202114 Sep

Xero’s 2021 UK Industry Insights: How to plan for the future of your accounting practice


Over 500 practitioners from accounting and bookkeeping firms of all sizes took part and the data gathered gives us clear insight into the industry as it stands today. Having a two-way channel of communication, where you can both look at the same data from anywhere in the world just with an internet connection, is vital to staying on the ball and spotting areas for optimisation, therefore boosting profitability for your clients. Finally, Jonathan Bareham suggests it’s worth considering how your recruitment process itself could be adapted to mirror your brand and culture, such as by including video applications if you want to attract a tech-focused workforce for your digital-first firm. Our panellists also discuss how scope creep has been a particular challenge over the last eighteen months, both with remote working and the number of clients that have been turning to their accounting firms for support. Jonathan Bareham notes that charging a small amount per client for furlough advice would overall pay large dividends to the firm whilst also making your employees feel as though their time is valued.

Source: Google