What is the biggest change in the industry over the last 5 years-how it affects you!!!
Within the accounting, space technology has allowed accountants to progress from transactional to true Business Advisory. This is very different to compliance work in terms of skill set, technical competency, expertise and experience in meeting client's needs.
Many accountants have been chasing around looking for the new shiny toy that is going to resolve their declining fee base. I emphasise that it's not about the new toy or put another way a new tool but the person holding the tool. We wouldn't expect a professional sportsperson to change complete sporting disciplines and straight away be highly competitive. It is going to take time, focus massive amounts of training and mentoring.
We are in the same situation, there is no new app or system that will change our previous discipline regardless of what the vendors are selling. It simply does not make sense.