As the year draws to a close, we find ourselves reflecting on the year that’s been. As we like to say, your financials tell us your story and as your accountants, we become pretty familiar with the trends our clients are facing in their respective industries. The year has been marked by change, for us as well as for our clients. A change in government, uncertainty in the property market, an increasing focus on digital transformation, a tightening and increased scope of anti-money laundering regulations, announcements of more onerous PAYE filing requirements and a proposed extension of current bright-line rules…all factors which have had a flow-on effect to the issues and business trends you have been and are currently facing.
The accounting industry too is currently undergoing rapid change – the speed of digital transformation has picked up a notch this past year and we have been working hard to ensure that we are well positioned to offer our clients solutions to help keep you competitive. We have seen huge enhancements in accounting software, as software providers continue to focus their attention on the increasing advantages of cloud-based solutions for small to medium-sized businesses. With announcements of further PAYE filing requirements to take effect in 2018 as well as the introduction of new methods of calculating provisional tax by the IRD, the necessity for businesses to move onto cloud-based solutions that allow a seamless transition of information to the IRD is becoming more and more prevalent for business owners.
Internally we have also been streamlining our practice solutions in the aim to refine our processes and position ourselves for our next stage of growth. The changes in the industry present opportunities for us as a firm to increase our service offerings and better position ourselves as your business advisers to help you with the changes you and your business are experiencing in this age of rapid digitalisation. We have undergone three data migrations this year for our practice, tax and document manager solutions – which we have been beavering away at behind the scenes, with more internal changes to come in 2018.
So, after the huge year that has been 2017…we’re preparing for an even bigger 2018! We’ve had a lot of positive feedback about our new offices in Botany Junction so if you haven’t already come in to say hi, we would love to see you in 2018!