According to the Industry Reports, Professional Services such as Accounting and Financial Consultancy services are considered to be the most impacted by the Digital Revolution.
This is spearheaded by the Cloud applications like Netsuite and Xero. With Tax software also moving into the cloud environment this ecosystem has been undergoing irreversible alteration.
A recent history of the Accounting Industry in Australia.
1978 – Writing up cash books go out of fashion as accountants advise clients to use computers to produce sets of accounts straight from bank statements.
2000 – Introduction of GST. Accounts to be produced quarterly and within 4 weeks. This gives rise to the Bookkeeping industry in a big way as Accountants and businesses cannot cope with the new demands themselves.
2012 – Internet banking feeds into Accounting applications automate a significant part of coding of transactions . Cloud also means distributed workforce and global talent engagement. Roles of Accountant and Bookkeeper are changing.
StylusFMS has the team to engage the new ecosystem and enable accounting firms become more competitive.
With experience in the changing environment as well as leveraging cloud technologies, Tax Agents, SMSF Auditors, Company Auditors and Virtual CFOs/Financial Consultants are discovering the synergistic advantages of engaging talent as a service.
For a more detailed discussion, please contact us