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Generalist or Specialist – Who Owns the Future?

What sort of accounting firm do you think will own the future? One that provides a broad range of accounting and advisory services or one that specialises in a particular service? One that knows what type of client it wants to attract or one that will embrace anyone...

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Reality Check for Accounting Firms

The 2015 ‘The Good, The Bad and the Ugly’ Benchmark Report of the Australian Accounting Profession highlighted some startling results: Some of the key findings included: A fall of 8.9% in average revenue per partner A fall in average client fee of 8.0% A decline in...

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High Tech with a Soft Touch

The so-called ‘digital disruption’ is leading to significant changes in the way that the leaders of accounting firms manage their work, their people and their clients. Cloud accounting, bank feeds, client portals, standard business reporting and eLearning platforms...

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3 Tips on how to keep Millennials engaged at work

A lot has changed about the workforce in the last decade or so. Businesses have reached a point where they no longer place the greatest focus on attracting and retaining customers but on finding and holding the right employees. The Millennials, born from 1980 to 2000...

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UPSKILLING YOUR TEAM IN AN ERA OF AUTOMATION

There’s no doubt that technology is having a significant impact on the way that financial data is collected, processed, analysed and delivered to clients. And it’s clear that roles and responsibilities are changing as firms understand how technology can be used to...

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5 skills for the post-automation workforce

Automation is upon us whether we like it or not. The world is constantly striving for progress and these days it’s all going digital – and I do mean all. If today it’s safe to say that there is an internet of people, very soon it will be an internet of things with the...

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Navigating Technology Choices

Download "The Ultimate Guide to Selecting and Implementing a Cloud-based SMSF Administration Solution". TBAR has arrived and with its arrival comes the need for more rigorous processing and reporting of SMSFs. If your current platform is not a fit-for-purpose, cloud...

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Pricing Pressure Top Of Mind For Accounting Firms

The recently published CommBank Accounting Market Pulse Report [June 2018], observed that negotiating price with clients was the #1 reported business challenge over the past 12 months for top 100 accounting firms. [Click here to view the report]. The report observed...

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Increasing leverage in professional service firms

Anyone who has ever worked in a professional firm knows how important leverage is in achieving strong results for both the firm and clients.  Leverage allows work to be assigned to people with the most relevant skills at the most appropriate cost base. And it’s this...

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Why millenials prefer blended learning

Many harsh words have been spoken and written about Millennials: they feel entitled, they are easily distracted, they want balance in their work life, they always challenge the status quo. The world will never be the same as it was BM — before Millennials, that...

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Rise of the Solopreneur Accountant

Digital disruption and increasing price pressure for compliance work within the accounting sector has resulted in an increase in the number of mergers and acquisitions in recent years. Many sole practitioner firms experiencing static or declining profit are electing...

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Where will the analysts come from?

The development of business analytical skills is increasingly important as partners and managers of accounting firms make the transition from a compliance to advisory focus in their relationship with business clients. In its broadest sense, a business analyst is...

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