Needless to say, most tax, accounting and financial practices are under intense competition. While outsourcing has many benefits, most practices are pressured to do more with less. Tax accounting used to be something that was considered as a “local” expertise and therefore protected from “outsourcing”. However, in this borderless world that we live in has given birth to opportunities and technology headaches at the same time.
So how does a small business/accounting practice compete? Considering that millennials are becoming the consumers of the future and are “always on”, “always connected”, demand answers instantly, how does a traditionally “closed” practice as tax accounting stay relevant to their customers of today and tomorrow? How do they market to millennials? How do they engage with them all year long? How do they make this customer “sticky”?