As we are fast approaching the year 2020, we can look back on the year and realize that digital transformation is not simply a buzzword but a phenomena.
With digital transformation causing an industry-wide shakeup, the financial sector and accounting profession has been no exception to extreme disruption.
The challenge lies in the traditional nature of the accountancy industry committing to move away from comfortable legacy systems to cloud services and new technologies that meet the demands of security concerns and digitally savvy clients. Innovation is critical – accounting firms that don’t embrace it will be stuck in a paralysis of outdated processes whilst their competitor’s will pass them by, and with the increasing reliance on technologies, there comes a threat of data security. As a result, it becomes imperative for accounting firms to have a solid digital infrastructure in place. Read More