Innovation Infusion: Accounting Software’s New Era

Ep: 44 Top experts answer: "What could the tech/software vendors do better to serve accountants?"

The Accounting Answers Podcast, hosted by Rob Brown, asks critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. Today we ask:

What could the tech/software vendors do better to serve accountants?

You'll hear insightful and passionate answers from these 5 experts and influencers:

Amy Horner | Change Enthusiast, Business Strategy Consultant, Keynote Speaker, and Podcast Host

Amy Vetter | CPA, speaker, yogi and CEO of the B3 Method Institute

Andrew Argue | Founder of Instead.com and Corvee.com for smarter tax decisions

Anne-Kathrin Steinröder | Head of the ETL GLOBAL Network of accounting firms

Apoorv Dwivedi | Founder of Fixyr Marketing, strategic marketing advisor for accounting firms

Tune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them.

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What is Accounting Answers Podcast?

Brought to you by Rightworks, the ACCOUNTING ANSWERS PODCAST is hosted by Rob Brown, co-founder of the Accounting Influencers Roundtable (AIR).
On this weekly show with short, sharp episodes, Rob asks 110 experts and influencers the critical questions shaping the accounting profession. It keeps you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them.

Go to https://www.rightworks.com for secure, remote access to all your core apps, all in one place. Special deals and discounts for accounting professional and firms, plus a community of high quality content and resources to grow your firm.
________________
Host Rob Brown is a renowned presenter, facilitator and chair of high-level conferences, panels and events globally for the accounting and fintech profession. He is retained by many professional networks, alliances, associations, practices and vendors to chair their events and provide high-level interview content for their communities. He is a dynamic speaker and accomplished expert on trust, reputation, employer brand, talent, career development, succession, gen z/generations, employee advocacy and executive presence. https://www.linkedin.com/in/therobbrown/

Rob is author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed over 300,000 times on YouTube. He is a stroke survivor, has epilepsy, is a committed Christian and has a black belt in kickboxing. He is based in Nottingham UK, home of Robin Hood, plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.
https://www.linkedin.com/company/accountinginfluencers
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Rob Brown: The future of
accountant, isn't just about

numbers and financial statements.

It's about empowering businesses to make
informed decisions, navigate complex

challenges, achieve their financial goals.

And everyone recognized that Kansans
are at the heart of this and must become

trusted partners with business acumen
expertise in data analytics, storytelling,

strategic guidance, taking the clients
towards success and whatever your role

is in this ecosystem, you need to stay
ahead of the curve to stay relevant.

And that's why this accounting
answers podcast was conceived to

keep you informed and competitive.

I'm your host, Rob brown, and
I've interviewed 111 accounting

experts, leaders, advisors, vendors,
and influencers in the last few

months and collected for you the
very best and latest thinking on

what works and what is coming up.

And this week, they show 10 to 15
minutes gets you the low down on

what matters today in the rapidly
evolving accounting landscape.

And the professional is shed
in its traditional image of

number crunching, embracing a
bold new future data technology,

strategic guidance, reign Supreme.

I've asked the same five questions
throughout covering the next

generation of accountants.

The proactive advice they need to be
given the drivers have changed the

role of tech and software vendors
post the best predictions for the

next few years, let's get started and
hear what our experts have to say.

Today, we're again, asking
people who care about accounting.

A simple question.

What role do the tech providers
and software vendors play in

the evolution of the industry?

Technology's playing an increasingly
crucial role in the accounting profession.

And the consensus is the tech industry
needs to step up to meet the evolving

demands of accountants, but how exactly.

Listening as another five of our
111 influencers and experts share

their wisdom and their best insights.

Let's hear from Amy Horner, a change
enthusiastic business strategy

consultant, keynote speaker, and
podcast host who brings innovative

ideas and strategies to businesses.

Looking to thrive in changing markets.

It's very similar to how accountants
can do better to serve business leaders.

Amy Horner: It's the strategy, the
solution, and the offering or repurposing

of time while mitigating risk.

Instead of saying, here's our off the
shelf solution, just plug it in and

everything will be fine, because that is
Nothing could be further from the truth.

I have never seen anybody plug in a
new application and it be seamless

and easy and wonderful and everyone's
throwing their arms around it

and, you know, confetti cannons.

It is tough.

I spoke not too long ago, to a group with
a large public accounting firm and, and

helping them understand when they walk
into the client's office, they're not

necessarily seen as a solution, right?

They're seen as an expense.

Or something we need to do or
something that's going to take a lot

of time and so very much the same
is saying I'm here as a solution.

I want to understand your business.

I want to understand
your challenges, right?

That's consultative selling at its
finest understand what's going on.

And here's how I can help you, versus
here's how we're going to have to do

a key change and remap your entire GL
that, I mean, that's not a good time.

Have you ever done that?

Have you ever remapped a GL?

I've done it once.

I will never do it again.

Um, next is Amy Vetter.

CPA speaker Yogi and CEO of
the B3 method into, to blend

in her expertise in accounting.

With mindfulness practices to
promote balanced leadership and

wellbeing in a professional world.

Amy Vetter: My opinion on how the tech
vendors can do better to serve accountants

is that they better understand.

The day in the life of an account that
they don't call accountants heroes.

No accountant is going to
work every day to be a hero.

So over and over that has been marketing
speak and tech companies for as long

as I can remember that you truly
walk in their shoes and understand

why they love this profession.

So a lot of times.

You know, the value proposition for
many tech vendors is that this will

take away this work for you or you
don't have to do that drudgery anymore.

