Trends Shaping the Accounting Function For Entrepreneurs

I recently just returned from travel out to LA. One of the things I always enjoy about travel, whether it's domestic or international, is the opportunities it always provides to meet and talk with young entrepreneurs and hear their many different perspectives and ideas across cultures. Typically, our conversations revolve around some key technologies that are transforming how their businesses want to be able to function.

Cloud based applications - top the list. This is because internet-based solutions provide for ease of collaboration and sharing of ideas and information in real-time. Never before have businesses been able to connect their infrastructures to service providers such as myself, and in such a cost effective and efficient way.

Actionable Data - meaning that business owners want their accounting professionals to be providing them with value through the process of providing experienced insights and analysis of their business in a timely manner such that the information can readily be acted upon in the making of better decisions.

Mobile is King - because a new generation of younger business owners has emerged and they have never had to operate in a world that did not have widespread fast internet and smart phones. So naturally, they expect to be able to operate a business the same way. They want immediate information delivered to portable devices, while they are on the go. They also want their accounting professionals to be just a tech savvy in keeping up with their mobile expectations.

From my perspective all of these trends have helped to move the accounting service paradigm to one that is more client-centric where I am in a position to respond to their needs much sooner, and in a much more real-time interactive way - and that's definitely a good thing.

Lester R. Bahr
Certified Public Accountant
QuickBooks Advanced Certified ProAdvisor - for over 18 years.