- Roundtable event with ACCA UK members highlights the importance of technology and connectivity
Practitioners from some of ACCA UK’s leading small to medium accountancy firms recently took part in a roundtable event with technology innovators IRIS and Xero to discuss advances in the sector.
Discussions centred on what’s happening right now and in the future, and to explore ways of working together to provide advice and support to those firms yet to make the most of opportunities ahead.
Recognising the dynamic environment, ACCA UK members said that the power of technology to connect with their clients was ‘truly transformational’.
Claire Bennison, head of ACCA UK says: ‘It was clear from discussions that developments in technology create a fast-paced landscape, but one that’s full of opportunity for those accountants with a business and technical mindset. But it’s not all about advisory services, there’s still opportunity to thrive with compliance if firms embrace technology and align their strategy to the right clients. So this gave us all valuable insights into the opportunities ahead, especially around how technology can create the potential for expansion.’
Damon Anderson, Director – Partner & Product, Xero and Steve Cox, chief evangelist from IRIS took part in the roundtable, and signed the MoUs with ACCA UK afterwards.
Damon Anderson says: ‘When talking to ACCA members, it’s clear that as they grapple with the forces of digital disruption, they can’t afford to sit still – and I’d certainly agree with that. The great news is that there’s support available. We all agreed that it’s far easier to embrace this type of change when everyone’s got the same mind-set. It then won’t be long before you discover the right support network and a willingness to collaborate together.’
Steve Cox adds: ‘Being a leader in this field is about sharing expertise and sourcing great advice. It’s also about having an innovative approach, and that’s where the use of technology can really help with business growth. We all agreed that using technology can ensure accountancy continues to be an attractive sector for talented and ambitious people. It can help firms be even more entrepreneurial and thrive in the digital economy.’
After the event, ACCA signed MoUs (Memoranda of Understanding) with Xero and IRIS to look at ways to work together in support of a more connected network. Through the MoUs, IRIS Software Group Ltd and Xero UK Ltd will both work with ACCA to help their small to medium sized practitioner members to develop their technology awareness and talent, and also advise on technology developments and how these can be used to grow their own business and that of their clients.
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IRIS Accountancy Solutions
With over 21,000 customers and 75 of the top 100 UK accountancy practices using IRIS products and services, IRIS Accountancy Solutions exists to simplify the lives of accountants by making them more effective and more productive. Through its heritage of deep domain knowledge, breadth of product functionality and innovative use of technology, IRIS delivers best-in-class accountancy software solutions for use by every practice in the UK.
Approximately, 44% of all online submissions to HMRC and Companies House are made using IRIS software – the most efficient suite of integrated compliance, productivity and collaboration solutions for accountants to grow and evolve their practice.
IRIS Software Group
IRIS Accountancy Solutions is a division of IRIS Software Group, the largest privately-owned software supplier in the UK and one of the most trusted business-critical software and services providers in the UK today. Through its solutions, the group serves more than 80,000 SMEs, corporates, and payroll bureau customers across a wide range of UK industry sectors. IRIS Software Group offers the greatest range of specialist accountancy, financial management, human resource management and payroll solutions - delivered as a choice of integrated on-premise software and cloud-based applications. These are managed under the leading IRIS, PTP, KashFlow, Keytime, Taxfiler, Cascade, PS Financials, Results Squared, ParentMail, Star and Earnie product brands.
For more details visit iris.co.uk. Follow us on Twitter: @irisaccountants, @irispayroll, @kashflow, @keytime @CascadeHRMS, @PSFinancials, @ParentMail and @TaxfilerLtd.
Xero is a beautiful, easy-to-use global online platform for small businesses and their advisors. The company has 1.4 million subscribers in more than 180 countries, with more than 312,000 of those in the UK. Xero seamlessly integrates with more than 700 apps. It was ranked No. 1 by Forbes as the World's Most Innovative Growth Company for two years running and won Technology Provider of the Year for the British Small Business Awards. Xero has also won a number of other awards, including Practice Software of the Year at the British Accountancy Awards and Payroll Software of the Year at the Institute of Certified Bookkeepers LUCA Awards.
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
ACCA supports its 208,000 members and 503,000 students in 179 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 104 offices and centres and more than 7,300 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.
ACCA is currently introducing major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally.
Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.com