platforms simplify the grunt work behind book keeping, both accountants and businesses have better views than ever before of their position. It comes as a surprise to some accountants that they need to become IT consultants or a tech company, but in order to add true value, this is the new reality. Technology knowledge is now at the core of accountants advisory service.
In order to adjust to this new world order, both accountancy firms and small business are in the market for the same thing – software to alleviate time consuming administration tasks to allow for for complete engagement in revenue earning work. No more human speed. No more getting caught in the weeds of day to day firefighting. Cloud accounting has allowed for lazer focus on the books – now it is time for the same impenetrable focus on making the money.
With 83% of small to mid-size businesses listing ‘overseas expansion’ as their top priority (Forbes, 2017) accountants need to position themselves to expertly and responsibly advise on this growth. Successfully scaling any business depends on the ability to cost effectively and efficiently replicate sales and service delivery infrastructure.
BriteBiz harnesses the power of process, mastering sales automation, workflow and digital documents along the world’s most powerful one click sync to Xero or Quickbooks on one platform. Efficient, repeatable sales, service delivery, consistent business structures, integrated with live accounts for the first time, in one place.
The focus historically has been on enterprise level platforms on server based architecture enabling multi- nationals to sweep up a global audience in a repeatable way. SMB’s have largely been ignored in this space to date. Rapid innovation however sees SMB’s now being able to adopt technology in a more agile way than multinational juggernauts. For the first time SMB’s are capable of being competitive in a global environment at speeds not seen before by leveraging the kind of tech that enables consistent and rapid expansion.
According to Forbes (2017) 90% of scaling companies fail – not because of the product or market or team, but because of lack of process governing their business growth. Given the risks associated with expansion, streamlining business processes should be considered best practice for business growth.
Although the pace of cloud adoption is accelerating exponentially, we are still very much at the dawn of this digital age. The mass adoption of email and smartphones in the last decade combined with current adoption of cloud technology has revolutionised the business landscape.
Enterprising accountancy firms and businesses will allow cloud to permeate and envelope their processes and structures to reduce the friction and error caused by dependency on human speed. Both the accountancy industry and the business landscape are poised for massive innovation to allow synchronised growth.
In a competitive industry, standing out as a accountancy firm is imperative. Tech knowledge is now a competitive differential. Through providing clients with best in class, end-to-end business management solution with the world’s most powerful integration to Xero can underpin a firm’s USP.
Accountants as the new world tech advisors are positioned to ensure their clients get the max benefit from their software. This puts accountants in a very powerful position.
Growth Hacker Capes at the ready.
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