Disrupting Accountancy

I am sure many of our readers will have heard the term disruption in the context of business.

Disruption or, as the Harvard Business Review refers to it, disruptive innovation, references the ability of a new entrant to a market to steal a march on the incumbents by focusing on what customers want with simple, low-cost alternatives to the bloated services or products that may have developed before.

The theory of disruptive innovation is extensive and can be specific from an academic perspective. I don’t want to get into that here, but what I do want to highlight is the focus on what customers want that comes from disruption.

Accountants are worried. They are worried because technology is moving at such a pace that a lot of what they do is becoming automated. Technology is having a disruptive impact on all sorts of areas in accountancy including bookkeeping, tax calculations, payroll and secretarial services making the provision of accounting services cheaper, easier and more accurate.

Sorry, I’ll correct my mistake. Accountants who cannot keep up are worried. Accountants who embrace technology and understand where they can add real benefits to clients in helping them do the same aren’t worried.

Technology is at the heart of everything our practice does. We embrace cloud technology, allowing our clients to access their accounts (or tax returns, or other records) anytime, anywhere, on any device. We’re completely paper free except where HMRC or Companies House prevents it, and we empower our clients to go the same way.

And we not only understand how technology helps our business, but how it helps our clients’ businesses as well. One area we really enjoy is helping our clients to use technology to increase their efficiencies, lower their costs and improve the experience for their customers. In particular, cloud technology is allowing small and medium sized business to access the type of software that was only accessible to corporate enterprises even just a few short years ago.

It has never been a more exciting time to be involved in building and growing a business. We’d love to be involved – book your complimentary consultation online or give us a call on 0161 464 7162.

Post-Script

If you want to read more on the theory of disruptive innovation, take a look at this Harvard Business Review article (free for limited use): https://hbr.org/2015/12/what-is-disruptive-innovation

I should add however that my dental clients certainly wouldn’t advocate the use of Crest Whitening Strips mentioned in the article’s video!

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