Changing roles for accountants

In a changing world with customers demanding more added value services and wider advice, management accountants and accountancy businesses may have to re-evaluate what they offer. This is the argument made by Neil Davidson, the managing director (U.K.) of Deltek in an article on the Accountancy Age website. Davidson also argues that this can only be done when a business understands and controls its business data. He says firms must “ become agile enough to offer new value-added services and ditch the archaic pricing strategy of recoverability.” They need to have an “ have an insight into their business processes including engagements, client servicing levels and profitability.” To do this he recommends having good internal procedures to bring together vital information in an integrated software solution and ‘not inputting disparate data into a myriad of spreadsheets.’ For more about the new age of accountancy see the full article at http://www.accountancyage.com/aa/opinion/2156447/stuck-moment