In 2016 I plan to transform B&I Lockwood Accountants into a digital practice. Or at the very least implement a digital transformation strategy.
But the notion I have been wrestling with is : What does a digital accountancy practice look like?
I know that we need to digitally transform our practice, but, HOW? And WHY?
The hard facts are that many of our clients are really struggling with their own digital transformation.
We will not be able to help them unless we have begun down the road of digital transformation ourselves.
Our clients are not fools! They know when we are bluffing.
We have to walk on the coals ourselves before we can lead them through it.
Anyway here is my thinking. I will share it with you for the sake of stimulating comment and feedback so that i can get it clearer in my mind.
The rationale, IN MY MIND, is:
- We need to differentiate our firm in the market-place
- We need to better position ourselves within the extensive economic activity occurring in the digital field
- We are being disrupted and we need to do something.
- We need to reduce our servicing costs
- We need to design new customer experiences
- We need to be proactive
- We need to help clients deal with the digitalisation of their businesses
How will the practice look and feel when it undertakes this transformation:
- Almost all paper has been removed from our outward communication systems
- A high awareness of what is going on in the digital field
- Secure systems
- Using apps to conduct our business eg. Mail chimp, survey monkey
- Digital issues are included on our Comprehensive Client Review
- Strong presence on social media
- Use more cloud products
- An awareness of opportunities for clients in the digital field
- An ability to draw on our own transformation experiences in advising clients
- Better awareness of our clients as to what we are doing
- A high level of engagement with clients
- The maintenance of a larger network of resources
- Clients are involved in helping other clients
- We are networking our clients
- Awareness that our clients are using more mobile technologies
- We will be using digital signatures
- We will be early adopters of all the technology and a change that the ATO throws at us
- An awareness of the new digital book-keeping systems
- We need to be up-to-date on these systems and apps
- We create value by engagement and providing advice rather than producing paper
- We may need to consider fixed fee services
- We need to incorporate staff into these processes and awareness
- We need to be agile in our decision-making and operations
- A FB group facilitating clients helping each other
- We wont make fun of ‘new things’. We will embrace them
- We need to recruit people who are tech-savvy or are prepared to be
- We may need our own app
- We need to obtain a new range of referrers with whom we are trusted suppliers
Digital transformation is not for the faint-hearted!
But it has to be addressed——-or the abyss will appear before us.
Feedback is invited.