Whether it's on-boarding a new customer or employee, managing day-to-day operations such as accounts payable, payroll and benefits, or streamlining other repetitive business tasks, clients look to their accountants for help and guidance.
Artificial intelligence, machine learning, and automation are top of mind for most businesses these days. In this highly competitive business landscape, the efficiency of an organization's processes can greatly affect its success and bottom line. Busy small business owners must find ways to level the playing field against larger, more established companies to stay viable in this incredibly competitive landscape. And according to a recent study by ADP®, more than 90 percent of them are looking to their most trusted, strategic advisors to help them – their accountants.*
Many accounting pros I meet around the country tell me that they are concerned about stepping into the role as a technology and process automation consultant because they don't feel that they have the skills to appropriately support their clients through this process. I tend to disagree. In fact, when we think about process automation, most of us think of engineers who are highly skilled in the inner workings of technology. But that really isn't the case at all.
I did some research on the skills listed in employment ads for both a staff accountant and a process engineer – and what I found was that the soft skills needed for both these positions were essentially identical! The only difference I found was that the process engineer listings almost always had a creative component to them, whereas the staff accountant listings did not. Accountants can't be creative, right? Wrong!
Accountants are natural problem solvers that must think outside the box constantly as they tackle the unique needs of each of their clients. I'm sure you have created many very creative workarounds for your clients throughout your career! The point I'm making is that accountants are naturally suited to step into the role as a process automation consultant because we have the analytical mind and desire for consistency and reliability of data.
All of the "big four" firms and many of the top 100 accounting firms are already providing their clients process automation advisory services. This is a big opportunity for smaller firms to add an additional and lucrative service offering.
What processes should you automate? Continue reading this blog post from ADP to find out.
ADP is presenting a webinar called 'Automate Your Practice with Accountant Connect & QuickBooks' with Insightful Accountant on August 20 at 12:00 p.m. Eastern Time, hosted by Heather Satterley. Register Here.