Where do you think accountancy businesses are headed?
Some of the key issues are:
· Deloitte produced a report, ‘Digital disruption – short-fuse, big bang?’, which identified that professional services, of which accountants are part, are going to encounter ‘significant digital disruption’ over a three-year period, amounting to a 32% drop in business activity.
Deloitte suggested that, to minimise threats posed by ‘digital disruption’ and to maximise an organisation’s ‘digital’ potential, it’s about ensuring businesses are ‘digital survivors’. Deloitte’s suggestions included:
- Recalibrating cost structures.
- Replenishing revenue streams.
- Reshaping corporate strategies.
· Take up of ‘cloud’ technology by SMEs – whilst less than half of Australia’s SME operators have an online presence, there’s a strong expectation that the take-up of ‘cloud’ technology will continue.
· Greater numbers of taxpayers utilising the ATO’s online lodgement syste