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Top 5 trends in Accounting today from small business accountant Sydney

Top 5 trends in Accounting today

Two pertinent topics you should think of consulting with your accountant today are what trends over the next year will have the biggest impact on them and as a result on your business, and how well prepared are your accountants to turn these trends into an advantage. With that in mind, here are the biggest five trends in business accounting in Sydney which you should look for in your small business accountants in Sydney.

  • A primarily client focused service: Utilising technology to provide enhanced customer service, while also freeing up time, should allow your accounting firm to provide a more personalised service which leads to a richer discussion of strategy and your business goals. Client engagement is no longer a one on one or face to face connection necessarily, rather it is an ongoing loop of opportunities. An accounting firm should have a constant presence as required by its clients.
  • Integration of Technology: Your accounting firm should have a sound yet strategic investment in technology today, so new and upcoming technological processes can be integrated smoothly into business processes. The more prepared your accountant is to deal with technological advances, the more time is saved when it comes to lodgement of returns, assisting with queries etc.
  • Utilising Digital Platforms: Leveraging mobile devices and digital platforms and utilising cloud storage is a no brainer in today’s age. This helps clients access their accountants readily and enable instant solutions to queries that would otherwise take longer to resolve.
  • Succession Planning: Ask your accountants if they have a continuous pool of talented staff, who can be interchanged without a significant impact on service. Management of staff is an integral part of any business and should not be any less with your business accountants in Sydney too. Great staff determine how prepared your firm is to deal with challenges on a day to day basis and how they will help to achieve your business goals.
  • Social media: It is worth looking at the social media presence of your accountants, how sophisticated they are in the use of Twitter /Facebook and what other clients think of their services. Social media should primarily be used by your accountants to increase client satisfaction, as a way of ‘listening’ to what they say and to deepen your relationship. 

In addition to consulting these trends with your small business accountant in Sydney, you can also look into applying these to your small business to achieve maximum efficiencies.