Bill Sheridan, Chief Communications Officer at the Maryland Association of CPAs, shares insights on why CPA firms must adapt to thrive. He emphasizes that as technology automates compliance, firms need to pivot toward client advisory services to meet changing client expectations. Sheridan warns that neglecting client relationships is a greater risk than automation itself, drawing parallels with bad customer service in retail. He advocates for a focus on interpersonal skills and proactive leadership as essential for future success in the accounting industry.
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insights INSIGHT
Evolving Client Expectations
Client expectations are changing, demanding more than compliance.
CPA firms must embrace advisory services to thrive in this evolving landscape.
question_answer ANECDOTE
Amazon vs. Retail
Amazon's success wasn't about technology; it was about customer service.
Similarly, CPA firms must prioritize client relationships, not just technology, to stay relevant.
volunteer_activism ADVICE
Anticipate, Don't Just React
Don't just keep up with change; anticipate it.
Dedicate time to analyze trends and adapt your services accordingly.
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Mike Walsh's "The Algorithmic Leader" examines the profound impact of artificial intelligence on the future of work and leadership. The book explores how leaders can adapt their strategies and skills to thrive in an AI-driven world. Walsh provides practical advice and frameworks for navigating the challenges and opportunities presented by automation and algorithmic decision-making. He emphasizes the importance of human-centric leadership and the need to develop new skills to complement AI capabilities. The book offers a roadmap for leaders to build resilient and adaptable organizations in the face of technological disruption.
The 90-Day Marketing Plan for CPA Firms
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Bill Sheridan, chief communications officer at the Maryland Association of CPAs, believes CPA firms must embrace change to stay competitive. As technology automates compliance work, firms that focus on client advisory services will be the ones that thrive.
“Our clients’ expectations are changing, and they are looking for more than just traditional compliance services,” Sheridan says. “The firms that recognize this shift and focus on client advisory services will be the ones that thrive.”
Sheridan emphasizes that while automation is transforming the accounting industry, it is not eliminating the need for CPAs. Instead, it is creating opportunities for professionals to enhance their roles.
“Technology isn’t the biggest threat to CPA firms,” Sheridan explains. “The real danger is failing to prioritize client relationships.” He drew a powerful comparison to the retail industry: “Amazon didn’t kill retail—bad customer service did. The same applies to CPAs. If we stop being client-focused, we’ll become irrelevant.”
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