Episode 17

Why Software & Tech Adoption is Slow in Accounting

It's the "UK Matters in Accounting" show, every Thursday to 150 countries and 30,000 accounting practitioners, fintech specialists and influencers in the accountancy, CPA and bookkeeping space.

In today's episode 17, "Why Software & Tech Adoption is Slow in Accounting" with special guest Will Farnell, founder of innovative UK accountancy firm Farnell Clark and author of The Digital Firm. https://www.linkedin.com/in/willfarnell

You can also watch this on youtube here: https://youtu.be/uwCrXMi2KxU

Key takeaways from this episode include:

☞ reference to a Xero slide via Ian Phillips about how early adopters often capture a market

☞ the reasons why the accounting profession and cloud technology adoption hasn't moved on as much as experts predicted

☞ the magic number of 75% when defining cloud adoption in accountancy practices

☞ why only 5% of the UK accounting market can be defined as cloud accounting firms

☞ how innovative cloud accounting firms and strong tech adopting practices are taking clients from bigger firms

☞ the power of cloud and tech adoption differentiates accounting firms when the playing field is otherwise level

☞ the opportunity that MTD could offer accountants if it goes ahead and drives tech and cloud adoption with digital accounting

☞ how MTD could have been a catalyst for better tech adoption in accounting firms, though it's sad that the profession even needed a push to modernise

☞ the switch from regulation and government driving digital accounting to clients and millennial business owners

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❶ Success in Accounting - MONDAYS. Our flagship main show features panels, live interviews and replays of our most popular shows.

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❸ Influencers in Accounting - WEDNESDAYS. Deep dive 1-1 interviews with leaders, experts, influencers from around the world.

❹ Best Practice in Accounting - THURSDAYS. Practice development, growth, management, consulting, examples, stories and practical here's what works stuff for accountants, bookkeepers and the fintech/software people who serve them.

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Mentioned in this episode:

Dead Show / YouTube

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About the Podcast

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UK Matters in Accounting
Critical insights, commentary and analysis of key issues, trends, news and events in the accounting and fintech world, specifically for the United Kingdom

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About your hosts

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Martin Bissett

Martin Bissett is the founder of the Bissett Group of companies that provide practice and personal growth communities, content, and continuing education exclusively to the accounting and bookkeeping professions worldwide.

Previously he established a high six-figure consulting firm while serving as a keynote speaker with over 100 one-off and repeat engagements to his name, as well as becoming the most published author on his topics of specialism with 11 books including 1 bestseller.

Since 1998, he has played a major part in working with over 1800 accounting firms in over 40 countries. These projects have led to those firms acquiring over £500m of recurring fees before inflationary increases, referrals and upselling are factored in. He stopped keeping track of this number over 5 years ago. Martin now advises both accounting practitioners and FinTech companies alike, at board level.
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Rob Brown

Rob Brown chairs events, panels and networking events globally for the accounting and fintech profession. He is Rob is co-founder of the Accounting Influencers Roundtable (AIR) which runs international virtual speed networking events for the accounting community. To participate, go to https://accountinginfluencers.com/events and book your place at the next gathering. Great to build your personal brand and make valuable industry connections.

Aside from interviewing thousands of accounting experts and influencers, Rob helps accounting firms attract talent through compelling employee advocacy and branding techniques. He is author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 400,000 times on YouTube. He is a stroke survivor, has epilepsy, is a committed Christian and has a black belt in kickboxing. He is based in Nottingham UK, home of Robin Hood, plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.