Steve Pipe from AVN makes the following predictions for 2008:
Indian accountants will start to steal the clients of UK practices
Clients will pay less than ever before for accounts
The profession will become increasingly polarised
Steve bases his predictions on better software, an increased emphasis on outsourcing and price pressure.
It’s not often I agree with predictions but Steve’s more scientific approach is mirrored in the anecdotal evidence I have sees accumulating over the last year, in moves by vendors like MYOB which is establishing an outsourcing function and the recognition among clients that value is the key driver for fees. As Steve says:
They also recognise that, from their position as the people paying the bill, annual accounts are as useful as an ashtray on a motorbike.
Colourful but true.
2008 will be a watershed year for professionals at a number of levels. Those most at risk are those who remain blind to the train wreck coming at them and which fail to adapt. Technology will play a key role but not in the way many think.
Of course the drive towards outsourcing will continue but it will be in the use of technology as a relationship builder that we’ll see the greatest interest start to develop. How do I know this? Because I am engaged on large projects designed to do just that. More later.
