Automation: Putting Accounting on the Right Path

Looking strictly at the bottom line, we should be in the midst of a golden era for the accounting industry. Demand for accounting services is more robust than ever as tax rules get more complicated and compliance requirements grow more mission critical every day. Accounting firms are traditionally among the more profitable small businesses, and revenues at the Big Four U.S. accounting firms have risen steadily over the past decade.

Still, media reports show that the accounting industry is struggling on several fronts. There’s a nationwide shortage of accountants. CPAs are leaving their jobs in unprecedented numbers, and baby boomer accountants are retiring, leaving firms short on talent to handle all the work that keeps flowing in.

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