Accounting Trends According To John Savignano
The accounting techniques and trends keep evolving with new and modern technologies emerging. About 90% of the accountants in the United States feel that accountancy is facing a cultural shift leaning towards technology. Also, based on the evolution, John Savignano predicts that the accounting industry trends will shape the industry’s future in America. The CEO of Savignano accountants and advisors is John Savignano, and it is located in New York. Accountants, whether current or aspiring to be one, should ensure that they stay on track with those accounting developments to stay competitive in the accounting sector and build thriving accounting firms in the future. Below are some accounting trends according to John Savignano:
1. Remote Working And Technologies
Most office workers worked in-house before the coronavirus pandemic. The workforce style is changing fast, and many companies have gotten to experience the advantage of working from home. Remote working has benefits like lower overhead costs and improved flexibility.
2. Better Data Security
Cybercrime levels have been rising, and it has become a threat to accounting because it can cause identity theft. Therefore, it is important for accounting companies to protect themselves from data security issues. You can do this by offering cybersecurity training to employees and implementing a two-factor authentication system where only authorized staff can access the private data.
3. Value-Based Pricing
The new trends in accounting may lead to value-based pricing. Due to the industry of accounting being service-based, clients will need accountants who can provide for their specific needs and not those that sell their services at any price point. The future accounting trends will minimize accountants who perform tasks before they discuss the costs in advance, more so with the rise of automation. With this, many accounting businesses can prevent surprises in pricing and damaging relationships with their clients.
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