2022 predictions for accountancy and business

No one has a crystal ball, but we can make educated guesses as to what 2022 has in store for accountancy and business. With the busy month of January out of the way, it’s time to sit back, relax and read about what this year could hold for you.

Prediction one: Hybrid working is here to stay

The pandemic really brought home hybrid working to the forefront for many businesses. But just because the world is opening back up doesn’t mean full-time back to the office for many. Some businesses and accountants are keeping the keeping a hybrid model in place to allow greater flexibility for employees.

This is driven by tech adoption and having certain software in place – such as Satago – means you can work on client accounts from anywhere, at any time. And it seems good for growth, too. According to a recent Accenture report, 63% of high-growth companies embrace a hybrid working model.

Prediction two: Inflation increases may hit clients

Inflation is at its highest level for almost 30 years in Britain and rising around the world. This is likely to mean clients will be impacted as everything from the cost of living to overheads and even potentially lower sales. Clients will appreciate proactive cashflow advice from their accountants – which Satago enables you to provide.

With reports that inflation increases are set to stay for the foreseeable future, now is a good time to get ahead of the game and spot any areas for improvement or even introduce clients to solutions such as invoice financing.

Prediction three: Greater demand for talent and upskilling

The pandemic has also given way to new tech adoption. Firms that didn’t use cloud platforms may do so now through need at the start of the pandemic. With new tech adoption comes the need for new skills and fresh talent is always needed at larger firms. The recruitment landscape at the moment is very competitive, driving salaries higher according to the ICAEW.

To stay ahead of the game, identify skills your firm will need in 2022 and upskill existing staff, or invest in marketing and recruitment to make your firm stand out and be attractive to the top talent.

Takeaways

After a mostly locked down two years no one could have predicted, 2022 looks more open and exciting. But it comes with a new set of challenges which, if you’re organised, you can no doubt rise to and help clients navigate through.