Digital transformation in the world of accountancy is a broad, influential and far reaching topic. The implications for all accountancy firms, big and small, should not be underestimated. In our regular blog series, we delve down into the specifics and highlight our key learnings and insights. If you’ve any questions, feel free to reach out and contact us (see footer for contact details)

There’s a quaint simplicity to hourly billing. You have your rate and you simply multiply it by the hours spent on the job. Easy.

The prominent digital culture magazine Wired published a story about the accounting sector recently. You don’t even need to read the full article to get the gist - the headline says it all:

Accountancy is in need of digital transformation, but that is not always easy to accomplish. High costs and a time consuming change process are common obstacles for accounting firms, as Tom Lefevere observed. He interviewed many accountants as UX designer for Xerius, an organisation that provides information and guidance for starting entrepreneurs. In this post he shares his thoughts and opinions on digital transformation in the financial services industry.

At the heart of becoming your clients’ trusted advisor is listening. That might seem like a low-tech, almost quaint idea in 21st Century finance - but it’s actually a crucial component in remaining relevant, directly linked to how you use technology.

According to Ray Kurzweil, the famed futurist and Google’s head of engineering, there’s a cycle to technology adoption. “We see an early period of over-enthusiasm,” explains Kurzweil, “then a ‘bust’ when disillusionment sets in, followed by the real revolution.”

Series A round led by Index Ventures comes as Silverfin onboards 64,000th business onto the platform

When we think of accounting’s Big 4 firms clientele, we usually picture blue chip corporates far removed from the Main Street.

Silverfin ceo Joris Van Der Gucht asked me to write a blog post for their Connected Accounting Authority blog. Considering my role as New Technology & Innovation Advisor for 216 Accountants, he expected some food for thought. So here we go. (Just to be clear, I write this article in a personal capacity).

It was in 1960 when the famed US Navy aircraft engineer Kelly Johnson first noted the design principle KISS, an acronym for “Keep it simple, stupid”.