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If You're an Accountant, Maybe It's Time to Go Solo

Updated on May 20, 2019
Sarah Vallory Draper profile image

Sarah V. Draper is a professional copywriter and freelance investigative journalist whose passion is communicating with the world.

I have always been one to support anyone who wants to start their own business.

With the proliferation of automated accounting services has come the restructuring of and even loss of accounting duties across many sectors.

This is a perfect time for accountants to start thinking about developing their own online accounting services.

In a recent report from Accounting Today, one-third of accountants have been placed in other positions other than what they went to college for.

On the higher end of the spectrum, 26 percent have moved to HR positions, while another 20 percent have moved to sales and/or marketing.

Another reported six percent went into IT.

Either you can be one of those who simply shifted into another type of work, or you can take control of your own destiny and launch your own accounting startup.

I went and did some research to see what would work best for those who have little entrepreneurial expertise, and this is what I came up with.

Take Time to Learn More About SAP Accounting Software

First things first: in order to understand where you would like to be in the world of accounting startups, you should gain a complete understanding of the leaders in the industry.

No one can argue against SAP as being one of the industry’s top leaders in creating Accounting software and services.

There are plenty of online courses that offer all the knowledge about SAP Financial Accounting there is to know.

From there you are able to build on your dream.

Cloud Accounting Startup

The word "Cloud" or the phrase "Cloud Computing" is not simply some sort of tech jargon used to get people's attention.

The Cloud is real, and it is reshaping so many industries out there.

One of those industries sees the greatest that Cloud technology has to offer is the accounting industry.

Now think about it: those who are great accountants and at the same time can harness the power of Cloud technology are at a very powerful advantage.

I know from first-hand experience that many accounting students and professionals just aren't aware of the many possibilities out there outside tax and audit work.

Nevertheless, according to the AICPA, there are many, many options out there.

Accountants don't have to worry about where their job stands if they begin to look outside the box.

Startups like Kauffman Rossin are great examples of awesome cloud based accounting startups that have shown the rest of us that it’s possible.

And when it come to Cloud based accounting services, there is a lot more you will be able to get into other than the old boring stuff.

That’s what makes this startup choice pretty awesome.

Accounting IoT Software

The Internet of Things hasn't only been changing how we interact with our homes and automobiles, but it also has a direct effect on the accounting industry.

Real-time data helps accounting firms keep better accurate details of their clients' data.

When you combine IoT and Cloud Analytics together into one accounting package, you have a winning combination.

And, yes, there is a difference between the two.

These two technologies feed off one another, and though one may be able to technically operate without the other, its functionality would be greatly crippled.

It is the Cloud that has become the answer to the Big Data problem caused by the Internet of Things.

Thus, if you’re someone who is seriously interested in launching an internet-based accounting solution, it might be a good idea to learn a great deal about both aspects.

And with companies preferring to employ outsourced accounting more and more these days, it would be time well spent.

Wrapping Up

Today, countless people are being empowered by technology. If you have a talent such as accounting, you can take that skill and easily build your own business.

According to the U.S. Bureau of Labor Statistics, in 2015, around 15 million Americans were self-employed. That's nearly 10 percent of the population.

In an article published by the New York Post:

" .... this revolution in how Americans work will only grow over the next few years.

“Climbing the corporate ladder is no longer the American dream. Over the last few years a significant mindset shift has taken place and with it has emerged a workforce which values flexibility over stability,” the article said.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2019 Sarah Draper


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