{"id":294499,"date":"2025-06-15T07:48:49","date_gmt":"2025-06-15T07:48:49","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/accounting-firms-seeing-increased-profits\/"},"modified":"2025-06-15T07:48:49","modified_gmt":"2025-06-15T07:48:49","slug":"accounting-firms-seeing-increased-profits","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=294499","title":{"rendered":"Accounting firms seeing increased profits"},"content":{"rendered":"


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<\/p>\n

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Accounting firms are reporting bigger profits and more clients, according to a new report.<\/p>\n

The report<\/u><\/a><\/ps-link>, released Monday by Xero, found that nearly three-quarters <\/b>(73%) of firms reported <\/b>increased profits over the past year and 56% added new clients thanks to operational efficiency and expanded service offerings.<\/p>\n

Some 85% of firms now offer client advisory services, a big spike from 41% in 2023, indicating a strategic shift toward delivering forward-looking financial guidance that clients increasingly expect.<\/p>\n

AI adoption <\/b>is also reshaping the profession, with <\/b>80% of firms confident it will positively affect their practice. Currently, the most common use cases for AI include: delivering faster and more responsive client services (33%), enhancing accuracy by reducing bookkeeping and accounting errors (33%), and streamlining workflows through the automation of routine tasks (32%).<\/p>\n

“The widespread adoption of AI has been a turning point for the accounting profession, giving accountants an opportunity to scale their impact and take on a more strategic advisory role,” said Ben Richmond, managing director, North America, at Xero, in a statement. “The real value lies not just in working more efficiently, but working smarter, freeing up time to elevate the human element of the profession and in turn, strengthen client relationships.”<\/p>\n

Some of the main challenges faced by firms include economic uncertainty (38%), mastering AI (36%) and rising client expectations for strategic advice (35%).\u00a0<\/p>\n

While 85% of firms have embraced cloud platforms, a sizable number still lag behind, missing out on benefits such as easier data access from anywhere (40%) and enhanced security (36%).<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Accounting firms are reporting bigger profits and more clients, according to a new report. The report, released Monday by Xero, found that nearly three-quarters (73%) of firms reported increased profits over the past year and 56% added new clients thanks to operational efficiency and expanded service offerings. Some 85% of firms now offer client advisory […]<\/p>\n","protected":false},"author":1,"featured_media":294500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11759],"tags":[12843,13085,29605,2595,10918,26956,12688,565,13014],"dealstore":[],"offerexpiration":[],"class_list":["post-294499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","tag-accounting","tag-artificial-intelligence","tag-business-development","tag-cas","tag-firms","tag-increased","tag-practice-management","tag-premium","tag-profits"],"yoast_head":"\nAccounting firms seeing increased profits - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=294499\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Accounting firms seeing increased profits - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Accounting firms are reporting bigger profits and more clients, according to a new report. 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