Is Advisory really the future of accounting?

This article is an overview of my presentation at last week’s inaugural Accounting Business Expo: “Why Advisory won’t save you from technology”.

A Consensus View

Everywhere you look, it seems the world is telling accountants that compliance work is a non-growth future (at worst a dramatically diminishing business, brought to an end by government policy and technology). The answer, according to pretty much everyone, is operational advisory – helping clients with running better businesses. An entire industry has popped up to coach and help accountants “transition from compliance to advisory”. Technology has popped up everywhere, to systemise advisory, with report packs and standardised approaches for how you monetise the “enormous, under-serviced, advisory opportunity”.

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Renovate Don’t Stagnate

My former boss and the major shareholder at Attaché Software, Mike Rich, often spoke about the concept of businesses reaching a point in their life-cycle (perhaps ironically) where they “run out of gas”. He contends that they have 2 options: renovate or stagnate.

Too many Australian businesses have stagnated. It is not good for the stakeholders of those businesses. It is not good for the economy. This is why I have set-up Value Adders – to make a difference. To help businesses to use technology and best practice business process, to grow and fulfill their potential.

Below I have compiled a list of the top 20 tips I have to renovate businesses. I don’t profess these to be original, but I recall a university professor explaining to me during a first year lecture:
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Holistic Chunkification

I presented at the 2014 Leading Age Services Australia (LASA) national conference on the importance of IT integration to drive efficiencies in the aged care sector.

The presentation covered:

  • The change drivers that are restructuring the aged care sector
  • The importance of well-implemented IT systems in improving efficiencies and remaining competitive
  • Current IT trends affecting aged care
  • Why a holistic view of IT is essential for EVERY provider
  • 10 tips for an effective IT strategy

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