From Traditional Practice to SaaS Business: A New Model for Accounting? with Luke Farren

Is the "traditional" accounting firm still a viable model in 2025 and beyond? And what does its evolution mean for the entire Accounting Tech ecosystem?This week, we're joined by Luke Farren, founder of The Modern Firm and a consultant who helps accounting practices navigate their own Digital Transformation. We explore the massive shift from people-heavy practices to lean, tech-first firms that operate more like SaaS businesses themselves.We also debate the future of the profession, from data warehouses and AI in Accounting to whether AI bots create an "opportunity loss" by replacing the human touch.Join us for a deep dive into the other side of the coin—understanding the accountant's world is the key to solving your own activation puzzle.Follow Luke: LinkedIn: https://www.linkedin.com/in/lukefarren/The Modern Firm: https://modernfirm.co.uk/Follow Counting on Change: https://youtube.com/playlist?list=PLF2J1WlIWLMywubuNZt2RFWZECtkF4cVi&si=FzQ37NC7AyqwurGWhttps://www.linkedin.com/in/leighstallard/Episode Chapters:00:00 Coming Up...00:53 Guest Introduction: Luke Farren's Journey (From in-practice to building a tech-first firm, getting acquired, and founding The Modern Firm).02:28 The Evolution of Accounting Firms (The big idea: why firms are starting to operate and structure themselves more like SaaS businesses).03:57 Impact of Technology on Accounting Practices (How tech is changing behaviour and why the pace of change is the real barrier, not the appetite for it).05:54 Challenges and Opportunities for Firms (The #1 challenge for firms: well-structured data. Why it's a "garbage in, garbage out" problem for your tech).09:11 Future Scenarios and Big Tech in Accounting *(Debating the future: will firms become "data warehouses"? Could Google or Amazon enter the accounting space?) * 14:14 AI and Automation in Accounting (The rise of AI agents for client queries and the "opportunity loss" of removing human interaction).20:05 The Role of Accountants in a Tech-Driven World (Reframing automation: does it free up accountants to be proactive rather than reactive?)22:40 Conclusion and Contact Information