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Accountancy Extinction – Are Accountants Surplus to Requirements?

Episode 32. In today’s news episode, the Accounting Influencers Podcast examines the move by some fintech vendors to bypass accountants to deal directly with their clients and control their data.

Key shownotes include:

◆ The thinking behind some software vendors selling their wares directly to the business owners and cutting out the accountant

◆ How the message to business owners has moved from implicit to more explicit ‘get rid of your accountant’

◆ The wrongs done to clients by their accountants that some fintech companies are trying to take advantage of

◆ Why more powerful and highly resourced software vendors have the means to change the marketing narrative about accounting firms

◆ How more direct and persistent ‘you don’t need an accountant’ messages gradually convince accounting clients of a potentially new truth

◆ The folly for business owners of being duped by software sellers into thinking they do not need a professional accountant

◆ Why price sensitivity in compliance will always hurt accountants, meaning they need to step up with advisory services

◆ What accountants and accountancy firms must start doing in conversations with their business clients to remain relevant and needed

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