One industry player believes that the net impact of the availability of sophisticated cloud-based process automation and data analytic tools will cause the "Uberisation" of consultingand audit. This will slash the premium that the Big Four and firms at all levels, can charge clients.
But one expert feels increasing automation and the use of artificial intelligence may have a disruptive impact on the accounting industry and job levels. Mohit Sharma, the director of Mindfields, a niche outsourcing, and automation advisory firm believes the Big Four will not be able to justify their pricing because subscription cloud-based data tools have now become widespread.
"The Uberisation and the disruption of the consulting model of the Big Four is here, especially in audit and assurance because this is more repetitive work," he said.
"Technology is eliminating the differentiator between the Big Four and the other firms and will force the Big Four to move towards non-headcount based business models.
Mindfields drives innovation and excellence by leveraging disrupting technologies to optimize business processes that enable our clients to 'Grow for tomorrow'. We are a vendor-agnostic automation and artificial intelligence services firm.