Episode 18

When Accounting Firms Put Tech Before Their Clients

It's the "Insights in Accounting" show, every Tuesday to 150 countries and 30,000 accounting practitioners, fintech specialists and influencers in the accountancy, CPA and bookkeeping space.

In today's episode 18, "When Accounting Firms Put Tech Before Their Clients" with special guest Will Farnell, founder of innovative UK accountancy firm Farnell Clark and author of The Digital Firm. https://www.linkedin.com/in/willfarnell

You can also watch this on youtube here: https://youtu.be/LROntp0DUCA

Key takeaways from this episode include:

❊ why accountancy firms are making a mistake putting their own technology needs before their clients' needs

❊ what makes one platform more efficient than multiple platforms for accounting practices

❊ what should be the fundamental concern when accountants make strategic technology investments

❊ how the client experience suffers when accounting and CPA firms act to selfishly with the software they adopt

❊ the merits of daily bookkeeping to provide live accounting data to enhance the client experience for accountancy firms

❊ the one question that is not asked enough in accounting practices when technology purchases are considered

❊ how digital disruption is simply removing friction from the client journey in the accounting and fintech world

❊ why gross recurring fees can be both a good and a bad thing for accountants and CPAs

❊ the practice mindset versus a business mindset in accounting firms and how the clients can suffer

❊ what a digital or even human accounting firm does that others do not

❊ shout out to Randy Johnston who speaks about the vendor agenda and the compromise that accountants make at the expense of clients

❊ how technology is now the same for all accountants, and where the latest differentiators are coming from

❊ via Donny Shimamoto - how technology can affect the brand image of an accounting firm

Source: https://www.accountingtoday.com/news/the-frontier-accounting-firms-need-to-stop-putting-their-tech-needs-first-as-they-adopt-technology

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Mentioned in this episode:

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About the Podcast

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Insights in Accounting
Critical insights, commentary and analysis of key issues, trends, news and events in the accounting and fintech world

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About your hosts

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Rob Brown

Rob Brown is a renowned MC, facilitator and chair of virtual and in-person panels, conferences and events globally for the accounting and fintech profession.

Rob is co-founder of the Accounting Influencers Roundtable (AIR) mastermind group and co-hosts the world’s most popular accounting and fintech podcast: Accounting Influencers.

Throughout the pandemic, he chaired 24 virtual panels with leaders of global accounting networks and alliances to discuss the key issues and challenges. Rob is retained by several associations and vendors to chair their events and provide high-level interview content for their communities.

He is the bestselling author of Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 300K times on YouTube.
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Martin Bissett

Martin is the founder of the Bissett Group of companies that provide practice and personal growth communities, content, and continuing education exclusively to the accounting and bookkeeping professions worldwide. Previously he established a high six-figure consulting firm while serving as a keynote speaker with over 100 one-off and repeat engagements to his name, as well as becoming the most published author on his topics of specialism with 11 books including 1 bestseller.

Since 1998, Martin Bissett has played a major part in working with over 1800 accounting firms in over 40 countries. These projects have led to those firms acquiring over £500m of recurring fees before inflationary increases, referrals and upselling are factored in. He stopped keeping track of this number over 5 years ago. Martin now advises a range of accounting practitioners and fintech companies at board level.