Lifelong learning will power accountants' prosperity now and in the future, says Intuit's Jolawn Victor.
Lifelong learning is the key to prospering in the accounting space, particularly given the current and future changes the industry is seeing from the rise of the fourth industrial revolution.
Accounting firms of the future need to equip themselves with the necessary skills to be able to tap into ever-evolving technologies, set their practices apart and ensure their success. Here are four ways that accountants can continue to learn and access the skills they need in order to succeed:
Watching video tutorials
Video tutorials are a great way to learn about implementing the latest technologies as they make information more digestible and easier to understand. In fact, studies have shown that the average viewer remembers 95 percent of a message when it is watched, as opposed to only 10 percent when read*. It’s unsurprising then that more and more companies are creating video content for their particular target audiences and posting these on platforms like YouTube.
Attending industry events
It might seem counter-intuitive to spend a day out of the office (and potentially miss out on earnings), but the knowledge that can be gained from attending industry events is priceless. Often, these events feature some of the brightest minds in business who can share their experience and predictions for the future – empowering attendees with the knowledge to make better decisions for their businesses going forward. These events are also the perfect opportunity to learn from others in the industry who have already begun harnessing technologies to enhance their business and better service their clients. Some events host speakers from seemingly unrelated industries like social media and marketing experts, but who can share how technologies shaping those spheres can help accountants stand out from the crowd.
Getting savvy over social media
More and more resources are being shared over social media platforms by organisations involved in the accountancy space, including those that are disrupting it with new technologies. These platforms enable accountants to engage with new information but in a setting with which they are familiar.
Explore online articles
There is a wealth of information out there on how to harness today’s and tomorrow’s technologies to ensure future success. QuickBooks, for instance, offers an entire website – Firm of the Future (www.firmofthefuture.com) – crammed full of articles with expert advice and next steps for today's accountants. Having this kind of information at their fingertips makes it easier to implement these technologies and gear their practices up for greatness.
Remember: If you are not continually learning, you’ll be left behind.