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Why Software & Tech Adoption is Slow in Accounting

It’s the “UK Matters in Accounting” show, every Thursday to 150 countries and 30,000 accounting practitioners, fintech specialists and influencers in the accountancy, CPA and bookkeeping space.

In today’s episode 17, “Why Software & Tech Adoption is Slow in Accounting” with special guest Will Farnell, founder of innovative UK accountancy firm Farnell Clark and author of The Digital Firm. https://www.linkedin.com/in/willfarnell

You can also watch this on youtube here: https://youtu.be/uwCrXMi2KxU

Key takeaways from this episode include:

☞ reference to a Xero slide via Ian Phillips about how early adopters often capture a market

☞ the reasons why the accounting profession and cloud technology adoption hasn’t moved on as much as experts predicted

☞ the magic number of 75% when defining cloud adoption in accountancy practices

☞ why only 5% of the UK accounting market can be defined as cloud accounting firms

☞ how innovative cloud accounting firms and strong tech adopting practices are taking clients from bigger firms

☞ the power of cloud and tech adoption differentiates accounting firms when the playing field is otherwise level

☞ the opportunity that MTD could offer accountants if it goes ahead and drives tech and cloud adoption with digital accounting

☞ how MTD could have been a catalyst for better tech adoption in accounting firms, though it’s sad that the profession even needed a push to modernise

☞ the switch from regulation and government driving digital accounting to clients and millennial business owners

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5 great shows in the Accounting Influencers Podcast Network:

Success in Accounting – MONDAYS. Our flagship main show features panels, live interviews and replays of our most popular shows.

Insights in Accounting – TUESDAYS. The best news, analysis, commercial awareness, news under microscope, podcast mentions and recommendations.

Influencers in Accounting – WEDNESDAYS. Deep dive 1-1 interviews with leaders, experts, influencers from around the world.

Best Practice in Accounting – THURSDAYS. Practice development, growth, management, consulting, examples, stories and practical here’s what works stuff for accountants, bookkeepers and the fintech/software people who serve them.

UK Matters in Accounting – FRIDAYS. A UK focused show featuring UK related topics, news items, events and interviews.

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