Hi everyone and a big welcome from the whole team at KP Simpson certified public accountants.
These days it seems like everything and everyone is online – from shops to services. Accountancy is no different it seems. Indeed, in terms of accountancy, it may be changing, and challenging the face of the business.
David Oliver, non-executive director at MyFirmsApp outlined four of the biggest threats to the accountancy trade in an interview with economia news website. Among others, technology was highlighted as a particular issue.
In what Oliver says is an “unprecedented time of change” for accountancy, HMRC’s digitisation is changing the way accountants big and small are looking twice at the way they do business.
The solution to this, which according to Oliver has the potential to take away the “middleman” and allow clients to do the traditional job of accountants, is to engage in the mobile world, embracing technology as a help not a hindrance.
By changing their view of what is a vital part of modern day life, accountants can provide clients with the services and software they need – in the process preventing them from relying on often pricey software companies.
It’s not the only change that the accountancy business needs to make to stay ahead of the game so says Oliver. He says that the gaining and retaining of clients is vital, as is the limitations of certain marketing types.
The latter if correctly addressed could have positive effects for you as clients. 96% of firms Oliver investigated as part of his report did not have a ‘hook’ on their website – something to get the audience involved.
A suggestion: Offer something for free – be it a free report or even an app to download for potential clients to get involved with.
Whatever it is, a change can always be a good thing and accountants, like other businesses, need to stay ahead of the game. To find out about how we at KP Simpson are keeping up or to find out more about any of the services we offer, call us on 0191 420 0550 or get in touch by email at info@kpsimpson.co.uk .
Until next time!
