The accounting profession faces a host of challenges in the coming year, and the pace at which those challenges keep mounting up is only increasing – but many of those challenges are paired with extraordinary opportunities for growth, provided accounting firms are ready to embrace them. Balancing threats and opportunities may be the greatest challenge accounting firms face, particularly as they struggle with tremendous client demand, staffing shortages, and workload compression.
Marketers are examining the accounting landscape to see how firms can explore solutions to thrive going forward. Daniel Hood, the Editor-in-Chief of Accounting Today sees these issues as what are keeping accountants up at night:
- The increasingly savage war for talent – and the opportunity to vastly expand the profession's candidate pool through remote hiring.
- Growing commoditization of compliance work – and the skyrocketing demand for advisory services.
- The destabilizing impact of technology – and the valuable new practice offerings it enables.
- The growing complexity of the regulatory and reporting environment – and the tremendous new service opportunities in areas like mandated ESG disclosures
- Vast increase in accountants' workload – and the leverage it gives firms to choose how they work with and how.
- Difficulties firms face in bringing up their next generation of owners – and the multiplying succession-planning solutions presented by M&A and private equity.
Hear more from Dan Hood about these issues in a recent webinar focused on how marketers can help address these solutions for the accounting community.
