Page 25 - Lawyers and Accountants - The Future of the Professions
P. 25
Lawyers and Accountants 2019 -
Section Summary: The future of accounting networks and associations is secure. Since they have always been
in competition with the Big Four for decades, the competitive equation will not substantially change without
rethinking their objectives. The members themselves will face new competition in the form of legal and ALSP
services that the typical member will not be able to offer. This will potentially marginalize their client
offerings. Even with similar services, lack of resources and name recognition will be serious impediments to
market differentiation leading to growth.
The principal competitive advantage is that networks have cumulative size and global coverage. Deployed
with law firms that are members of networks and ALSPs, they have significant opportunities.
22
Section Summary: The future of accounting networks and associations is secure. Since they have always been
in competition with the Big Four for decades, the competitive equation will not substantially change without
rethinking their objectives. The members themselves will face new competition in the form of legal and ALSP
services that the typical member will not be able to offer. This will potentially marginalize their client
offerings. Even with similar services, lack of resources and name recognition will be serious impediments to
market differentiation leading to growth.
The principal competitive advantage is that networks have cumulative size and global coverage. Deployed
with law firms that are members of networks and ALSPs, they have significant opportunities.
22
