The Practice of Now 2018

Published · 2 min read

Accounting is a challenging and changing profession. The independent research presented in The Practice of Now 2018 report explores accountants’ attitudes and looks at how their clients are changing.

For example, the report reveals how nearly all accountants say their clients want more from them and are turning to them for business advice.

This means accountants are considering the benefits that artificial intelligence (AI) can bring, and two thirds of accountants are turning to AI for automation.

By reducing the number of repetitive tasks that accountants need to deal with, there’s the opportunity to use that time on better interactions with clients, grow the practice and improved service offerings.

Commissioned by Sage, Viga carried out independent research surveying 3,000 accountants from across the globe (US, UK, Canada, Brazil, Spain, France, Australia, Ireland) to understand what the landscape for accountants looks like today and will look like tomorrow, offering practical advice on how today’s accountants can continue to thrive and become the Practice of Now.

Our report offers data-driven insight and advice into:

  • The changing landscape for accountants in 2018 and beyond
  • How client expectations are driving changes within the industry
  • The next wave of technology that means AI will transform the industry

Excerpt from The Practice of Now

For more insights into what you can learn from The Practice of Now, here’s an excerpt from the report.

Introduction

Accounting is a challenging and changing profession. Its continual modernisation over recent decades has directly tracked the growth of technology. Our  independent research explores accountants’ attitudes towards this and examines how their clients are changing.

Within this report we will learn that nearly all accountants say their clients demand more, and also expect their accountant to provide business advice. This shifting tide is forcing accountants to explore ways to become ever more productive, freeing them up to spend time becoming their clients’ trusted adviser.

The research shows how to accommodate this change, accountants are considering the benefits that artificial intelligence (AI) can bring to a modern practice,
with two thirds of accountants turning to AI for automation.

Fewer repetitive tasks and fewer mistakes makes for better interactions with clients and improved service offerings.

Technology brings clear benefits for accountants but they need to learn new skills, anticipate the future and reorient their thinking to put their firm ahead – all while anticipating and adapting to the increasing needs of clients and offering competitive service. Accountants need to create the Practice of Now.

Launched in 2017, the Practice of Now report set an incredible precedent by consulting accountants across the globe to tap into their current thoughts and concerns – and to find out how they anticipate their practice looking tomorrow.

Expert insight then examined the scope and impact of changes being brought to practices all around the world.

This all-new 2018 edition builds on this with fresh independent research that’s more extensive and far-reaching than ever. It uses expert input to bring the story bang up to date. We invite you to read through the report, comparing and contrasting your own views to those the research has found.

Sage believes accountants and their clients cannot, and should not, be left behind as technology advances. Accountants have a duty to themselves and their clients to harness change, evolve their practice and bring about exciting new possibilities.

The Practice of Now

We surveyed 3,000 accountants worldwide to reveal how the accounting landscape is changing. Discover how your fellow accountants are approaching the cloud, automation and bots and what you can do now to keep your practice successful.

Download the report

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