Exploring Capitalise’s firms of the future

Capitalise has released insightful new research based on an independent poll of 500 UK accountants

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Capitalise's Firms of the Future report, which uses data from an independent poll of 500 UK accountants, unpacks the role of the modern accountant, their evolving client relationships and the strategies they’re using to stand out from the competition.

The report also takes a closer look at how accountants are pricing their services, what they're prioritising in client meetings and where they're headed in the next 12 months.

Download the full report or read on for a peek at some of their key findings.

Evolving client-accountant relationships

The first section of the report zooms in on the accountant-client relationship, finding these bonds to be stronger than ever before. More meaningful conversations are a top priority across the industry and 67% of accountants want to connect with their clients more regularly. Research from Capitalise sees firms deepening relationships, prioritising holistic advice and becoming true partners to their small business clients.

Also covered is the effectiveness of client meetings, how these have evolved in recent years and what that shift means for both accountants and their small business clients.

Hiring and retaining the best people

When Capitalise asked about their biggest challenges, 45% of firms said high staff turnover and client retention. Many firms are hoping to alleviate these frustrations by expanding their service offering this year. The thinking here is that an expanded offering will attract and retain not only talented staff but also new and existing small business clients.

In this section of the Firms of the Future report, you’ll find further insight into the strategies firms are using to differentiate themselves from the competition. Capitalise also delves deeper into the mindset of accountants right now and what excites them most about the next 12 months.

Taking a closer look at the numbers

The Firms of the Future report sees a shift from firms moving into advisory to firms expanding or enhancing an established advisory offering. Advice about credit improvement and funding came out on top with 58% of accountants prioritising these areas in their conversations with clients. Capitalise pinpoints compliance work as a key part of this shift as accountants look to leverage the wealth of financial insights at their fingertips.

This section of the research takes a closer look at the advisory services accountants are offering as well as their perceived value and the pricing structure favoured by firms. You’ll also lift the lid on the advice accounting professionals are prioritising in the current socio-political climate.

To find out more, download your free copy of the The Firms of the Future report or visit Capitalise's website to unlock even more of your advisory potential.