The four biggest challenges, trends and disrupters facing accountants and accounting firms in 2025 - Accounting Voices Podcast

Episode 101

The Four Biggest Challenges Facing Accounting Firms

Published on: 7th January, 2025

Is technology the saviour or the grim reaper of accounting? 

In this episode of the Accounting Influencers podcast, Rob Brown and Steve Cox delve into the transformative role of technology in the accounting profession. They discuss the historical evolution of accounting technology, the current state of AI, and its implications for the future. Steve shares insights from Gartner's technology trends report, highlighting the rapid adoption of AI and the importance of accountants evolving with these changes. The conversation emphasizes the need for accounting professionals to embrace technology to remain relevant and competitive in a rapidly changing landscape.

Curious about how accountants can harness AI to boost efficiency?

Takeaways

  • Technology is a backup and driver of change for accounting firms.
  • Excel was a major disruptor in accounting technology.
  • Many firms are still reliant on outdated spreadsheet technology.
  • Digital transformation is essential for accounting firms to thrive.
  • AI is not replacing accountants, but those who don't use it will be left behind.
  • Accountants have access to vast amounts of data, making them well-positioned for AI adoption.
  • The hype around AI is beginning to settle as firms find their niche uses.
  • AI can enhance communication and task automation in accounting practices.
  • The accounting profession is ahead of many other industries in AI adoption.
  • Future success in accounting will depend on embracing technology and innovation.

Chapters

00:00 The Role of Technology in Accounting

07:09 The Evolution of AI in Accounting

12:54 The Hype Cycle of AI

22:24 Future Predictions for Accounting and AI

View the video version with all visuals on Youtube; https://youtu.be/DaaqrXoIabU

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The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

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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.