Tax Pros Aren’t Slow To Change, They Are Methodical Decision Makers

By Jorge Olavarrieta.

There is a longstanding stereotype that tax professionals are slow to change. In reality that could not be more untrue, and I am here to set the record straight.

Claiming tax professionals are slow to change doesn’t capture the essence of the industry. They aren’t slow or behind, they are methodical and thoughtful about the changes they make because of the huge potential impact a specific change can have on their clients and their business. If firms are taking steps to adopt new technologies or products, that counts as change – whether they fully transition to using it or not – they are putting in the work to see if it’s worth it for their clients and their firm.

Technology is one example of where the industry has clearly been an early adopter. Tax and accounting professionals were one of the earliest adopters of using computers and software to streamline compliance. I would also argue tax professionals were very early adopters of solutions to aid in managing the tremendous amount of documents and data within the office, utilizing document management systems that are now the norm across many industries. The thought of using technology to more effectively collaborate and exchange information through the use of portals was probably jarring for most clients, but with the reassurance of their tax professional, it became clear that it could make the process more efficient.

As a whole, the items above are just some of the examples of early adoption within the tax and accounting industry. Of course, when it comes to adoption there are firms who will jump on new technology or changes in processes first, and there are a few who take their time and test out products for months before making a decision.

The long-lived life of the profession through adoption of innovation and technology as things change has been a hallmark of a profession that has adapted and continues to thrive with a constant focus on client success.

All this to say, tax pros and accountants aren open to change, whether it be leveraging a specific product or moving to the Cloud, they are always testing new services to enhance their business and make their clients’ tax lives more simple. But that change has to come with a clear benefit, not just for their firm, but also for their clients. It’s also worth noting that every firm is different and moves at their own pace, but that doesn’t mean they are slow to change. It means they are thinking five steps ahead to how this will affect the overall wellbeing of their firm and their clients’ future. Once they are settled on that, they start to make the proper shifts if the benefits outweigh the costs.

My advice to tax pros who are feeling pressure to change – you don’t have to risk your entire business on something new. Look at it from all angles and explore products and services you can adopt at your own pace – you don’t have to dive into the deep end, but take the steps to get started. Be clear and specific on the benefit you aim to achieve, and begin taking steps to implement those changes within the firm. Learn from firms who have taken on the change in question, and seek their advice on procedures they followed, challenges they encountered, and best practices they put in place to help them transition.

Being thoughtful and methodical doesn’t mean slow, it is strategic. My advice to tax and accounting professionals…continue to be methodical decision makers. You can do that with speed and at scale, all you need to do is stay focused on the outcome you are looking to achieve, and take a step. Adopting new solutions doesn’t have to mean applying change to your entire business at once. Experiment and learn your way to scaling, but don’t fall prey to inaction.

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Jorge Olavarrieta is VP of Product Management and Design, Intuit.