It seems more disruption is on the horizon, though of course some days it feels like it is changing faster than others. We’ve already been told the accounting graduates of 2017 are not like they used to be, and there are plenty of stories about what is important to new graduates. Not only is it important to find out what …
The slow fuse of Australian Accounting and Taxation Compliance disruption
There must be many out there questioning where all the promised disruption is. Sometimes it seems like a slow burning fuse. Everyone seems remarkably focused on disruption, and new business models, that it’s a bit like peering at the dawn waiting for the impending attack. Anyone who’s actually stared at the dawn light knows that dawn isn’t punctual, and can …
Australian Accountants have big problems: Disruption hits hard in professional services.
We live in interesting times, but there is no denying disruption over the past 20 years since the internet and email burst onto the scene. Uber, Airbnb and Xero have been around for over a decade, and yet at the same time we still have rampant use of desktop bookkeeping and accounting software here in Australia. A little over a …
The future is online (and offshore) for Australian Compliance…
There was an interesting article in the Australian online news recently that a few years ago would have been scoffed at without further thought. The article was titled: “Is coding the blue collar job of the future?” and suggested that using the analogy of the building industry, we not only need architects and engineers and designers but also a lot of …
Blockchain DLT option to replace CHESS
In the press last week was more about the changes about to affect the CHESS System. As reported, the Australian Securities Exchange (ASX) has moved further down the track in developing a post-trade settlement system that will eventually replace the incumbent CHESS (Clearing House Electronic Sub-register System), and a blockchain-based system remains the front-runner. We’ve certainly been mentioning the disruptive …
NPP Disruption in real time payments coming this year…
Well this is the year when the NPP is due to be launched. Hailed as a game changer in the banking system that has the potential to transform how you pay for everything. Certainly this is a much needed system. Australians have certainly embraced electronic payments, but the payments systems behind electronic payments is certainly dated. The new piece of …
Peer-to-peer hits the real estate market
This week we look at an interesting peer-to-peer disruptive model that has hit the real estate market. For anyone who has ever sold a property, there are several variable costs that are always considered. Is my marketing budget sufficient or not. Should I go to auction or choose a price. What is the real estate commission. This new website certainly …
Cheaper travel money… peer-to-peer
Another interesting disruption in the financial area. This week we take a look at currency exchange rates. Traditionally we’ve all arrived into a foreign airport and accepted the horrible exchange rates at the exchange kiosks, or perhaps we’ve gone downtown and bought Traveller’s cheques before departing, or some cash, or perhaps loaded up a currency card from one of the …
Disruption in the Professional Services sector…
The (On-Demand) Professional Services Experts are coming!!! If you’ve been thinking you have time to develop your skill set as your compliance revenue streams dry up then it might be time to think again. That space is already being filled. Any sector that has fixed assets/resources is likely to suffer from disruption. This week we look at the disruption by …
Cloud accounting and automation threatens compliance jobs. A lesson from Driverless cars
You’d probably have been in a secluded cave if you haven’t heard about the internet of things. However, we’re now on the edge of driverless cars, with many countries now having working cars available, but just needing regulations on how the vehicles will communicate on the roads. We’re now on the cusp of seeing some incredible things that we’ve only …
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