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Taking on a challenge like this requires our industry, partners and regulators to come together with the innovators and startups that will drive change.
Only together can we create the standards, the platforms and the marketplaces that will shape our future.
It’s a change that will take root in the accounting sector first, but should quickly grow to enhance all forms of professional services.
We’ll help drive greater automation of the tasks and functions delivered by the professional services industry today. But it won’t stop there. These new standards and the sharing of systems will open up the market to new innovators and service providers.
We’ll need to work across the industry and beyond, combining the tools and technologies that exist today with new innovations such as Artificial Intelligence. By combining the best minds in our industry with the best from the technology sector we can create a single industry-wide platform that will allows us all to reach further.
Let’s look at a use-case scenario, first showing the theory of what would be possible and how it would benefit all parties, and then taking this example further with a visualisation of an application that could be built on a Common Data Model.