Image depicting the latest business trends in 2017

Top Accounting And Business Trends Making An Impact In 2017

The world of accounting and business finance is changing rapidly in response to technology. Streamlined processes and digital accounting solutions have moved today’s businesses far beyond the realms of manual ledgers and reporting. In its place are far more efficient, productive way of doing business. In this blog post, we are going to focus on the key business trends driving success in 2017.

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A drive to connect customers

The world is a connected economy. Value is being created by building relationships and creating connections, whether it’s businesses connecting clients to content or to services. Customers are now looking for enhanced business relationships. The accounting companies that provide this will see the most success. In an interview with Accounting Today, Alan Koltin, Chief Executive of Koltin Consulting Group Inc. noted, “The successful firm of the future will deliver value-added services to clients and will have won the war for talent”.

Business and accounting firms that have expanded beyond just delivering financial statements and records and are connecting their customers with ways to plan for their financial success, will be the ones that thrive in 2017. Business trends they can implement include forecasting and financial management services that offer clients meaningful advice to their bottom line and growth.

Making the most of the millennial customer

Millennial customers are empowered by authentic content and meaningful relationships with their brands and service providers. Thirty-three percent of millennials rely mostly on blogs before they make a purchase. According to a leading study, 73% say it’s important to read others’ opinions before making a purchase.

One of 2017’s leading business trends is providing millennials with the content they desire. Businesses that provide personalized content are seeing a 20% increase in sales opportunities and a 42% increase in conversion rates.

Embracing on-demand business models

One of the biggest business trends is the rise of mobile business devices and apps. Opening up a web page is unnecessary when customers can connect instantly via apps. More and more customers are favoring financial apps over websites. Firm-branded apps align clients more closely with the business offering them.

Mobile devices also allow businesses to provide their clients with real-time information immediately, whether they are in the office or on the road. Forward-thinking companies are giving their employees mobile devices to work outside the office and even in their clients’ premises.

Leveraging the latest technology

Technology is changing the face of business. Companies are using new online payment options like Square, Bitcoin, and Apple/Google payment options that all have an edge over their competitors. Cloud-based accounting technology gives accountants access to real-time data and financial information anywhere and anytime. Business are embracing digital marketing solutions like ClickMeeting and Huddle, and communication tools like Slack, to instantly and seamlessly communicate with their clients and give them the expertise they are looking for.

Enterprise Resource Planning (ERP) systems make data and business information available through a central database, giving finance teams the full picture of how their business is performing at any given moment. Financial functions like bookkeeping, payroll, billing, and reporting can all be performed on a secure website. All a financial professional or business owner has to do is login to access all of their digital accounting records – which has huge cost and time-saving advantages.

Companies like Easier Accounting are already putting the very latest business trends and accounting solutions into practice, offering flexible online accounting services that help businesses improve productivity and enjoy significant cost and timesaving advantages.

For more information about the top trends affecting the business and finance world in 2017, download our guide:

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