Technology Has Redefined the Accounting Firm

Technology has led to the evolution of many industries. However, the accounting industry has always been slow to adopt change.

I’m sure when most think of an accountant, there is still a stereotypical image of an elderly individual with a calculator on their desk and papers shuffled up in piles throughout the office.

This stereotype is probably derived from the fact that accounting practices have been run in a similar fashion for the last twenty years with only minor innovations in the operations of the day to day practice.

There is now a new breed of accounting firms that leverage technology to make the lives of their clients simpler. I believe that the evolution of the modern day firm extends beyond the improvements in technology. There has been a dramatic shift in the relationships between clients and business owners.

In the past, accountants served merely as compliance officers to ensure tax filings were processed in a timely manner, however the new breed of accountant offers value added services to simplify the lives of business owners. As technology has been at the forefront of this evolution, here are some of the major changes that have taken place.

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