SouthJersey.CPA

This is a year of rapid change in small business accounting, from the dwindling number of highly qualified providers, to AI integration, and increased economic challenges. These are the three most significant that we see as we make work plans for the months ahead:Q
1. Client expectations have changed. We are no longer expected to just meet compliance requirements. Clients want referrals to new business, employee candidates, introduce suppliers, investment ideas, financing, tax savings and increased profits. Clients want us to integrate coaching and advisory service to collaborate with their business for the long term. They are looking for us make plans, bring new ideas, and help accomplish their goals.
2. Rapid advances in technology: Automation driven by AI has redefined our work flows. Our role is to understand, design, manage and teach these technologies in a wider range of applications than before. The goal and sometimes significant challenge in our firm is to keep technology in the background and keep human interaction front and center.
3. Profit margins are squeezed: Without a long term effective coaching and advisory relationship with an accountant, more clients have trouble taking the first steps that will lead to stronger profit margins. The gap between the ‘haves’ who can afford to invest in improving their profits and ‘have nots’ who are struggling to maintain the status quo is wider than ever.