How do firms in the mid-market use data analytics?

At our next Mid Market Tech Forum on 10 July, we will be discussing how firms in the mid-market use data analytics – within their firms and with their clients. The move from compliance to advisory is well documented, and the use of data analytics to provide insights to clients is becoming increasingly important. In addition, the growing use of data analytics and AI in audit is moving firms to ask where they are on this continuum – and how do they compare to their peers?

At the meeting, we will have short presentations from the NAO and member firm Ecovis on their use of analytics, together with comments from the FRC. We will then break into groups where firms can discuss and compare their own journeys before feeding back lessons to the larger group. These breakouts sessions prove helpful for comparing notes and holding conversations that may not be so comfortable in the larger group

The Mid Market Tech Forum is a self-help group of firms (currently around 20, but growing each meeting) that operate in the mid-market and is open to any member firm that feels it can benefit from attending to discuss and share its experiences.

Brief reports from previous meetings are online and have covered subjects including extraction of data, and terms and conditions covering client data  We will aim to document and report findings here, and more fully in the faculty magazine, Chartech.

If you are interested in joining the next forum, which takes place in Chartered Accountants’ Hall on 10 July at 10.30, please email me at richard.anning@icaew.com. We can dial people in if there is interest, but participants would find it hard to join the interactive sessions. There is no charge to attend.

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