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Expert RoundUp - Top Accounting Industry Trends In 2020

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Expert RoundUp - Top Accounting Industry Trends In 2020

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The accounting industry is everchanging. ACE reached out to the top industry professionals to know their views about the top industry trends that will impact the accounting work in 2020.

The accounting industry is everchanging. ACE reached out to the top industry professionals to know their views about the top industry trends that will impact the accounting work in 2020.

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Expert RoundUp - Top Accounting Industry Trends In 2020

  1. 1. Ace Cloud Hosting Expert Roundup – Top Accounting Industry Trends in 2020 Ace Cloud Hosting
  2. 2. The Constantly Changing Accounting Industry The Accounting Industry, like any other, has been changing and evolving over the past few years.  Many new trends such as - cloud computing, machine learning, artificial intelligence, etc. have been transforming the way this industry works.
  3. 3. Accounting Trends in 2020 : Expert Opinion Ace Cloud Hosting reached out to five industry experts to get their views on the top accounting trends that will dominate the accounting industry in 2020 and their future implications on the working of the industry. Let us have a look.
  4. 4. Mike is one of the highest-rated instructors in the nation on the topic of financial management for small business owners. He has built or helped build multiple companies from the ground by transforming ideas into multi- million dollar enterprises. Follow him on social media:  and Mike Milan1. LinkedInTwitter
  5. 5. The accounting firm as a brand. Defining a client migration strategy. An increase in financial education." "The accounting industry is already shifting its focus from short term project-based interactions to more fruitful long- term customer relationships. The latest trend is offering more advisory services.  Here are three things I see happening and expanding. 1. 2. 3.
  6. 6. Jasen has been in the tax and accounting industry for over 20 years and is responsible for setting training and education strategies at Intuit. He is a thought leader, writer, and speaker on the 4th industrial revolution and AI’s impact on the profession. Follow him on social media:  and 2. Jasen Stine LinkedInTwitter
  7. 7. "Automation and workflow efficiency have been leading trends for quite some time now. And, we will see an acceleration of innovation around this in the coming years, especially 2020. Integrations will allow for increased productivity, enabling accounting and tax firms to automate their compliance work and spend more meaningful time with clients to help them reach their goals."
  8. 8. Randy is one of the partners at K2 Enterprises. In his role at K2 Enterprises, Randy helps create and deliver technology-focused training to business professionals throughout North America. Follow him on social media:  and 3. Randy Johnston Twitter LinkedIn
  9. 9. "This year of 2020 is a trend breaker, with so many professionals forced to work remotely because of COVID-19 stay at home orders. While we expected emerging technologies like artificial intelligence (AI) and machine learning (ML) to dominate the technology adoptions this year, business disruptions have changed our minds. This 'new normal' makes us focus on the probable trends for 2020, which include: security issues, advisory services, and compliance services."
  10. 10. Gary DeHart has worked in media for more than 25 years and has been instrumental in developing new revenue streams and business opportunities for the companies he has worked for.Prior to launching Insightful Accountant (formerly Intuitive Accountant), Gary was the Associate Publisher of Accounting Today. Follow him on Social Media:  and 4. Gary DeHart Twitter LinkedIn
  11. 11. "I believe we’ll continue to see increased competition for QuickBooks, especially for the mid to large user segment, while QBO continues to gobble up the small market. General Ledger developers are acquiring more of the key solutions in the ecosystems that surround them. Increased pressure on small accounting firms to provide more comprehensive services for their clients – Advisory Services, Client Accounting Services, Outsourced Back Office."
  12. 12. Cyrus Vanover, MBA, is a financial copywriter who has written for companies of all sizes. He is also the author of the personal finance book, “Earn A Debt- Free College Degree.” His goal is to help families save money, make more money, and achieve financial independence. In addition to that, he runs a personal finance blog called Frugal Budgeter. Follow him on Social Media:  5. Cyrus Vanover LinkedIn
  13. 13. "1. Increased adoption of cloud accounting software. 2. Increased use of a remote accounting workforce. 3. Increased emphasis on data security. With the world currently embraced in the coronavirus pandemic, many employers are telling their workforce to stay home and work remotely. This trend will result in increased adoption of cloud accounting software, allowing accountants to access information and work from anywhere."
  14. 14. Wrapping Up Technology has been changing over the years and successful accounting firms are adapting to this change. It has now become essential to train your team about the latest accounting and technological trends in order to boost work productivity.
  15. 15. About Us Ace Cloud Hosting is a managed cloud hosting provider and specializes in the accounting, tax, retail, and construction industries. We offer on superfast SSD-based servers with 99.999% uptime, 100 days data backup, and always-on support. To know more, please visit or call us at 1-855-ACE-IT-UP www.acecloudhosting.com cloud hosting solutions
  16. 16. Catch us on Social Media
  17. 17. References Expert Roundup – Top Accounting Industry Trends in 2020 - Ace Cloud Hosting Checklist: How To Choose A Cloud Provider - Ace Cloud Hosting

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