As we prepare for AccountingWEB Live Summit in San Diego, May 9-12, we wanted to share with you some ideas about what it means to innovate for the future in this profession and we had the chance to meet one of our speakers, Reconciled CEO Michael Ly, to discuss.
It’s no surprise that technology dominates nearly every aspect of an accountant’s professional life, and keeping up with the pace of change has been daunting to say the least. Michael, a self-proclaimed “serial entrepreneur,” built his online practice solely on the premise that innovation should be a priority. In addition, using the right technologies and knowing what will impact the profession and the client companies he serves, were essential to the success of his business.
During our conversation, Michael touched on aspects of his solo session on Fintech trends accountants should pay attention to, as well as how he’s grown his business and, of course, what he’s most looking forward to. at the Summit and why you should be part of it. of this one.
One of the main things Michael shares about the importance of conferences, in general, is that his own firm’s vision and what it could be came out of an accounting technology event. He knows there are still so many businesses that haven’t fully embraced the cloud and automation and are choosing to do things in a more manual, unconnected way.
And as to the growing importance of fintech in the profession, he says: “In terms of accountants, where we see the movement on fintech is your customers, existing and potential customers, who access the products and fintech services. [services and providers] cloud- and app-based, and changing the way accountants interact. Think about interacting with traditional financial service offerings, accountants might provide compiled financial statements once a year for a bank because a client had a loan with them or applied for a loan, but that was pretty much almost everything. Now, the demand from customers is to have data accessible in real time in the cloud. They are able to share this data just like they do the accounting.”
Learn more about Michael in this video chat:
Want to hear Michael Ly speak live and in person? Join us in San Diego, CA, May 9-12, 2022, for AccountingWEB Live Summit, an all-new in-person conference and networking event for accounting professionals.
Hear from many industry experts about the future of accounting, learn about new financial technologies for the digital age, and attend CPE-accredited sessions to drive your business forward. After two years of confinement, you will be able to spend time meeting like-minded professionals to discuss tips, tricks and the challenges you face during informational breakfasts, networking lunches and a unforgettable off-site dinner. Learn more at https://www.accountingweblivesummit.com