Most accounting firms know they need to transform to remain relevant in the face of automation and commoditization of many core services. But many mistakenly optimize instead.
Bringing in technology to optimize what your firm already does isn’t the same as transforming your business and won’t help you to do so.
Optimization is about improving efficiency and effectiveness. It’s how your firm does what it does. Transformation is more about making a dynamic change to the way your firm allocates and deploys resources to gain better returns. It’s a shift in what your firm does.
To truly transform a firm’s business model, leaders need to focus on digging deeper.