Complete blog post, infographic, video and event details: http://bit.ly/UKacct6

2. Findings from Intuit’s ‘The Changing Role of Accountancy’ study
 Includes feedback from 100 accountancy firms and 200 SMB’s
across the UK
 The study demonstrates the need for British accountants to
wake up to the cloud or risk losing clients
 Research was conducted by Coleman Parkes in September
and October 2013

3. Download the infographic
http://bit.ly/UKacct6

4. The Technological Divide
There is currently a technological disconnect
between what SMBs want, and what their
accountants are offering.

5. The Technological Divide
of SMBs believe accountants need to:
60%
•
•
increase their skill set and modernise their brand
update all their accountancy software move to the cloud (nearly all SMBs believe cloudbased accountancy solutions have to happen, and all are willing to pay for it)
SMBs
61% of accountants’ clients call for a
cloud-based solution….
UK SMBs are advocates of cloud-based
services and cite many advantages. 8 in
10 agreed the cloud would streamline
their services, improve efficiencies,
provide better service and more strategic
services
Cloud-based accountancy software is a
development area – accountants believe
it would allow them to be more mobile
(72%), keep them ahead of the
technological curve (72%) and would
update their software (66%)
88% of SMBs believe the cloud will
enable them to work more closely with
their accountant and develop the right
relationship
85%
Accounting Firms
…a little over a third (37%) of
accountants could furnish this request
Main barriers in moving to the cloud are
centred around security concerns. Inertia
seems to prevent 70% of accountancy
firms moving to the cloud and cost is low
but still a significant barrier to 56%
of accountants in the survey said technology gave more opportunity to new market entrants

6. Adding Value
The accountant’s role is evolving and becoming more
important to small businesses across the UK.
Over the past five years it has shifted significantly from
‘Number Cruncher’ to ‘Financial Advisor/Consultant’

7. Adding Value
Small businesses in the UK also support this shift as they say they have
seen their accountants take on a more financial adviser/consultancy role:
5 years
ago
Today
Looking
Ahead
70% of SMBs perceived their accountant as a number
cruncher, while 34% thought they were more of a financial
consultant and 28% considered them a business consultant or
advisor
54% of SMBs label accountants number crunchers, 69% see
them as financial advisors and 34% think of them as business
consultants or strategic business advisors
62% of SMBs think accountants will be more like financial
consultants, with only half still seeing them as a service that
deals purely with numbers

8. Adding Value
To remain competitive accountants are diversifying their portfolio of
services and updating their software.
50%
…are repositioning themselves in the market.
They perceive technology as the key to doing this.
84%
…of small businesses want their
accountant to be their CFO

9. Revenue Opportunities
The changing demands of SMBs has
demonstrated that there are ample revenue
opportunities for accountants

10. Revenue Opportunities
Opportunity…
…Missed
More than seven in 10 (71%) accountants business would receive a boost if
clients used technology more effectively, and 67% said new innovations would
help small businesses compete with bigger firms
A large proportion of accountants are failing to provide
additional services. While 81% report a demand for
project financing and reporting, just 36% currently offer
such a service
65% of SMBs have an immediate need for business advice while 31% believe it
will be important in the near future. Only 4% didn’t perceive a need for it at all
82% of SMBs believe accountancy firms need to be more proactive in developing
services and will be looking to work with an accountant that can provide them
with online or web-based accounting services…
…And a further 68% believe non-accountancy firms will be
left behind
The majority of small businesses are prepared to pay for the additional services
including: 65% business consulting advice; 72% project financing and reporting;
58% would pay for cloud computing…
… despite only 37% of accountants who could see how
providing this technology would help make them money

11. Further Information
1.
Press Release
bit.ly/CloudStudy13
2.
Video
http://bit.ly/Cloudv
3.
Infographic & blog http://bit.ly/UKacct6
About Intuit in the UK
Intuit in the U.K. helps small businesses get paid, manage
their money and pay their employees, and accounting
professionals be more productive and grow their practices.
The company’s flagship products in the U.K. include
QuickBooks, QuickBooks Online, QuickBooks Payroll and
Intuit Pay. For more information visit www.intuit.co.uk
Contact
Tariq Ahmed, Head of Communications, Intuit Europe
tariq_ahmed@intuit.com +44(0)20 7824 0002