In every business, we continue to see change disrupting the way we do business. It is important for every person in business to be flexible and adaptable in this environment.
I read an article recently that was suggesting that bookkeepers would soon be obsolete because of the changes in technology that can automate data entry. There has also been much discussion around the threats to accountants through automated tax returns and other compliance tasks.
I tend to agree that we will increasingly see mundane tasks being performed in new ways. Repetitive tasks that, in themselves, deliver little value are the most likely to be reformed. Things that are, in effect, products or commodities will be readily traded in a falling and competitive market and will be under price pressure. For some businesses, this can mean extinction as the lowest price will win.
Consider the opportunities
We all need to take stock and clearly understand the value that we deliver. Are we simply delivering products or commodities or is there something else that we have to offer? For Saward Dawson this is a reminder that that we deliver more than just tax returns, accounts and audit reports. Rather, we are always to be focused on protecting and improving our clients’ positions and improving their businesses. This works at all levels tax, business advisory, audit, superannuation and wealth management.
But what about your business? How long is it since you reviewed your vulnerability and focused on the value proposition that you have to offer? Flexibility and adaptability are crucial but this doesn’t just happen – it requires conscious decisions and careful planning.
So why not make a time to sit with us and explore the ways in which your business may be exposed. Together, let’s develop strategies to leverage on available opportunities and grow stronger through this period of change.