Joel Morris is Vice President and Segment Leader, Research & Advisory at Wolters Kluwer.
Accounting is changing fast. For decades, firms built their business by delivering accurate compliance work—maintaining the books, preparing returns and billing by the hour. But technology has changed that equation. Cloud platforms, AI and automation shrink the time it takes to handle routine tasks. Clients now expect more than reports and filings. They want insight, foresight and partnership.
This shift is happening fast. I see it every day: Leaders are balancing the push to modernize with the need to keep culture strong and clients confident. Growth enablement—where strategic foresight, technology and a human-centered mindset converge—is the hallmark of firms ready to lead in tomorrow’s landscape.
The Wolters Kluwer 2025 Future Ready Accountant report backs this up with data. The report shows a fourfold increase in firms adopting advanced AI tools in just the past year. Some 70% percent of U.S. professionals say they use AI weekly in their role and 79% of firms plan to increase their AI investments. Change isn’t slowing down. Firms embracing AI and cloud platforms are not only keeping pace, they’re setting new standards for agility and client service.
Moving Beyond Compliance
As technology streamlines compliance work, firms are exploring innovative business models, such as fixed-fee and subscription models that prioritize value and partnership over traditional billing structures.
Growth is now driven by advisory services: guiding clients through decisions about tax planning, cash flow, technology investments or even mergers and acquisitions.
There’s no standard definition of “advisory.” Each firm must define what it means for its client base. Some start with tax strategy, expanding into business planning or forecasting. Others move into specialized consulting. What’s clear is that firms need structure, clarity and an openness to changing their business model. Growth will mean spotting where your firm can add value, aligning your team and equipping them with the tools and confidence to deliver.
Technology As A Growth Engine
According to our report, high-growth firms share three traits: They’re cloud-based, their systems are highly integrated and they use AI routinely to drive efficiency and insight.
Cloud platforms unlock data that’s been trapped in siloed, on-prem systems. Once data is unified, AI can surface patterns, automate routine analysis and suggest opportunities—from tax savings to cash flow optimization. Integrated tools make it possible to scale advisory across an entire portfolio.
In a certain sense, the adoption of more advanced technologies will require more human connections with their clients. When technology handles repetitive work, professionals can focus on relationships, business and growth strategy and offer proactive advice to their clients.
Our data shows firms with stronger tech infrastructure are also more attractive to investors. More than 90% of firms that recently received private equity (PE) or M&A interest said their technology had a moderate or significant impact on those opportunities. Private equity is flowing into this space because it sees scalable growth, which depends on modern connected platforms.
Leading With Empathy And An Entrepreneurial Mindset
Growth is ultimately driven by people. Empathy, entrepreneurial thinking and emotional intelligence are just as critical as technological innovation.
Emotional intelligence and empathy empower leaders to truly understand client needs and uncover opportunities that data alone may overlook. These qualities also shape a positive, growth-oriented culture. Teams thrive when they have clarity and confidence to step into advisory roles; knowing how to lead growth conversations, nurture relationships and deliver advice that inspires trust.
Entrepreneurial thinking fuels innovation and resilience. Many accountants are deeply skilled technicians but not natural marketers or business developers. Shifting from “work comes to me” to “I create and grow opportunities” requires new habits and mindsets. Leaders must encourage that shift and give their teams tools to succeed.
Upskilling is part of this. Junior professionals need integrated research tools, on-demand learning and confidence-building resources so they can advise clients earlier in their careers. Technology can bridge the experience gap, but only if firms invest in it and coach people on how to use it.
Reading The Signals
The 2025 Future Ready Accountant report shows how quickly the profession is changing. Firms are investing in AI and cloud at unprecedented rates. They’re rethinking business models, attracting outside investment and hiring and developing talent.
For leaders, the future is filled with opportunity. By building a strong technology foundation, clearly defining your advisory value, and empowering teams to lead with both data and empathy, firms can thrive in a rapidly evolving landscape.
The accounting profession continues to evolve at an unprecedented pace and scale. Today’s accountants are dynamic, tech-savvy partners in strategy and growth for their clients. Firms that champion innovation and growth enablement will define the next era of client service and professional success.
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