Top accounting trends to watch in 2016

StuartBusiness Technology

As we round out another year (and get over the fact we’ve just written that sentence), we’re excited about what 2016 holds for businesses. There’s change in the air for the world of accounting and it only means good things for our clients.

Gazing into our crystal ball we’re predicting 5 trends that will shape 2016 for small business owners.

Advice wins the Advice v. Compliance game

There’s no doubt there’s been a seismic shift in the way accountants deliver their services. Gone are the days of paper pushing and number crunching. While we still crunch the numbers, it’s much more than that and 2016 will prove this.

Accountants are focused on adding value to their clients and crunching the numbers is simply a bi-product of what we do. Business advice, technology and processes will play a big part in the role of the accountant in 2016.

Technology will connect the borderless enterprise

In 2016 the workforce will extend beyond employees, to reach any user connected to the Internet. Cloud, social, and collaboration technologies will allow organisations to tap into vast pools of human resources across the world, driving business growth and innovation.

Technology will integrate. Really.

If 2015 was the year of the app, 2016 is the year of the integrated app. It’s no longer a question of whether to adopt new technology, it’s a question of how to integrate new technology with other newly adopted technology. Creating streamlined processes and seamless integration is the way of 2016.

The ATO will launch their digital crusade

The ATO has started consultation with the community on their ‘Digital by Default’ initiative, which seeks to implement a paperless operations system. This ATO-led initiative will require people still using paper products to switch to ATO digital services.

Driving their digital crusade is the same driver behind the shift in the role of the accountant: added value. According to the tax office, the Digital by Default initiative places “the taxpayer experience at the forefront of service delivery” a contrast to previous ATO led messaging.

 

In 2016 we’re embracing these and more exciting trends.

We’d love to help you get on board too. Let’s talk.

 

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