Unlike most industries that are rapidly changing year after year, the accounting industry’s overall business structure and services have remained relatively the same. But, with automated accounting software, such as QuickBooks, TurboTax and Mint coming into the market, Accounting firms are looking for ways to stand out.
In order to deliver, Accounting firms and their partners are continuing to research and embrace the new generation of technology that can help them stay relevant and on top.
Erik Asgeirsson, president and CEO of CPA.com, says “We’re seeing broad pickup in cloud services and other emerging technologies. The next wave that leads to greater productivity and capabilities for advanced firms is fuller integration of these technologies and the elimination of bottlenecks in work processes.”
The 2016 National Management of an Accounting Practice survey found that the use of cloud services by Accounting firms has grown since 2014, with 56 percent of all firms surveyed saying they use cloud-based software, which is up from 48 percent in 2014 and 29 percent in 2012. Among other findings of the survey: