mull new software for remote staff, cas and ai.
by 卡塔尔世界杯常规比赛时间 research
a new survey reveals widespread plans for growth, with firms looking for more staff, more services to offer, and more territory to serve over the next 18 months
more: research: accounting pros cautiously optimistic about generative ai | how auditors can beat ai | how tax practitioners became cybersecurity risks | why the u.s. must act now to protect our online privacy | top tax vendors caught red-handed selling private taxpayer data
exclusively for pro members. log in here or 2022世界杯足球排名 today.
in a time when qualified professionals are scarce, a staggering 85 percent of firms say they will definitely or probably be hiring more remote staff with flexible work arrangements, according to the poll of 250 firms by the practice management software company canopy.
there are definite trends underway. here’s what more than three-quarters of cpas are planning for the next 18 months:
- expansion of services
- hiring more remote workers
- more spending on training
- more focus on environmental responsibility
- more spending on cybersecurity
- more investment in automation
- expansion into international services
the plans carry significant implications for the future of the accounting industry.
growing staff and services
expanded remote work structures will facilitate expansion into international markets, which 45 percent definitely plan to do, and another 30 percent probably will, too.
the implications of more remote and flexible work may hint at big changes to the industry.
- employees may reside in distant states, even foreign countries.
- professionals may start drifting out of urban centers.
- face-to-face contact time with clients may diminish.
- flexible hours may mean fewer hours.
- fewer hours and ex-urban home offices may allow lower salaries.
cas
almost as many firms – 83 percent – believe they will be able to expand their client accounting services beyond traditional accounting and bookkeeping services. a solid 47 percent say they will definitely do so.
again, the implications are significant.
- the broader field of remote workers will enable new services.
- the new variety of services may attract non-accounting professionals.
- more services will require more training and development, planned by 80 percent.
- new service offerings will require more marketing. half of the respondents will “definitely” increase investment in marketing and branding.
ai
the survey also revealed that accounting firms are going to be on the leading edge of new technologies.
- 46 percent will definitely increase their use of artificial intelligence and data analytics, and another 32 percent will probably do so.
- 80 percent will definitely or probably increase investment in automation and machine learning.
- 80 percent will increase investment in cybersecurity and data privacy measures.
the implications:
- many firms will need to hire pros with advanced technical skills.
- rapidly evolving ai tech will require constant training and tech updates.
- ai and analytics capabilities may become significant new service offerings.
- new capabilities and services will necessitate new branding.
work/life balance
although all the above imply very busy accounting practices, especially among management planners, the survey reached three surprising statistics.
- 90 percent say they are definitely (61 percent) or probably (29 percent) satisfied with their work/life balance, and only 4 percent are probably or definitely not satisfied.
- 52 percent are working no more than 40 hours a week, and 19 percent are keeping work hours below 30 hours.
- the average accounting firm employee sticks with a job for six years or more, well above the national average of 4.1 years.
and one more surprise: 28 percent admit they have trouble calculating the tip at a restaurant.
go figure!