Accounting Influencers Roundtable


How Top Accounting Firms Are Moving to Cloud Accounting

Matt Flanagan is a cloud business systems specialist, working in close partnership with forward thinking accountants to support their transition to cloud accounting & developing relevant advisory services.

Matt’s background was 15 years in enterprise IT delivery on HMRC & NHS platforms, leaving the corporate world in 2012 and has been working in the cloud accounting sphere since 2014.

Matt has been monitoring and commentating on the 1st phase of Making Tax Digital (MTD) and accounting firm’s digital transition for the last 18 months. Cloud adoption and client selection are key areas that Matt works with firms to improve engagement and client retention, ensuring firms are thinking about being Advisory ready as well as MTD ready. Shownotes:

  • Why the smaller, more agile firms are adopting cloud faster than the larger ones
  • How FOMO (fear of missing out) is driving digital change as much as MTD
  • Larger accounting firms are poor at setting themselves up internally to be more digital
  • Putting one person in charge of digital and cloud adoption (cloud champion) doesn’t work – it needs a firm wide culture change
  • Some accounting firms are still burying their heads in the sand and thinking digital is not going to happen
  • Change management is at the heart of adopting cloud technologies
  • The two biggest concerns for accounting firms moving to cloud – where to start and information overwhelm
  • The British factor can hold us back in adopting change – we’re sometimes not as quick to change as say accountants in Australia and New Zealand
  • The best accounting firms truly understand which clients they serve and how they serve them well
  • The way many accountants sell is weak – software demos are no replacement for finding out what a client really need and where they want to be
  • Communication is the main tool for the world class operator in any customer facing sector
  • The new tech coming down the road requires major adapting skills from accounting professionals
  • How accounting firms should hire tech people to drive growth
  • Talk is cheap – the best accounting firms and accountants take action on their knowledge
  • Poor advice given to accountants – don’t be the guinea pig and wait to see what others do with the tech
  • For accounting firms, the decision to invest in software starts with asking what you want the tech to do for you and your clients
  • In the next 3-5 years, the cloud accounting tech is going to be taken for granted
  • The future for accounting firms is how they use the tech to interpret the data and use that to help clients make better decisions
  • Many accounting firms neglect the basics when it comes to software and cloud accounting
  • The 5 steps accounting firms need to go through in transitioning to digital

To contact Matt: 07738 984 242 (United Kingdom)  Liked your Top 100 Club Podcast Interview with Rob Brown” target=”_blank”>email him directly>>

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Twitter: MattFlanBH

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