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What technological trends matter for Accountants in 2018?

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What technological trends matter for Accountants in 2018?

As an accountant, you will no doubt be no stranger to just how easy technology can make your life. Used in the right way, it can make complex problems a piece of cake, whilst turning time consuming busy-work into a few short clicks. 2018 sure offers many interesting benefits to using and adapting to modern technology. However, there are also some things to take into consideration for the long-term about how your accountancy firm uses technology. In 2018, the following tech trends in the industry might be worth keeping an eye on. You may find that, by listening to and/or adapting for each issue, you can make the rest of the year far more profitable.

GDPR is here

Unless you have somehow managed to avoid any form of business, legal or online marketing talk, you’ll have head of the General Data Protection Regulation (GDPR) adjustment. It’s a European Union ruling, and adjusts how customer data is being used and treated by companies.

Basically, there’s far more legislation over how you are using data. Every individual must now give consent to a company holding their information. If you have not done much about GDPR, we recommend taking action now: it became mandatory on 25th May 2018!

Aim for the cloud(s)

Cloud accountancy is very much en route to becoming the norm, and you would be brave to try and avoid change. You should look to try and get into the scheme of using cloud accountancy, especially with the Making Tax Digital for Business scheme which is lurching over the horizon. It’ll be here by 2020 (so they say), so it’s important that you get cloud accountancy software installed ASAP to avoid getting caught cold when the big changes come.

Video is Taking Over

While the power of the written word is always going to be a powerful tool, video marketing for accountants is very much in. People are enjoying using video over both image and text at the moment. While you should have a fine balance of each, there’s a definitive trend towards using video more than before.

It’s great for adding a bit of personal flavour to a marketing campaign. You could use it for showing a quick rundown of important stats in a cool animated video. You could do a heartfelt plea to donate to a local charity cause that you are taking part in. Many solutions will work, but so long as it is built around video – and done well – it should help.

Taking advantage of apps

Lastly, accountants are seeing a huge return on investment by investing in their own mobile app. It might seem over the top, but if it makes it easier for people to send you their content, leave messages and handle feedback that you send them or to handle requests for information, it could make a very shrewd investment.

Whatever you choose, you should have little to no problems taking advantage of apps for the long-term. If you are looking to try and build up your accountancy firm in 2018, then getting involved with the above technological trends will do you the world of good. Each one could make a pretty big difference to the way that your business operates. When you need to stand out against such competition, now is the time to really make your mark.

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