4 Accounting Trends To Follow In 2016

Now that we're well into 2016, a handful of trends have emerged, as predicted. Keep tabs on these if you haven’t already, and stay ahead of the curve!

Cloud-Based Software

So many other aspects of business are cloud based by now. People want to access their numbers from their computers, phones, and tablets. Keeping data in the cloud is becoming more and more imperative for all businesses.

Mobile Business

As businesses (especially startups), are moved into cloud-based systems, opportunities that differ from traditional accounting firm structures are becoming more and more popular. Now you even choose to opt out of maintaining a base office, and stay on the go. While that may seem a little extreme, it allows you to offer other benefits not available before; such as working from home, or offering extended vacations if your employees agree to work abroad. 

Value-based services

If you haven't experienced this already, it is likely that you will. Customers are now asking for more than just the numbers, they want advice! This may be difficult to integrate into our current invoicing or fee structure, but it is worth considering how you can add more value in terms of advice and assistance (especially with the dramatic increase in startups), and get properly paid for the value you provide.

Social Media

Embrace it. Know your Yelp ratings. This is how your new clients will find you and check to see if they want to do business before you even make contact. Have a company LinkedIn (or a personal LinkedIn), because your younger clients will most likely look at that before signing contracts. Make sure your website is modern, works on mobile devices, and has share buttons for at least the LEAST Facebook, LinkedIn and Google+.

Now that millennials make up almost a third of the current workforce, and many of them are choosing entrepreneurship over more traditional career paths, it will become more and more vital to have a presence where they spend time and look for information.

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