How Accounting Firms Thrive in a Competitive Market

Episode 77. In today's news episode, we discuss "How Accounting Firms Thrive in a Competitive Market.""A new breed of accountancy practices, flourishing in post-pandemic conditions, are making life hard for traditional firms."Key takeaways from this episode include:➤ Shout out to Steve Cox of Iris, who appeared recently on this episode "The Future of the Accounting Profession" https://accountinginfluencers.captivate.fm/episode/the-future-of-the-accounting-profession-with-steve-cox-of-iris-uncut➤ QUOTE: "A new breed of accountancy practices, flourishing in post-pandemic conditions, are making life hard for traditional firms."➤ how the competitive landscape has changed for accountants from existing firms to new entrants into accounting➤ figures on how many new accounting firms have started all over the world, all fighting for the business of those already in the marketplace➤ speculating whether the new breed of accounting firms actually need qualified accountants or just software certified professionals➤ how the great resignation in accounting may instead be a great evolution as many start their own practice on their terms➤ three things accounting firms can do to improve they are feeling the pressure from competition➤ the surprisingly low proportion of accountancy practices who promote a cloud-first offering to their clients➤ the advantage of organic growth through automation vz new client acquisition to take the load off fee-earners working long hours➤ why it makes commercial sense for accounting firms to consider selling their lowest profitability clients➤ what compliance based accounting practices who are struggling with technology, cloud and digital can do to grow ➤ how many accounting managing partners reach 50+ and change their thinking from the firm to their exit Source: https://www.internationalaccountingbulletin.com/sponsored/how-firms-can-thrive-in-todays-competitive-market/━━━━━━━━━▼━━━━━━━━━We'd love to get to know you!Join, follow, subscribe, like, share and engage with the Accounting Influencers Communities on any of these platforms:➺ Main show website. For access to every single show with full shownotes: https://accountinginfluencers.captivate.fm➺ LinkedIn. For announcements of published shows, tagging guest so you can build your network and offer feedback on the show: https://www.linkedin.com/company/accountinginfluencers➺ Youtube. For videos of all podcast interviews and bonus video content: https://www.youtube.com/channel/UC3AwPLSr2rCqTylGj0s7TJQ➺ Twitter: https://twitter.com/accinfluencers➺ Facebook: https://www.facebook.com/accountinginfluencers━━━━━━━━━▲━━━━━━━━━NOTE TO LISTENERS:The Accounting Influencers Podcast is a CPE-accredited daily radio-style show with four segments coming out every Monday which are repeated on the other 4 weekdays as standalone episodes, plus a bonus 'from the client's perspective' episode on Saturdays. On Sundays,...

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