For a while now, the general commentary around accounting has been around the rise in data entry automation spelling the death the traditional accounting industry and signalling the new approach to accounting.
Significant technological change and a shift in the market has forced accountants to re-structure their service offering in an effort to remain aligned with the needs of their clients.
Thanks to increased advancements in technology, number crunching accountants are now transforming their services into a holistic business advisory.
Which speaks the 542 Partners language! We believe a full-service accounting firm over a traditional compliance-based one benefits clients in the following ways:
A head-start on technology
Accountants already have a head start on technology, with years of experience and the un-matchable relationships with clients, meaning more customised services and recommendations.
Your accountant should make personalised recommendations such as the best accounting software and add-ons to suit your needs.
Having intimate knowledge of your business easily allows your accountant to recognise key trends and forecast future results. Putting them in a prime position to help you set goals (not only financial) that are attainable for your business.
Once you have your goals in place, your accountant can assist in tracking your progress and offer proactive advice, such as new software or technology.
Moving beyond compliance
At a minimum, attending to required lodgements with the ATO or other government bodies should be the least your accountant can offer. However, increasingly, your accountant should be looking forward, not backward. With the unique position accountants are placed in, together with the development of technology, there is little or no excuse for accountants not to be providing you with predictive information.
From simple tax forecasting, to more comprehensive scenario analysis, KPI monitoring to strategic insights, accountants are better placed the ever to be involved in business advisory.
At 542 Partners we don’t only look at the numbers, we are committed to helping your business grow and achieve its goals. We offer services to assist you at every stage of your business journey.
Speak to us today about to discuss your needs.
Love the blog?
Subscribe to receive it fortnightly.
What do you think?
We would love to hear your thoughts!