The Upstream Leader Podcast Change is the Constant: The Reality Facing Accounting Today
17 snips
Jan 6, 2025 
Dan Hood, Editor-in-Chief at Accounting Today, shares his extensive insights on the rapidly evolving accounting landscape. He emphasizes the crucial role of technological advancements and the pressures of private equity investments. The conversation highlights the urgent need for continuous learning and innovative recruitment strategies to attract young talent. Dan also discusses the importance of strategic planning for firms facing the challenges of change and competition, underscoring that adaptation is essential for survival in this dynamic industry.
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The Biggest Challenge: Change
- The biggest challenge facing accounting leaders in 2025 is the accelerating pace of change.
- Firms must develop strong change management skills and adapt to unexpected shifts in every area of practice.
Increased Technology Investment
- Two-thirds of accounting firms plan to increase technology spending in 2025, driven by AI and capacity problems.
- This marks a significant increase from the usual 50% and highlights technology's growing importance.
Technology Management
- Larger firms should invest in strategic technology roles like CTOs to manage increased tech investments.
- Smaller firms should focus on turnkey solutions that require minimal tech staff.