How Top Accounting Firms Are Moving to Cloud Accounting - Success in Accounting

Episode 22

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Published on:

31st Oct 2018

How Top Accounting Firms Are Moving to Cloud Accounting

Matt Flanagan is a cloud business systems specialist, working in close partnership with forward thinking accountants to support their transition to cloud accounting & developing relevant advisory services.

Matt’s background was 15 years in enterprise IT delivery on HMRC & NHS platforms, leaving the corporate world in 2012 and has been working in the cloud accounting sphere since 2014.

Matt has been monitoring and commentating on the 1st phase of Making Tax Digital (MTD) and accounting firm’s digital transition for the last 18 months. Cloud adoption and client selection are key areas that Matt works with firms to improve engagement and client retention, ensuring firms are thinking about being Advisory ready as well as MTD ready. Shownotes:

  • Why the smaller, more agile firms are adopting cloud faster than the larger ones
  • How FOMO (fear of missing out) is driving digital change as much as MTD
  • Larger accounting firms are poor at setting themselves up internally to be more digital
  • Putting one person in charge of digital and cloud adoption (cloud champion) doesn’t work – it needs a firm wide culture change
  • Some accounting firms are still burying their heads in the sand and thinking digital is not going to happen
  • Change management is at the heart of adopting cloud technologies
  • The two biggest concerns for accounting firms moving to cloud – where to start and information overwhelm
  • The British factor can hold us back in adopting change – we’re sometimes not as quick to change as say accountants in Australia and New Zealand
  • The best accounting firms truly understand which clients they serve and how they serve them well
  • The way many accountants sell is weak – software demos are no replacement for finding out what a client really need and where they want to be
  • Communication is the main tool for the world class operator in any customer facing sector
  • The new tech coming down the road requires major adapting skills from accounting professionals
  • How accounting firms should hire tech people to drive growth
  • Talk is cheap – the best accounting firms and accountants take action on their knowledge
  • Poor advice given to accountants – don’t be the guinea pig and wait to see what others do with the tech
  • For accounting firms, the decision to invest in software starts with asking what you want the tech to do for you and your clients
  • In the next 3-5 years, the cloud accounting tech is going to be taken for granted
  • The future for accounting firms is how they use the tech to interpret the data and use that to help clients make better decisions
  • Many accounting firms neglect the basics when it comes to software and cloud accounting
  • The 5 steps accounting firms need to go through in transitioning to digital

To contact Matt: 07738 984 242 (United Kingdom)  Liked your Top 100 Club Podcast Interview with Rob Brown" target="_blank">email him directly>>

BlueHub or https://www.linkedin.com/in/mattflanagan3/

Twitter: MattFlanBH

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About the Podcast

Success in Accounting
Insights, interviews and commentary for accounting, CPA, bookkeeping and finance professionals
SUCCESS IN ACCOUNTING is a weekly podcast for accountants, CPAs, bookkeeping and finance professionals, together with the networks, associations, fintech vendors and influencers who lead them, work in them and serve them.

The show is hosted by Rob Brown and Martin Bissett who are founders of the Accounting Influencers Roundtable (AIR) and have many years of experience serving the accountancy profession. The style of the show is not overly technical/technological/tax in nature but more on people, performance and success in the accounting world. Popular topics and themes covered include:

☑ leadership, executive presence, trust, integrity & reputation
☑ M&A, business models, future proofing, drivers of change & disruption
☑ performance, values, culture, vision & strategy
☑ employer brand, gen z/millennials & talent - succession, recruitment and retention
☑ industry trends, statistics and patterns
☑ growth, marketing, differentiation & positioning
☑ pricing & profitability
☑ digitisation, cloud, technology & automation
☑ advisory services, niches & emerging markets
☑ environmental & social governance ESG
☑ diversity, equity & inclusion DEI
☑ professionalism, career development & CPE/CPD
☑ business acumen & commercial awareness

Sources and guests come from:
★ EXPERTS - influencers, disrupters, consultants, gurus, podcasters and broadcasters in accounting and fintech
★ EVENTS - live coverage and interviews from exhibitions, conferences and a range of industry events
★ MEDIA - newspapers, online outlets, commentators, writers, bloggers and authors
★ VENDORS - suppliers and providers of accounting apps, platforms, fintech and software
★ REGULATORS - professional accounting bodies, institutes and associations
★ NETWORKS - alliances, associations, networks and communities of professional firms and accounting practices
★ SOCIAL MEDIA - opinion pieces, high engagement posts and controversial conversations

Hosts Martin Bissett and Rob Brown are founders of the Accounting Influencers Broadcast Network. 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 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.

Rob Brown is a renowned presenter, facilitator and chair of high level conferences, panels and events globally for the accounting and fintech profession. He is retained by many professional networks, alliances, associations, practices and vendors to chair their events and provide high-level interview content for their communities.

He is a dynamic speaker and accomplished expert on trust, reputation, employer brand, talent, career development, succession, gen z/generations, executive presence, referrals, networking and winning new business. He is also the bestselling author of Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 320K times on YouTube.
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About your hosts

Martin Bissett

Profile picture for Martin Bissett
Martin Bissett 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, he 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 both accounting practitioners and FinTech companies alike, at board level.

Rob Brown

Profile picture for 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.