In this episode, Ben Richmond, the U.S. Country Manager for Xero talks about the benefits of shifting your accounting firm to the cloud. He also delves into the difference between working on your business instead of for it, the positives of outsourcing, and how accountants are crucial to the future of business.
Three Main Ideas:
- Advantages of Cloud Technology in Accounting: Ben Richmond highlights benefits like enhanced security, flexibility to work from anywhere, and operational efficiency compared to traditional practices with physical servers. Despite low U.S. adoption rates, there are growth opportunities.
- Accountants' Role in Business Success and Technology Impact: Richmond discusses accountants as crucial advisors to small businesses, focusing on technology like Xero for better survival rates. Xero's innovation includes AI for code-free accounting, aiming to shift focus to strategic advisory services.
- Future of Accounting Firms and Profession: The discussion covers the shift to advisory services, global business impact, talent acquisition, and technology's role in staying competitive. Embracing tech ensures relevance and growth, fostering innovation and a client-centered approach.
Listen on your favorite podcast platform:
.png?width=121&height=121&name=Apple%20(1).png)
.png?width=123&height=123&name=Amazon%20(1).png)
Get Our Latest Updates and News by Subscribing.
Join our email list for offers, and industry leading articles and content.