Will you still need me, will you still feed me? Are you futureproof?
Updated: Jan 29, 2020
Starting the theme of blogs with song lyrics, this one sprung to mind immediately when I was considering the first article to launch this new programme, as I wanted to pose this question...do clients still need us, and will they still need us? 2019 was a tipping point in the profession in my view. I have known for years that the rate of change around us was bound to impact on the accountancy world at some point, and I think that time has finally arrived. And with it, there are accountancy directors and partners around the country who are a little shell-shocked, almost struggling to keep up with the pace of it all.
How long has your firm been in existence? For many medium-sized firms I work with, it could be 60, 80, even over 100 years. And I love working with those firms as they have such history and a standing in their local community. Something, quite rightly, to be proud of.
And as leadership teams in those businesses, do you feel you have quite a responsibility to ensure the future growth and mere existence of that firm? I expect most partners and directors do feel that obligation. But I really feel that the challenges facing our profession now, from the expectations of both clients and staff, are beyond anything we have had to adapt to before.
So, the million dollar question....have you considered if your firm will still be here by 2030? And what it may look like?
As we enter a new decade, it's worth looking back 10 years, to see how far we've come, and how fast it just whizzed by. 2010 was the year that:
David Cameron became Prime Minister, with Nick Clegg as his deputy;
33 miners were trapped underground in Chile but then after 69 days all 33 miners were rescued alive;
the Icelandic volcano Eyjafjallajökull erupted;
the Winter Olympics was held in Vancouver, Canada.
And what scares me most about that list, is that it seems like 2 minutes ago! So how quickly will the next 10 years pass, and will you still be here and have dealt with all the change being forced upon us by technology, the environment and the expectations of our clients and staff?
What changes can we expect now? Keep reading and I'll share my predictions and my thoughts about how the accountancy profession needs to not only scramble to keep up, but stride out in leading