And the problem is accountants
like that, like accountants that

truly love the work that they do.

Like the work that they do.

So just like in a diversity sense, if
you are going to work in a profession

and serve that profession, it's
important to understand the mindset

of that profession and where they
get joy out of the work that they do.

In all my years in the tech industry,
being inside tech companies, as well

as outside of tech companies, what I
have seen is as a tech company grows,

they get further and further away
from innovation and taking risks.

And start moving into safety.

And that is what deters someone from
wanting to work with that company anymore

when they get too large and they're not
coming up with the big ideas anymore.

They're not coming up with
the innovation anymore.

That it starts looking antiquated when
at one time you joined that software

because it was the newest thing.

So, my advice to tech companies is
to never lose that passion of why

you started in the first place.

What actually drives you?

What's your purpose?

To make sure that you are constantly
innovating and you keep that

startup mindset, even if you get
very large and very successful.

Joining the conversation now is Andrew
argue the founder of instead.com and

coffee.com dedicated to helping businesses
and individuals make smarter tax decisions

through innovative software solutions..

Andrew Argue: I think right now there's
like a lot of different tools out there

that people use and they're taking.

AI and they're bolting it on as like
co pilots and chats and so forth.

I think a lot of these companies
though, probably if they were to

rebuild their product from the ground
up and make AI, not an add on to what

they currently do, but make it the
core of the product, I think you're

going to see a better experience.

Like, what does it look like when AI
is the core of the general ledger?

Or what does it look like when the
AI is the core of the tax preparation

and compliance and advisory
process or the core of an audit?

And I think the companies that, even if
they are a big company, if they decide

to kind of, rebuild their product.

From the ground up with that at the
center, I think are going to have

a much stronger position and much
better value profit for the firms.

think it's hard to say because,
like I said, people still use.

10 keys with receipts on them.

So it's, hard to say there's, there's
a lot of things today that were built

in the seventies and the eighties.

So I think that things will linger
on a lot longer than people think.

so it's, hard to make some,
like a doomsday prediction that

it'll be all doom and gloom for
them or like in the short term.

But I do just think it's
sort of managed decline.

if they don't make that adaptation, sort
of a secular managed decline versus.

Innovation in the future and I do think
eventually the tides will turn and

they'll feel pain, but it could take
a while because a lot of businesses

are very comfortable where they're at,
and individuals are comfortable where

they're at, and the firms are very
comfortable with stuff they're with.

And so it probably will take
longer than people think.

The technology will be much, you know,
will be much better if they switch, but

I think there'll be, there'll be stubborn
groups of people there for a while.

It'll keep those companies afloat.

And now insights from I'm Katherine
Stein, Rhoda headed the ETL global

network of accounting firms, where
she spearheads initiatives to foster

collaboration and innovation across
the global accounting landscape.

Ann-Kathrin Steinroder: I think
that's a two directions thing.

It's not only that, software vendors
can do better to serve accountants,

but it's also the accountants who
have to do something for it because

there's always a language barrier.

So both.

Both sides need to understand each other.

So, usually software developers
and tech vendors don't really

understand what accountants are doing.

And the other way around accountants
don't understand what software

developers are doing and what
they need to know to develop the

perfect, well systems for them.

So in that sense, both.

sides need to be open or more open to
understand each other and, and work

together on, well, the perfect solution.

And I think it's the same thing
everywhere, even in my whole

household appliances at home.

If I look at my coffee machine,
you always wonder like, okay,

what did the developer think?

Did he ever make a cup of coffee
himself when he developed this?

Software to make this appliance work.

So it's the same thing in accounting.

I think that basically the developer needs
to understand what the task is and what

in the end the user experience is like.

And on the other hand, well, there's also
an obligation from, from the receiving

part to tell exactly what he's needing.

So it's a language thing.

We now turn to our pod Dwivedi founder
of fixer marketing, a strategic

marketing advisor for accounting firms,
bringing cutting edge strategies to the

forefront of accounting firm growth.

Appoorv Dwivedi: you know,
again, I come from, marketing

and customer research background.

So I'm always about the
client and about the customer.

So, you know, if I think if I
look at the tech industry and the

accounting software vendors, they're
out there, particularly the big ones.

How can they better serve accountants?

They can better serve accountants
by better serving accountants.

customers.

So if they better understand what
clients are demanding of their

accountants, then they can help the
accountants to deliver that right.

And you know, I go back to something
I said previously, but it's not a

one size fits all solution, right?

For some, maybe it
means faster for others.

Maybe it's does it allow them to be
cheaper or does it allow them provide

more communications and more touch points.

Does it allow them to provide
more reporting or insights or

other value as well, right?

So, um, but, you know, I, I think the,
the vendors that figure that out, um,

and really understand how their tools are
being used by accountants for the benefits

of their customers, um, are the ones that,
um, are really going to win going forward.

Microphone (TONOR TC30 Audio Device)-2:
So they have five grand

answer to the question.

What could the tech and software vendors
do better to serve accountants each

work in depth that week, Monday through
Friday, we give you the insights of five

top influencers in the accounting world.

On this critical area of the
tech providers, software vendors

and how they serve accountants.

That's 25 valuable perspectives,
viewpoints and best thinking every week.

And with each fresh week comes a
fresh question and more thoughts

from the best accounting leaders
and influences we can find.

Thanks for listening to this brand
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peers until next time, this is your host.

Rob brown, saying stay informed,
stay relevant and stay connected.