Incumbent professional services firms are facing enormous competitive pressures from disruptive entrants, losing market share to innovative services in market niches with cost and other specialised advantages. Organisational change is required to adapt to new market conditions, and senior management will benefit from a strategic approach to enabling reorganisation in order to compete.
The Tax Institute, Australia’s leading professional association and educator in tax, invited me to deliver a keynote presentation to the 2018 National Convention in Cairns focused on harnessing the fourth industrial revolution. In it I focused on a strategic approach to taking a proactive stance on the challenges of disruption, challenging senior management to empower themselves to make the necessary changes for the future of their profession. At the completion of the day the organisers recorded a summary interview, which I have reproduced below.
Thank you to The Tax Institute for including me in your National Convention. I was surrounded by incredibly talented people with open minds as to how to deal with changes in their industry. The future can be bright for tax professionals in Australia.