How are you feeling

I wonder if there are any other trades or professions that are as ‘glass half full or half empty’ as accountancy?

I spend much of my time digesting the thoughts of people in and around the world of accountants and bookkeepers. I come across lots about what we are apparently getting wrong, less so about what we get right, and I see the decline of the profession forecast more often than the hopes of a rosy future.

It feels different when I’m out in the field.

Back in 2022, accounting firms, like their clients, were finding their feet again after the chaos of the pandemic and lockdowns. Most had done an exceptional job in supporting their clients through the trials and tribulations of 2020/2021 and 2022 seemed like the year to draw breath and assess the health of our own firms. This in itself was a challenge. The pandemic may have been behind us but a growing tidal wave of digital disruption and transformation was sweeping through. The pressure of change added to the weight of the rebuild.

2022 was a year when many individuals and firms took stock:

·????? What do I want out of life from now on?

·????? What sort of firm do we want to be going forwards?

Enter 2023 and what I experienced was lots of firms focusing inwards, getting themselves prepared for their new personal and business goals.

We did lots of work on systems, processes and structures, responding to digital transformation and the changing visions and needs of firms, their people and their clients.

We did lots of work with directors on their revised leadership aims, leading onto more work with managers and teams to aid retention, development and growth. ‘Stepping up’ was very much the buzzword of 2023.

If 2022 was a year of consolidation and re-appraisal then 2023 was the year of internal focus, of getting fit and ready for the future.

The progress kickstarted in 2022 and 2023 continues ?and now we find ourselves well into 2024 and the reason for my question about how you are feeling.

I’m excited!

I see so much opportunity for accountants and bookkeepers to throw off the perception of our profession that we’ve allowed to hold us back for so long, and the key word for me here is ‘perception’.

Without doubt, technology, especially through digitalisation, AI and automation, is replacing many of the mundane, repetitive and time consuming tasks that have occupied us, and been barriers to growth, for so long. The pace of change has undoubtedly increased but the principle of human tasks being replaced by technology has been happening since computers became mainstream in the profession during the late 80s and 90s. The issue has not been the advancement of technology but our failure to make the most of the wins in time saving, cost reduction and service expansion that it has brought.

We had no time for a reset in the decades leading up to 2020. The pandemic has brought that reset. Firm leaders are now looking forwards at the challenges and opportunities, rather than reacting to a legacy of pressures and problems.

If you’re a glass half empty sort of person then technology is a threat to undermine a future previously perceived as secure. If you believe in the perception that accountants add little value and don’t have anything interesting to say then there is little to fight for.

However, if you’re a glass half full sort of person then technology is the missing link in our professional progression, freeing up our leaders, teams and firms to grow, build better client relationships and deliver a faster, better, more valuable service. If you detest the perception commonly held of our profession then now is a fantastic opportunity to blow it away, once and for all.

They say that beauty is in the eye of the beholder. We have a real opportunity through 2024 and 2025 to up our game and turn plenty of heads!

I’m excited, how are you feeling?

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