The Real Time Accountant

Are you a ‘Real time Accountant’ (RTA) or a ‘Redundant data Accountant’ (RDA)? The vast majority of Accountants I meet have around 80% of their revenue coming from annual compliance services. That means once the financial year ends they start preparing financial information so it can be lodged with the various Government agencies. By the…

The Future of Compliance

There is one word to describe the future of compliance….commoditized. With a repetitive task eventually systemization kicks in and after that commoditization. Once a product is commoditized then price pressure and new competition takes over. This is what is happening with statutory compliance for individuals and companies. The reason is simple. Cloud accounting software. New…

Accountants Benchmark Report – now open

In 2013 over 540 firms participated in our annual benchmark report, making it the  largest benchmarking report of its kind. Open to all Accounting firms globally the report anonymously measures firms against others in the industry. Firms are invited to input their data into the online system up until the 15th of February cut-off date. The benchmark reporting system captures data such as firm size, number…

Client Retention

As cloud technology, commoditisation of compliance and social change takes hold there will be an issue of client retention on the horizon. Most Accounting firms have very high client retention. I would argue that this is because of ‘financial intimacy’. You know things about your clients that very few do. Focusing on client retention is…