Episode 38

Accounting Firm Practice Management Insights with Ian Thompson (Highlights)

Published on: 27th October, 2021

Episode 38. On today's episode, Rob Brown of the Accounting Influencers Podcast interviews Ian Thompson of Iris Star on what is working for accountants with practice management software.

Ian Thompson is a Senior Manager at Iris Star Practice Management. Providing solutions to accountancy firms since 1984, Ian joined Star in 1996. In 2019 Star joined IRIS Software Group. Primarily focussed on developing new client relationships and maintaining an existing client portfolio, he also has involvement in marketing, development and managing key vendor relationships, such as payments portal provider Apxium.

Ian’s experience with Practice Management covers all sizes of firm in the UK and overseas and has helped many firms to operate more efficiently and profitably. When not working, Ian is a keen cyclist, swimmer and skier. He is also looking forward to being a regular cinema and theatre goer again.

Key shownotes from the whole interview include:

➨ Whether 25 years in a tech/software business is a long time or not

➨ What Iris Global actually means and stands for

➨ How the acquisition by Iris changed what was happening in Star with more resources and assets

➨ The kind of accounting firms Iris Star Practice Management is perfect for

➨ What makes Practice Management so hard to define in the accounting world

➨ The big trends in Practice Management across the accounting profession globally

➨ The two essential outputs of a good Practice Management system

➨ How Iris Star Practice Management stacks up against the competition

➨ How the market narrows for more demanding Practice Management systems in accounting

➨ The two kinds of Practice Management challenges faced by accounting firms internationally

➨ Analysing the cloud vz desktop options for accounting firm Practice Management

➨ The big reason North America accounting firms lead the world in Practice Management

➨ Why it's so complicated for accountancy firms to get something simple like a timesheet right

➨ What makes many accounting firms inefficient in the way they bill and use legacy systems

➨ The responsibility of software vendors in helping accounting firmsmake better tech choices

➨ Why Practice Management for accountants has not innovated and evolved as much as it could have

➨ How technology is changing Practice Management for accounting practices globally

➨ What the great accountancy firms do that the rest don't when it comes to Practice Management

➨ How hybrid working models, mobile apps, AI, bots and data security are affecting accountancy Practice Management

➨ What has changed in the way accounting leaders run their firms over the last 30 years

➨ The battle between progressive accountancy leaders who want to drive change, and others who are reluctant to change

➨ What a push versus pull attitude to change has stifled innovation and imagination in many accounting practices

➨ The critical role of culture in driving change and adopting tech in accounting firms

➨ The % of revenue growing accountancy firms should be investing in technology

➨ The challenge of talent recruitment, especially with accounting firms being unwilling to jettison unprofitable clients

➨ The pain points or alarm bells an accounting firm might experience to prompt a fresh Practice Management conversation

➨ Whether Covid will change how accounting leaders run their firms

➨ Why there will be a lot more consolidation in the accounting market over coming years

➨ What gives us all hope for the future of the accounting profession

Star Iris Website: www.irisglobal.com/star

Ian on LinkedIn: https://www.linkedin.com/in/ian-p-thompson-b2bb2b5

NOTE TO LISTENERS:

This is a condensed highlights version of the full interview (usually 20-30 mins long), which you can catch as a bonus episode at the weekend.

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About the Podcast

Accounting Voices Podcast
Accounting Voices helps people in the accounting world stay relevant visible and vocal. Host Rob Brown interprets trends reshaping the profession and gives listeners insight to build authority influence and a stronger voice in firms and markets.
Accounting Voices, hosted by Rob Brown, helps decision makers and leaders in accounting and finance stay relevant, visible and vocal in a profession being reshaped by technology, private equity, regulation and shifting client expectations. Each episode interprets the trends disrupting accounting and finance such as AI, automation, M&A, talent and the move to advisory and translates them into practical insight that strengthens authority and influence.
Accounting Voices is also a platform for the wider ecosystem of networks, associations, educators, consultants, software vendors and technology experts who serve accountants and finance professionals worldwide. It extends into regular Accounting Voices networking sessions that connect this audience and amplify ideas that move the profession forward. With its international reach and long shelf life the show delivers credibility and commercial value for listeners and sponsors alike. Search for "Accounting Voices" on YouTube for all episodes and connect with Rob Brown on LinkedIn to find out more: https://www.linkedin.com/in/therobbrown

About your host

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Rob Brown

ob Brown is the creator and host of the Accounting Voices Network, a media platform that includes the flagship solo podcast Accounting Voices and the panel shows Accounting M&A and Accounting Tech. He chairs conferences, panels and virtual events worldwide and is recognised as a leading advocate for the accounting profession.

He is an accomplished speaker and authority on trust, reputation, employer brand, talent, succession, executive presence and the forces shaping the future of accounting. Rob is the author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk The Personal Brand of You has been viewed more than 400,000 times.

A former co-founder of the Accounting Influencers Roundtable, Rob now focuses on amplifying the voices of leaders, firms, networks, vendors and influencers across the global accounting ecosystem.

Outside of work he is a stroke survivor, lives with epilepsy, holds a black belt in kickboxing and is based in Nottingham, UK. He plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.