David and Mark shared their insights from their experience in the accounting industry as Smithink winds down its activities with events and this final webinar. Lots of questions answered and many insights shared.

Presented By: David Smith & Mark Holton, Smithink

Key Takeaways:

Compliance is not enough

Firms need stronger capabilities, problem-solving, and communication if they want to stay competitive as automation increases.

Pricing needs regular testing

Client reactions are the most reliable indicator of whether fees are set at the right level.

Advisory must be structured

Advisory only grows when it has leadership, defined processes and consistent delivery rather than ad hoc enthusiasm.

Virtual CFO opportunities grow through better conversations

Needs reviews and deeper client discussions to uncover the issues that lead to higher value support.

Diversification requires discipline

Moving into services like buyer’s agency only works when skills, culture and independence are carefully considered.

Develop young accountants early

Retention and succession improve when firms invest in mentoring and leadership development long before promotion.

AI is reshaping workflows

Firms need to redesign processes, strengthen cyber security and prepare teams for more interpretive and client facing work.

Better resource planning reduces pressure

Clear allocation and forward scheduling help cut write-offs, improve recovery and maintain workflow stability.

Future growth comes from capability

Firms that cultivate strong engagement, clarity and learning cultures will outperform those relying solely on compliance.