Over the past year we’ve been seeing a big push in the articles into the quantum shift from ownership to usership. Ownership is dead, seems to be the common themes.
Research is showing that less people want to own things, and are more comfortable with using them on a temporary basis. It’s not surprising that global car sales are down, newspaper sales are down, movie sales are down, CD sales are down. We can see corresponding entrants that have enabled temporary use of resources for each of these areas: Uber, online news, Netflix and other streaming services, music subscriptions.
At the periphery we’re watching Marie Kondo take the world by storm, the tiny house movement seems to be taking a hold.
And Millennials are the most connected generation in the workforce ever, which means the trend is likely to continue. This likely means millennials are not only not going to want to work a full time gig, but when they do setup their accounting firms, they are unlikely to be resourcing full-time resources which need to be trained and managed, but instead looking for resources on demand.
This quantum shift means the future of compliance isn’t necessarily an AI automation story, but it will continue to be an offshore labour story. And within that offshore labour story, millennials (and the next generation) are going to be looking for resources on a usership basis, which means matching the client’s job request with an offshore suppliers ad-hoc service.
Subscription and ad-hoc services providers are the future, and your business model has to be built to deal with the new future.
Why does this matter at all to any of the Gen X and older generation. Well, at some point in time you’ll be looking to sell your accounting company, and an accounting company with legacy systems, legacy culture, legacy staff, and legacy thinking, it’s going to not attract top dollar.
Need help with outsourcing some ad-hoc jobs. Talk to the Odyssey today!