Using Technology to Increase Efficiency is the Number One Priority for Member Firms (PrimeGlobal)

January 18, 2023

This is a PrimeGlobal News article highlighting the importance of Technology to member firms from the results of the 2022 member satisfaction survey.

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Its survey time again at PrimeGlobal HQ which gives member firms the opportunity to let the Association know what they are most interested in, what has been done well over the last twelve months, and what you would like to see more of in the coming year.

In the 2022 Member Satisfaction Survey, almost 60% of member firms responded by saying that using technology to increase efficiency was the topic they were most interested in, and that this theme would provide the most value for the long-term future success of the industry.

Furthermore, the use of emerging technology and data to enhance client advisory services is also popular among members, with 46% of respondents citing this topic as the one that is of most interest when reviewing best practice among member firms.

PrimeGlobal Responds

PrimeGlobal responded to this information in typical fashion with technology very much at the heart of activity including shared discussions, peer-to-peer support, and thought leadership content, such as ‘Emerging Tech Trends by member firm Yeo & Yeo, a ‘Cybersecurity Checklist’ by Allen, Gibbs, & Houlik, and the wonderful success of TikTok sensation, Kira McKinney, Communications Director at Carpenter Box.

In addition, PrimeGlobal has formed exciting new business partnerships with firms such as Xero, the leading cloud-based accounting and business platform that provides accountants and their business clients with shared access to real-time financial data, as well as having a plethora of Technology based Alliance Partners to choose from, all of which can be found at our Technology Hub on the PrimeGlobal website.

Sharing Technology Knowledge at In-Person and Digital Events

In more insightful data from the 2022 survey, the ‘emerging technology / digital transformation –automation and advisory’ was the third most popular among Communities of Practice, coming only slightly behind Audit & Assurance and Consulting / Advisory services, with over 30% of respondents choosing this subject as the most interesting to them.

Throughout the year, PrimeGlobal has responded to this information by hosting a wide variety of Special Interest Group meetings and digital webinars, where members are encouraged to participate and share knowledge and best practice with like-minded individuals from member firms across the regions.

In addition, we are already looking forward to the Technical Forum, (formerly the Technical Conference), taking place in the beautiful city of Zagreb in March this year. To take part, and to sign up for any of our digital webinars you must have a user profile and be logged in to the exclusive member only part of the PrimeGlobal website.

What’s Next for Technology in Accountancy and Advisory Firms?

There’s no doubt about it, emerging technology will continue to underpin accountancy and advisory firms over the next twelve months, but rather than replacing it, automation will support the role of the accountant by improving efficiency and removing the burden of time-consuming workloads.

Cloud computing, Artificial Intelligence, Blockchain, and Cryptocurrency, will all become more appealing and more available, as accountancy and advisory firms seek to offer better security, improved time management, increased accuracy, and therefore, better value to clients across the globe.

So here at PrimeGlobal, we are looking forward to the latest results of the 2023 survey, and there are no prizes for guessing that once again, Technology will be high on the agenda for what matters most to our member firms.