As the modern world evolves, it’s important your accounting firm stays current. One of the best ways to accomplish this is by embracing new technologies. It is expected that hiring of new accounting graduates from universities could drop by as much as 50% by 2020 thanks to technological advances, such as cloud accounting. These advances have lightened the work load for major firms. With a reduction in hiring, there might not be anyone to take over the reins once senior partners begin to retire, and as much as 50% of accounting firms lack a succession plan. Online accounting software eases so much of the day to day operations for firms, but some accounting firms still have not adopted it. Why not?
Your firm might have various reasons for not embracing this new technology, but it’s still worth taking a look into.