Here at Spotlight Reporting we are at the forefront of business advisory transformation each and everyday in our work with accountants wanting to do more valuable strategic work with their business clients. Our business insights tools allow accountants to easily report on the financial performance of their client’s companies, and look well into the future, for smart decision making along the way.

The accounting industry is undoubtedly undergoing significant transformation, and our latest Global Advisory Trends report, released mid last year, showed advisory trends is a massive area of growth. This backed by 56% of accounting firms surveyed, saying they want to do much more advisory service.

A majority of firms now report that at least 30% of their fees come from advisory services.

However, we can see 40% are indeed looking to grow to having up to 50% of their revenue coming from advisory services.

During the pandemic, firms were forced to adopt new technologies, improve operating procedures, and adopt more flexible working options. On top of this, the narrative that technology was going to steal the accountant’s job gave way for the rise of the agile and available accountant, with advisory services more important than ever.

Firms that have continued to build client relationships, maintain open and regular communication, and embrace change are the firms that are reaping the rewards.



The report showed that technology isn't our competition, it's our essential collaborator. Advances in technology present huge opportunities and advantages for those willing to embrace change. Technology has improved the efficiency and accuracy of traditional compliance work, with those that have adopted solutions able to identify and exploit opportunities to their advantage.

Advisory is here to stay, giving a competitive edge to those bold and willing, and those that have setup automation within their practices to allow for the human resources to execute this valuable new service offering.

Throughout the pandemic, many clients reached out to their accounting partners for extra assistance to get through difficult times. Now, faced with economic hardship and uncertain futures, they need help more than ever. With inflationary pressures, political unrest, and the cost of living crisis, SMBs globally have multiple challenges ahead.

Accounting firms that offer a diverse range of services and adapt to the needs of clients are those that are not only reaping the rewards but making a significant and positive impact for their clients.

Our first report was released in 2021, and to take a look back in time, the two key themes from the 2021 report were the war on talent, and the variety of service lines. Throughout 2022 we've seen leading firms embrace these challenges and capitalise on opportunities available.

Where people have not been available to fill vacancies, entrepreneurial firm owners have looked at how they can outsource, automate or solve the issue differently.

For instance, a number of firms who struggled to find talent, took to outsourcing, with many positive impacts. Those who were reluctant to offer more flexible work options are now forced to do so. Firms with strong brands, that have embraced technology and offer flexible working environments, continue to set themselves apart. While the great resignation had its time, we see the emergence of a true modern practice.

Luke Smith

Account Manager

Spotlight Reporting

0466 168 627

luke.smith@spotlightreporting.com