New Profit Center Emerges
According to a recent survey conducted by RHI Management Resources, 39 percent of chief financial officers believe services related to e-commerce will the be the biggest growth area for public accounting firms in the next five years.
The survey, which polled 1,400 CFOs from various sized companies employing more than 20 employees, shows that financial systems consulting was cited as the number two growth area for public accounting firms. Management advisory services followed close behind with 18 percent.
Only eight percent of respondents pointed to international expansion as a growing services area. Ten percent looked to outsourcing to be a strong offering.
With public accounting firms offering a wide range of services, it’s important to look at what’s important to the market. Another growing area, according to RHI, is systems consulting. More companies are looking to their accountants for answers on selecting software and hardware.