At Elizabeth Eyre Ltd we have embraced change and we are excited about it. We are not only referring to recent changes in legislation, which we naturally keep ahead of, we are talking about changes to how the industry works. Automation and AI are heralding in new ways of doing business. Technology and the connected economy have redefined how we work. We have all understood this trend for the past 5 years, and we, after the initial denial, accepted this trend and embraced it; and we are so glad we have.
Our philosophy has always been having accurate, compliant and organised accounts as the bare minimum. If you can’t get that part right, you should not be in this business. The interesting part, and the area we bring most value, is allowing our clients to understand what that data means for their business and how they can use this information to their advantage. The data input, compliance and transactional services were necessary, but can be monotonous and dull. Now we have technology and systems that handle a lot of those we have the results quicker, and we are able to spend our time actually adding value to that data.
Instead of the doomsday scenario of having people done out of jobs, people can now be reskilled and put to work doing what machines cannot do, using judgment, problem solving, listening, empathy and adaptive processes in our work. Because we have embraced change, instead of contracting, we are expanding. Our team is growing and so is our client base. Our team are happy as they are more engaged and our clients are happy as we are flagging up issues quicker, we are able to listen to their needs and present their accounts in a way that helps their business best.
Clients are realising that automation and packages are good at pulling data together, however they are not the magic solution they are heralded to be. These packages are only as good as the information you feed them. Automation is not yet intelligent and we have clients who have come to us ‘in a mess’ as they have no way of making sense of the data. The packages have failed to pick up anomalies, trends or flag up potential problems.
Our team are trained and have the experience to use the data effectively. They know what to look for and how to deal with these situations. We also have more time to look at the future trends and to understand our industry and the global economy. There is so much uncertainty. Coupled with that, technology, AI and automation are radically changing the way we work and the way we structure work. Just within our own diverse customer base we can see that change has to happen and companies are going to need to be more adaptive, nimble and collaborative. In order to do that companies will need to have access to their current accounting data faster and in ways that allow them to make quick, intelligent and informed decisions.
This is what we, at Elizabeth Eyre Ltd are working towards. For us, this is what an accounting service has to be if it is to fulfill its mandate. To find out more about how we are applying this to our existing clients and how we can help you achieve your goals, give us a call on 01684 214900 or email us. We are always happy to chat.