Can Accountants Become the Go-To Advisors For Technology?

I’d estimate that about 50% of the LinkedIn posts that I see on my feed says that the role of the accountant is evolving. I don’t think this view is particularly ground-breaking as almost every job is changing.?

If you listen to some of the “experts” accountants don’t embrace tech. Compared to my old profession, the law, accountants have always been miles ahead in tech adoption. Accounting software has been used pretty widely for over 40 years.?

I do think that a lot of accountants (not all!) could really help their clients by sharing some of their technology expertise. But how exactly can accountants offer practical, value-adding advice on business technology?

Changing Times, Changing Roles

As traditional service models are reimagined for today’s digital landscape, many accountants are finding that they are being asked for advice on technology by their clients . Traditionally, accountants have been relied upon for their financial acumen; today, they are well placed to advise on systems that underpin modern business operations—from cloud accounting software to advanced business intelligence tools.

The key isn’t whether accountants should be involved in recommending technology—it’s how they can do so in a way that’s credible and that they feel comfortable with. With long-standing relationships and an intimate knowledge of a client’s financial workings, accountants have a natural advantage. The challenge lies in bridging the gap between the numbers and the technology that can transform those numbers into actionable insights.

Listening First: Understand Your Client’s Needs

Before jumping in with a recommendation, it’s essential to listen. Accountants must begin with a thorough assessment of each client’s business operations by:

• Identifying Operational Bottlenecks: What processes are slowing the business down? Is manual data entry or a patchwork of disparate systems hindering efficiency?
• Understanding Growth Ambitions: A start-up and an established SME will have very different technology needs. What are your client’s plans for scaling up, and what tools can support that growth?
• Engaging Stakeholders: Hold discussions or workshops with key personnel to uncover both the obvious and the hidden challenges that technology might address.

Keeping Pace with the Digital Age

The pace of technological change shows no sign of slowing down. For accountants to remain relevant, they must stay informed about the latest trends. It’s not enough to know that cloud technology exists; one must understand how it’s revolutionising data accessibility, security, and efficiency.

Accountants can keep abreast of these trends by:

• Subscribing to Leading Industry Publications: Regular reading can help spot the next big thing before it becomes mainstream.
• Attending Webinars and Conferences: These events provide the latest updates as well as valuable networking opportunities with technology vendors and industry experts.
• Building Relationships with Technology Providers: Forging strong links with vendors offers firsthand insights and even preferential access to new tools.

A Structured Approach to Recommendations

Once you understand your client’s needs and are up to date on tech trends, a structured process can ensure your advice is both objective and tailored. Consider this streamlined approach:

1. Diagnose the Core Challenges: Analyze your client’s workflow to pinpoint where inefficiencies lie. Are outdated systems causing delays? Is there a disconnect between departments that could be bridged by an integrated solution?
2. Research and Shortlist Solutions: Investigate vendors and tools that specifically address the identified challenges. Evaluate features such as scalability, user-friendliness, integration capability, and overall cost-effectiveness.
3. Engage in a Dialogue: Arrange demonstrations or trial periods with shortlisted vendors. Encourage feedback from your client’s team to ensure that any new system meets both theoretical and practical needs.
4. Present a Clear, Concise Report: Your recommendation should include an executive summary, detailed analysis of potential solutions, and a clear roadmap for implementation. Being transparent about both benefits and potential challenges builds trust and credibility.

The Importance of Overcoming Resistance

Change can be daunting. Clients may resist new technology because of the fear of disruption or perceived high costs. Here, the accountant’s role as a trusted advisor is crucial. By clearly outlining long-term benefits and setting realistic implementation timelines, accountants can help clients move past hesitation and embrace digital transformation.

In Conclusion

The answer to the question in the article title is “Yes, accountants can become the go to advisor for technology”. If they want to! By stepping up to recommend the right business technology, accountants not only enhance their own value proposition but also drive their clients’ success in an increasingly digital world.?

Those who master this role will become indispensable, steering their clients through the complexities of modern business with both confidence and expertise.

Interested in exploring how technology can transform your business operations? Reach out and let’s discuss the solutions that can drive your success in this digital age.