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Data brings incredible value to accounting and finance firms. We sat down with Adam Irwin, Managing Partner at Pitcher Partners Sydney, who knows the value of data better than most.
How APS helped Pitcher Partners Sydney leverage data
13 August 2021
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3 minute read
There’s no getting away from the fact that technology is helping the accounting and finance sector evolve. Core to these changes are two powerful tech forces: artificial intelligence (AI) and predictive analytics (PA). AI can be deployed to execute both sophisticated and mundane repetitive tasks to streamline your operations, while PA can help business leaders make more informed, proactive decisions to take your firm to the next level.
We sat down with Adam Irwin, Managing Partner at Pitcher Partners Sydney, who knows better than most the value that data can bring to accounting and finance firms. The firm practises data-driven processes every day–for the benefit of their people and clients. Moreover, Adam understands that artificial intelligence and predictive analytics are “technologies that support the business; they don’t replace staff. They allow us to deliver a better product by giving us greater access to data.”
A data-driven supporting cast
These intelligent technologies can be deployed in a variety of ways to support a firm’s specific accounting and finance activities.
“We can run robots across a huge database and get it to look for anomalies in our data sets,” Adam says. “
“Using technology for this purpose is quicker and probably more thorough compared to an individual. Equally, we can run analytics around comparing different businesses in the same sector, or different businesses in different regions, and then compare the data.
“There is also value around how technology can help with some of the procedural work. We can use robots to generate standard documents to begin engagement processes, update client records, adding time records or ensuring compliance tasks are completed.”
More time for what is important
By using data throughout the firm, Pitcher Partners benefits by allowing its people to work on tasks that require client interactions or strategic decision-making.
“If we can free up time on repetitive tasks, then that provides our people with more bandwidth to complete other work. Equally, it gives them some space to turn their mind to helping their clients in other ways, or to look for newfound opportunities”.
Pitcher Partners uses APS for both insights and problem-solving
For some time now, Pitcher Partners Sydney has used APS across their daily activities to streamline operations, support their clients and better understand the needs of their staff.
“Most of the data we are capturing in APS is around how our staff are performing and where they're allocating their time,” Adam says.
“This data gives us insights into how we need to be supporting and serving our clients.
“It's most useful for us at the production end more than anything else because it allows us to compare how we served our clients in previous years. So, we’re really using these tools to inform how we're performing certain tasks for our clients now. That's the type of data we are using from APS. And then we can use that data to interpret potential issues in supporting clients, or alternatively to work on improving the performance of the practice.”
The value of AI and predictive analytics is clear for all to see. The firms that embrace these tools – rather than shunning them for traditional work styles – will stand head and shoulders above the competition.
Pitcher Partners is just one of many happy APS customers. If you want to embrace the ‘new norm’ in accounting and financial services, speak to the experts at APS who will arm you with innovative technology solutions so you can turn knowledge and understanding of your data and business trends into value for your clients. This allows you to focus on what’s most important: providing outstanding advisory services, through accurate data and strategic insights, to help cultivate long-term success. Contact us today or call (+61) 2 9965 1300 to request a demo and find out more.
APS is a division of Reckon, an ASX listed company. We develop the software used by the best accounting firms in Australia and New Zealand to run their business’ and advise their clients.
