Why Are Accounting Firms Still Lagging in Tech Adoption? In our previous article, we highlighted how accounting is shifting beyond compliance toward a more strategic role. Yet, digital transformation is where the sector risks falling behind. The reality is that the pace of digital adoption is far from uniform. While other industries have embraced automation and data analytics, accounting often remains anchored to legacy systems and siloed ways of working. This week, we want to find out: what’s holding accounting back from digital transformation? From cultural resistance to the complexity of integrating new technologies, we’ll unpack the challenges and highlight why people remain at the heart of digital transformation. Technology in accounting is moving fast but many firms still struggle…
Rooted Leadership: What Business Can Learn from the Natural World The modern business landscape pushes for relentless acceleration, propelled by an undercurrent of continuous innovation, rapid scaling, and an 'always-on' operational mindset. Leaders are under pressure to deliver continuous growth and chase new milestones which often inadvertently cultivate a "hustle" culture. However, this pursuit of acceleration exacts a heavy toll: employee burnout, resource depletion, and a struggle for sustained relevance. We have collectively fallen for the myth of endless productivity, believing that the more efficient our processes, the more work we can (and should) undertake. This mindset traps us in a loop of constant doing, neglecting the essential value of pause, renewal, and strategic timing. In contrast, the natural world…
TBP PHOTO: iStock Photo Now, who pops into your head when we utter the word 'entrepreneur'? Does your mind race through names like Steve Jobs, Jeff Bezos, Elon Musk, or Mark Zuckerberg? These are the experts who didn't just pique the world's interest, they reinvented the whole playbook of business. Indeed, they've reshaped entire industries and won us over with their ingenuity, giving us a fresh perspective on how we live, work, and connect. Let's ponder on this: How would you define an entrepreneur? Venturing into the thrilling world of business, entrepreneurs are often a sight to behold. Some believe this intriguing breed is born, crafted with an inherent drive that continues to burn brightly. Yet, there’s a different school of…
A Brief Overview of Accounting’s Evolution Accounting has always been central to business management, traditionally focused on recording and reporting financial transactions, providing essential compliance and monitoring capabilities. For much of its history, it was seen as a back-office function, holding valuable data without directly influencing collaboration or decision-making across the organisation. The first major transformation came with the rise of information technology (IT). Technological advancements and automation kicked off accounting's evolution, steering it from reliance on paper records toward becoming a robust data-driven discipline. These advancements improved accuracy, streamlined information, and reduced repetitive tasks, allowing finance professionals to shift their focus from routine processing to deeper analysis. This technological shift marked the beginning of accounting’s evolution from a passive…
The strategic value of accounting in business Accounting is often perceived as a back-office necessity— primarily to manage cash flow and for regulatory purposes. However, this limited view can be costly. Misconceptions about the role of accounting can lead business leaders to neglect financial oversight, increasing their risk of cash flow and compliance issues. Beyond simply transactional record-keeping, accounting can provide valuable insights to highlight operational inefficiencies, drive business growth and stabilise long-term financials. This article examines common misconceptions about accounting, challenging the belief that it is only relevant for large corporations or that profitable businesses can afford to deprioritise financial oversight. By tackling these five prevalent myths, we highlight how accounting is essential, regardless of the size, stage of…
