The entire accounting, tax and financial reporting industry is in a period where there are constant waves of change. It is important that any professional you engage is looking forward to these future waves rather than staring at the shoreline waiting to be swamped.
There are opportunities for both clients and accountants with each wave of change. Being able to see what is coming and ride the change rather than fight it is key to maximising the benefit for small and medium sized businesses. It is important to spot if your accountant is moving with the times or is stuck in the sand. Here are a few things to look out for:
OUTDATED SERVICE, OUTDATED RESULTS?
Does your accountant have the ability to be aware and adaptable to emerging trends and innovations that could save you time and money? Or have they simply continued to process you through the same old way every year? Your accountant should be bringing the many important changes effecting you to your attention, if they aren't ask them or have a talk to someone who is more engaged with both their client base and the trends.
DEVELOPING CAPACITY FOR CHANGE
Taking time in the present to allow for productive change in the future is key. A future ready accountant will be more than willing to help you up skill on your existing systems so that any additions in future will be able to be implemeted in an optimal environment. Firms like MBP offer free assistance to their clients on cloud based systems such as Xero so that they are confident in their use of the software and are able to maximise the benefit from the base system and any appropriate add-ons.
When was the last time your accountant or advisor had a discussion with you about the performance and future plans for your business? In this constantly changing environment it is important to have a collaborative approach to solve problems, to innovate, and to future-proof your operations. Regular communication is important and is the base of any good accounting and advisory service.
Are you confident that your advisor understands your core beliefs and values? The key to optimising the level of service is to have a fully engaged relationship between client and accountant, with a solid understanding of the clients core values. Many small business owners have very particular views on how they want their businesses run and how they want to progress in the future. Understanding this is key to offering the right balance of services and recommending the proper changes for your business to embrace to put your plans to best effect.
Keeping an eye on the things above can help you to ride the waves of change and ensure that you are in the best possible position to benefit from continued improvements in tax and accounting.
If you want to work alongside a future ready firm that has your best interests at heart and will work collaboratively alongside you to achieve your goals then give the team at MBP a call toady on (07) 378 66 55. Our staff are always willing to have a free, no obligation chat with you about how we can help you in this constantly changing world and ensure you keep your head above the water.