I typically follow the software space closely.
I have incorporated several concepts from these technology companies into my previous firm and I admire the focus they tend to have on the customer journey and experience.
And I’m not the only one either.
So it’s natural that some of the content I share with you is being produced by software companies for software companies. Still, the concepts are applicable to firms.
“True disruption happens in a market where the incumbents have stopped innovating and there’s pent up demand for something new. This pent up demand causes both a shift in perception and a shift in market share from the incumbents to the new challengers.”
I believe this is what we are starting to see now in accounting.
There is absolutely pent up demand for something new right now. Your clients do not want the same tried, tested and true approach to accounting, audit and tax. And the incumbents have not been delivering it.
This is why the cloud accounting firms are growing so much faster than others, this is why I’m betting that QuickBooks Live
will make a splash with its modern bookkeeping platform (yes, Intuit now offers bookkeeping services) and this is why accounting tech-startups are raising a sh*t load of cash.
… all are challenging the incumbents who don’t see to understand what makes a client tick these days.
In #1 below, I continue on this point.
Also, for those that are interested, I’ll be joining Receipt Bank in a webinar today at 2pm EST to talk about my experience from starting a firm from scratch all the way through to acquisition. Register here
Now, on to this week’s Future Firm Weekly Top 5: