Reduce time on data basics, accountants told
Accountants willing to adopt new technologies and update their business models will thrive in an age of increasing commoditised expertise, says a software developer.
Speaking at Intuit QuickBooks Connect Sydney 2017, Nicolette Maury, Intuit vice-president and country manager, said the disruptive nature of technology meant that accountants could not afford to stand still and offer the same products.
“[Small businesses] want someone who is not just going to tell them what their compliance position is and tell them what they could have done differently in the past six months to have a better business,” Ms Maury said.
“They want someone with them day-to-day helping them grow their business and anticipate what they are going to need going forward.
“[Accountants need] to reduce their time spent on data entry or the checking of the books and to be able to invest that time in consultation with their clients, getting to know their businesses, getting to understand their aspirations and building out a plan to help them get there.”
Ms Maury acknowledged the level of “passion and innovation” displayed by Australian accountants and bookkeepers in the face of disruption, saying technology ultimately helps practices become more efficient.
She urged them to move beyond a traditional accountant role and become trusted advisers to SMBs in the technological realm.
“Small businesses are overwhelmed by what’s available in the market and they want tools that help them streamline their business operations and help them get better insights into their businesses but they don’t know where to start,” Ms Maury said.
“Often, it’s their accountant and bookkeeper who are the people who see businesses like them and can help by being the best person to recommend the apps that are suited to their business.
“Successful practices embrace the change and they look at what they can do within their business in order to add more value to their clients.”