Today, there are two distinct types of accounting firms – labour-based and data-driven. They work in fundamentally different ways, target very different clients and post incomparable financial results. While the vast majority of accounting practices in the UK continue to be entirely labour-based, all of the big firms – and a new breed of small but ambitious enterprises are embracing a fully data-driven approach by building their own, proprietary software platforms, fine-tuned to their priorities. The ROI these pieces of intellectual property bring to their owners year after year is higher than any other asset class.
Watch this space to learn more.