She also poses a great question when thinking about the future of your firm:

“Do you have systems in place internally that enable you to keep track of your processes, work flexibly, communicate from anywhere and still be able to build culture?” — Eileen Adao, Head of Accountant Channel, Collbox

The traditional office has all but vanished, so make sure you’re prepared with the right tools to continue operating—and don’t forget your company culture.

2. Preparing for the worst is the new normal

In 2020, many businesses weren’t prepared for the disruptions they faced. As an accountant, if you’re not setting your clients up for the same (or even worse!) situation as 2020, then you’re missing something critical.

Kathy Gregory, Director, Strategic Development and Engagement, LivePlan, predicts the unexpected:

“2020 was the year where small businesses and their advisors saw, for the first time in real-time, truly how important planning and forecasting is.”

For Kathy, 2020 was a harsh reminder for her, and many others, that preparing your clients for the worst is crucial.

With that reminder, Kathy expects accounting firms in 2021 to be actively planning for the worst—for their clients and their own businesses.

3. Client interaction to join the cloud

Cloud-based systems have undoubtedly enabled accounting firms to continue operating remotely. On the most part, teams have been able to successfully manage their workflows and collaborate internally.

Jim Buffington, Advisory Services Leader, Intuit Accountants predicts a step further in 2021:

Jim expects more automated client communication journeys using tools like Karbon’s Client Tasks, Zoom and Calendly, making the whole process more collaborative and seamless between firms and their clients.

4. People will (finally) see the true value of accountants

2020 was a tumultuous year, and for accountants, it was likely one of the busiest on record.

Firms worked around the clock to make sure their clients’ businesses could continue to operate as well as possible, that they could pay their staff and apply for the relevant subsidies.

For Kylene O’Connor Carse, Partner, BWCO CPAs, Inc., 2021 is the year of the accountant:

The next 12 months will be just as busy as the last, so, according to Kylene, expect recognition of your firm’s hard work as you navigate continued uncertainty and disruption.

Prepare, prepare, prepare

So, do these industry expert predictions resonate with you? Or do you have your own bold expectations for the next 12 months? Perhaps a combination of both?

Nevertheless, use this opportunity to go into 2021 with a sneak peak into what the experts are saying—and put your firm in a better, more prepared position to ride the next wave of uncertainty.