According to the latest CommBank Accounting Market Pulse report, around nine in ten Australian firms are seeking to add or grow new service lines and further embed their role as multi-disciplinary professional advice practices.
Accounting firms are also responding to a greater client need for flexibility around billing, with an expected decrease in time-based billing across the industry. Instead, firms have indicated an increase in the use of fixed and value-based fees and retainers.
As accountants adapt to these structural changes, they also hold a positive view on future business conditions with the research revealing a rebound in confidence across the industry. This is also reflected in a bullish outlook for revenue growth for the vast majority of firms.
CommBank’s focus on delivering deep industry insights can help your firm’s strategic planning and prepare for future changes to the competitive landscape.
To find out more or download the newly launched edition of the Accounting Market Pulse,please CLICK HERE
Marc Totaro | National Manager, Professional Services, Business and Private Banking
- Confidence rises as accountants seek new revenue streams - 18 June 2018
- CommBank Professional Services Insights – Feb 18 - 8 March 2018
- CommBank Business Insights Report: Professional Services - 2 July 2017