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Who does tech best?

Who does tech best?

AccountantsDaily chatted with Mayflower Consulting director Sarah Penn to uncover the significant differences between accounting firms that are tech-savvy and those that are not.

Technology Lara Bullock 28 November 2016

Q: Looking at the accounting industry as a whole, what proportion do you think have got the tech balance right in their practice?

A: It’s all changing so quickly but I would say still only a small proportion are really embracing technology, probably 10 to 20 per cent.

If you're ... starting a new business, whether you're 30 or 50 or 70 it doesn’t really matter, but if you're starting a new business from scratch then you don't have processes and things in place yet. Then it actually is reasonably easy to start off with Xero, and start off with Class if you've got self-managed super funds, and use Dropbox for your storage and never have a printed file, and do online everything.

I run my business on my phone but I’ve only had my business for two and a half years. If I’d been running my consulting business for 15 years it might mean that things might look a bit different.

So I'd say maybe 10 or 20 per cent are really embracing technology and doing things differently in their business, and a lot of them [are] younger businesses.

Which doesn't always translate into younger people, it's