Explore more insights

accountants, news

The Future of Fintech Roadshow 2018 Presents: 

The Evolving Role of the SME Accountant

Adriana Amato Oct 16, 2018

Historically speaking and without much controversy, “Banks must, and do, manage a complete suite of banking products and serve all clients through all channels” says Founding Partner of QED Investors Frank Rotman. However today, as we examine our financial ecosystem, best of breed financial solutions are now emerging from a myriad of institutions, changing the business finance landscape for SMEs. As a consequence the role of the accountant is changing too. 

Financial information is flowing faster and freer than ever and is putting more power at the fingertips of business decision makers, allowing for more responsive and better-informed decisions than ever before. Increasingly, UK businesses are looking to their accountants for guidance and services beyond bookkeeping, tax obligations and compliance. 

It used to be simple to go to the bank about a business loan” says Capitalise.com Managing Director Paul Surtees. But in the last three years alone, 3,000 brick-and-mortar UK bank branches have closed,  while the number of SME lenders has increased from a handful  to over 360.” 

The Evolution of the Accountant: From Number Cruncher to Strategic Business Advisor

The humble accountant is afforded more power than ever before. This traditionally unassuming profession is the only remaining unbiased source of “truth” for the SME. 

Many fintechs now work directly with accountants to plug the business finance gap. Tide, Crowdcube and Capitalise are three such companies, with each of them tackling a different key SME finance area. Tide offers banking services for modern businesses; Crowdcube is an investment crowdfunding platform; and Capitalise is an adviser-led debt funding platform. All three companies identify accountants as a key SME partner. 

As Tide’s Head of Partnerships Max Bernier explains, “We serve as problem solvers to accountants and their clients. We’re tech people, here to facilitate the working lives of accountants by making their workflows and business outcomes easier and more efficient.

Whereas Crowdcube’s Head of Equity Investment Michael Wilkinson says, “Accountants can navigate this new Fintech landscape, advise clients on the optimal stack of different solutions, and utilise them to deliver for their business.


The Future of Fintech Roadshow 2018

The fintech trio kicks off its Future of Fintech UK Roadshow to explore the following questions: 

  1. What is the accountant’s role in a world where legacy banks are unable to deliver a full suite of best-in-class products across all business finance verticals?
  2. Is it inevitable that the SME accountant will soon take the place of the legacy bank’s Relationship Manager? Or does it merely provide accountants with additional opportunities to further serve their client?

Too often discussion centres on the notion of what accountants “should” or “must” do in order to thrive and this often comes from commentators with little knowledge of the accounting profession. The Future of Fintech Roadshow 2018 seeks to do away with this inefficient mode of thinking by focusing discussion around accountancy best practices at a foundational level.. It will host presentations from financial industry leaders, members of regulatory bodies, leading accounting professionals and other key financial community stakeholders from across the UK.

Join the Business Finance Revolution!

Register your interest here and join us at one of the Fintech Roadshow’s locations around the UK, kicking off in Manchester on October 17 2018

alternative finance
invoice finance
case study
trade finance
contract finance
working capital
startup loans
fashion finance
merchant cash advance
future accountant
product of the month
women in funding
partner of the month
business tips
live session
international women's day
covid19 coronavirus
corporate finance
accounting firm
asset finance
hire purchase
credit score
business funding
business credit score
south africa
small business
business loan
property finance
commercial mortgage
credit imporvement
spring budget 2023
small businesses
spring budget
commercial mortgages
trade debtors
cash flow
truck finance
late payments
lorry finance
building a financial safety net
trade debtor days
bridging loan
credit checks
interest rates
balance sheet
bad debt
company credit checks
debt collection
credit control
check company credit
business loans
instant offer
credit scores
credit review service
company credit check
commercial property
revolving credit facility
line of credit
recovery loan scheme
growth guarantee scheme
business finance
Follow Us
Sign Up to Receive Updates

Related content

Signup to our newsletter

Have insights about the accounting community sent straight to your inbox. Sign up to our newsletter.