{"id":91602,"date":"2021-12-05t13:30:43","date_gmt":"2021-12-05t18:30:43","guid":{"rendered":"\/\/www.g005e.com\/?p=91602"},"modified":"2023-10-05t09:12:36","modified_gmt":"2023-10-05t13:12:36","slug":"20-predictions-for-2022","status":"publish","type":"post","link":"\/\/www.g005e.com\/2021\/12\/05\/20-predictions-for-2022\/","title":{"rendered":"top 20 trends for the year ahead"},"content":{"rendered":"

\"\"you need to know your options.<\/strong><\/p>\n

by joe tarasco
\naccountants advisory group, llc<\/a>
\n<\/em><\/p>\n

during these unprecedented times, it is difficult to predict the future.<\/p>\n

thus, the leaders of today\u2019s cpa firms should focus on planning for various options based upon as many possible scenarios as possible.<\/p>\n

this type of planning explores plausible potential business models and implementation processes for impending unknowns.<\/p>\n

as you develop your strategic plans for 2022 and beyond, consider the following predictions and trends.<\/p>\n

1 \u2013 aligning the firm\u2019s goals and vision with partner performance criteria and accountability continue to be a key objective for progressive firms.<\/p>\n

2 \u2013 unrelenting increased competition for professional staff, rising staff labor costs, increased regulations, and client demands will force firms to carefully examine their mix of services, industry concentrations, and niches. client engagement profitability will be more scrutinized and evaluated, and partners will be held more accountable for increased realizations.<\/p>\n

3 \u2013 the future will bring tremendous opportunities for accounting firms that are highly leveraged, with well-trained professional staff, using state-of-the-art technology, and use outsourcing methods and processes, and increased efficiency methods. firms will continue to offer remote work options way beyond 2022 to compete for talented professionals.<\/p>\n

4 \u2013 to take full advantage of the favorable marketplace for accounting firm services, partners need to be highly effective client relationship managers, trusted advisors, and rainmakers \u2014 not grinders. firms of all sizes will increase their menu of consulting and advising services to remain competitive. firms will continue to acquire consulting and advisory companies that complement their traditional services.<\/p>\n

5 \u2013 as succession planning continues to be challenging, career development and leadership training will be further expanded into firm cpe curriculums. progressive firms will significantly increase their training budgets. to remain competitive and avoid merging into a larger firm, partners will have no choice but to invest heavily in their \u201cbest and brightest\u201d staff in all stages of their careers.<\/p>\n

6 \u2013 across the country, consolidation of firms will continue at a faster pace, especially with two to 15 partner firms. 2022 will most likely break records for cpa firm m&a transactions.<\/p>\n

7 \u2013 there will be more mergers of public accounting associations and networks.<\/p>\n

8 \u2013 more small firms will split up due to a lack of partner consensus on succession planning, whether to merge into a larger firm, and the strategic direction of the firm.<\/p>\n

9 \u2013 firms will increase their efforts to recruit talented partners from other firms. ideal targets will have leadership and practice development skills and partners who are specialists\/experts in industries and niches.
\nas the war for talent is in a \u201ccrisis mode,\u201d firms will invest more resources into outsourcing work offshore and acquiring firms or growing their existing firms in india and the philippines.<\/p>\n

10 \u2013 the firms that have grown through the consolidation of aging partners and practices will begin to address intensified succession planning issues. firms with succession challenges that wait too long to merge up or be acquired will experience significant decreases in practice valuations.<\/p>\n

12 \u2013 more firms will merge as a competitive strategy to gain more resources, greater service capabilities, and industry expertise, and advisory services rather than for near-term succession problems. there will be more mergers of mega-firms into larger regional and national firms.<\/p>\n

13 \u2013 managing partners and executive committee members will be held more accountable by their partners for strategic actions and profitability. attention will focus on their ability to lead and manage successfully and achieve the goals and objectives, as documented in the firm\u2019s strategic plans.<\/p>\n

14 \u2013 technologies such as artificial intelligence (ai) and robotic processes automation (rpa) will continue to advance at an increasing pace.<\/p>\n

15 \u2013 rapidly changing technology will play an even more significant role in marketing professionals\u2019 programs and plans. as a result, marketers will be better equipped to generate roi-driven reports, perform precise market research, collaborate with bd professionals on crms (customer relationship management), target prospective clients, implement digital marketing and social media campaigns, and use videos and creative designs to illustrate client success stories\/case studies and testimonials.<\/p>\n

16 \u2013 diversity, equity, and inclusion (dei) initiatives will continue to be a competitive differentiation, especially in attracting the best-talented professionals.<\/p>\n

17 \u2013 there will be an increased number of firms hiring lead generator\/business development professionals to compete with larger firms and supplement the practice development efforts of their partners.<\/p>\n

18 \u2013 the need for diversified multi-faceted marketing professionals will become even more necessary to maintain a competitive edge in the local marketplace. as a result, more firms below the top 200 will outsource their marketing and practice development programs to consulting companies.<\/p>\n

19 \u2013 as the lack of qualified professionals continues to be an obstacle to growth, the role of internal marketing professionals will continue to expand and increase in the areas of recruiting and hiring practices to attract quality staff, partners, and m&a candidates.<\/p>\n

20 \u2013 the partnership structure will continue to fade away and will be replaced by a more corporate type of structure. more firms will hire professional coos to assist the partners in managing their organizations.<\/p>\n

the future is bright for accounting firms that can quickly implement initiatives and strategies to adapt to the changing marketplace and the needs of quality clients.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

\"\/\/www.g005e.com\/2021\/12\/05\/20-predictions-for-2022\/\"<\/a>
\nyou need to know your options.<\/strong>
\nby joe tarasco
\naccountants advisory group, llc<\/a>
\n<\/em><\/p>\n","protected":false},"author":3605,"featured_media":78459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2741,5,3120,3002],"tags":[3445,3447],"class_list":["post-91602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-checklist","category-outlook","category-pro-member-exclusive","category-special","tag-ai","tag-artificial-intelligence"],"acf":[],"yoast_head":"\ntop 20 trends for the year ahead - 卡塔尔世界杯常规比赛时间<\/title>\n<meta name=\"description\" content=\"actionable intelligence for tax, accounting, and financial professionals\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"\/\/www.g005e.com\/2021\/12\/05\/20-predictions-for-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_us\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"top 20 trends for the year ahead - 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