Discover how Pixie's accounting software helps remote teams overcome communication barriers. Streamline collaboration, improve efficiency, and...
5 Biggest Trends to Come Out of Accountex 2023: The Game Changers This Year for Your Accounting Practice
Stay ahead of the curve with the biggest trends from Accountex 2023. Explore game-changing strategies and technological advancements shaping the future of accounting practices.
Missed out on Accountex? No worries, we’ve got the inside scoop from the largest accounting and bookkeeping industry show in town.
Whether you missed the axe-throwing extravaganza (yes, that actually happened!) or the whole event, we’ve got you covered. Let’s take a moment to recap Accountex London, May 2023 – an exciting showcase that lived up to its reputation.
As the premier industry expo, it didn’t disappoint. We were there, proudly unveiling a new era for Pixie with the launch of our new platform and its array of new features. Take a moment to read about it here, and don’t be surprised if you find yourself as thrilled as we are.
Our booth drew a crowd of curious and dedicated fans, validating the demand for a practice management software that actually listens to and delivers what small practice owners want.
But that’s not all. The event featured top industry names and thought leaders, bringing together accounting professionals from across the country to share insights and experiences. It was a fantastic experience for us!
To help you stay updated on the pulse of the accounting world, we’ve gathered the most compelling trends shaping the future of the profession.
Get ready to discover game-changing strategies, technological advancements, and client-centric approaches that are redefining accounting practices in the UK and beyond.
1. Eye on AI for the next big thing
Accounting firms across the UK are embracing cutting-edge technologies like artificial intelligence, machine learning, and automation.
These powerful tools are revolutionising the industry by automating mundane tasks and enabling accountants to focus on strategic and advisory roles.
At the forefront of this transformative discussion, we proudly introduce Pixie Co-Pilot as a pivotal component of our revamped Pixie launch.
Brace yourselves, because it's a true game-changer.
When your clients submit requests, this remarkable AI capability springs into action. Co-Pilot swoops in, meticulously analysing the email and devising the optimal response strategy. It's like having a personal assistant working quietly in the background, handling the heavy lifting on your behalf.
With deep integration into the Pixie system, Co-Pilot diligently hunts down the necessary documents you require.
Once all the relevant information is at hand, Pixie Co-Pilot drafts a response. But here's the best part: you retain full control. You have the final say in sending the response as-is or making any necessary modifications.
It's time to elevate your accountancy game to unprecedented heights.
Discover more about this groundbreaking feature in Accounting Web's riveting story. We're delighted to be part of this invigorating conversation.
2. Everyone is calling out for technology consolidation.
At the end of the day, simplicity is key.
Having all your essential apps conveniently located in one place eliminates the hassle of jumping through hoops to get your job done.
Pixie is right on track with that mission, choosing Accountex as the perfect platform to unveil our latest version of Pixie.
It was time to elevate our capabilities to the next level, fuelled by the invaluable feedback from our 3000+ customers. We listened attentively to their top improvement requests and made it happen.
Now, you can enjoy an array of enhanced features all in one place, making practice accounting software a breeze. Your requests were heard, and we delivered.
The insights shared by esteemed leaders at Accountex, including Frances Kay, Carl Reader, and Will Farnell, resonated deeply with us. They agreed that automation and accounting software tailored for accountants are increasingly vital in today's landscape.
3. Data analytics front and centre.
The Fintech Innovation Showcase quickly became a highlight for us.
Among the captivating talks, we couldn't help but appreciate the insights shared by visionary leaders like Mark Edmondson, CEO & Founder of Inflo, whose focus on AI and analytics struck a chord with us.
In the UK, there is a growing demand for data-driven insights.
Accountants are expected not only to handle traditional auditing and reporting duties but also to interpret and analyse financial data to provide strategic advice.
This is precisely where we find immense satisfaction.
Much of our new Pixie software for accountants revolves around harnessing the power of data to drive performance. One of the highly sought-after features in Pixie, pushed for passionately by our customers, revolves around tracking profit potential in clients.
These cutting-edge features simplify the process of monitoring clients' financial health, allowing you to effortlessly identify those in the red or the black.
Additionally, they provide valuable insights into the time your staff invests in delivering services. Armed with this data, you can make informed decisions on which services to prioritise in your sales efforts and which clients warrant additional attention and investment of time.
4. Sustainability and ESG reporting.
The UK has been at the forefront of global efforts to mandate businesses to disclose their environmental, social, and governance (ESG) performance.
As regulations surrounding ESG disclosures become more rigorous, UK accountants are poised to assume an increasingly crucial role in auditing and ensuring the accuracy of these disclosures.
At Pixie, we are closely monitoring this evolving landscape.
It's evident, both within our system and through conversations with our valued customers, that there is a growing demand for such services.
The need for accountants to navigate the intricacies of ESG reporting and provide assurance is steadily rising, and we are committed to supporting them every step of the way.
5. Remote work and digital collaboration
The pandemic has brought about a significant shift in work dynamics, leading many UK firms to embrace hybrid or fully remote models.
This transformative change is set to continue shaping the accounting industry, influencing both workforce management and client services.
Granted, we may have bid farewell to the nostalgic notion of casually dropping by a colleague's desk for impromptu brainstorming sessions. However, let's be real. Maintaining clear lines of communication and ensuring effective staff oversight can still be challenging.
The new version of Pixie help you do just that.
It’s funny how things work. Just when you need it most, technology emerges to facilitate the desired outcomes.
It almost feels like a serendipitous match between us, doesn't it?
This latest iteration of Pixie is purpose-built to address the very challenges you face in maintaining seamless communication and efficient staff oversight. Together, we can make it happen.
Join the Pixie Community.
Here's the thing: you don't have to shoulder the burden all by yourself.
Whether you're managing a team of 3 or 300, it's worth taking a closer look at Pixie.
When was the last time you took a moment to assess your business and confidently declare, "Yep, I've got this covered"?
Pixie is here to empower you, providing the tools and support you need to streamline your operations, enhance collaboration, and achieve greater peace of mind.
With Pixie by your side, you can focus on what truly matters – driving your business forward and embracing the good times that lie ahead.