As a finance manager in the creative agency landscape of New Zealand and Australia, it's crucial to stay on top of the latest trends. Doing so ensures your team remains competitive, streamlines financial management processes, and drives your agency toward growth and stability. In this blog post, we'll explore the top 9 accounting trends for 2023 that can help you overcome challenges and achieve your goals while providing relevant regional statistics to inform your decision-making. 

Consider implementing mentorship and training programs to cultivate diversity and inclusion within your financial team. Such initiatives can help your employees from various backgrounds develop essential skills, broaden their knowledge, and improve their confidence. Recent data shows that 52% of Australians participated in on-the-job training in the last twelve months, indicating that organisations prioritise workplace training and development.

By investing in the growth of a diverse team, you'll strengthen your agency's financial capabilities. Additionally, supporting long-term success for your employees leads to diverse perspectives and innovative problem-solving in an inclusive workplace.

Pegasus Systems offers tailored finance assistance services backed by a professional team with deep agency finance experience and expert knowledge. Our customisable services cover various aspects of financial management. 

By outsourcing finance assistance to Pegasus Systems, accounting teams can ensure their agency's financial tasks are handled efficiently while benefiting from expert guidance on streamlining financial workflows and optimising finance operations. This approach allows creative agencies to stay competitive, maintain compliance, and effectively manage their financial processes, even during peak periods of activity. 

In 2023, accounting software will increasingly focus on offering customisable financial dashboards for agencies. As a result, finance professionals can monitor vital financial metrics tailored to their agency's needs, enhancing strategic planning and collaboration. For example, a study in 2020 shows that 26% of companies that use data visualisation tools report significant improvements in their decision-making processes. 

Cybersecurity becomes a top priority as financial teams increasingly rely on digital solutions. In 2021, CERT NZ reported a 65% increase in cyber security incidents. Implementing strong security measures protects sensitive financial data and ensures the safety of your agency's information. 

In light of Scams Week 2022, an initiative by the Australian Competition & Consumer Commission (ACCC) to raise awareness about scammers, it is essential to heed recent cautionary tales. The data breaches experienced by Optus and Medibank serve as a crucial reminder to organisations with sensitive data exposed through their public web apps, mobile apps, and APIs.  

Protect your agency from incidents like these by proactively addressing cybersecurity risks. So you can secure your valuable data and maintain the trust of clients and stakeholders, safeguarding your agency from potential threats. 

Remote work is here to stay, and adapting to this new normal is crucial for success. A 2021 Microsoft Work Trend Index report found that 70% of workers surveyed want flexible remote work options to continue. By implementing best practices and leveraging remote work tools, your financial team can maintain productivity and foster better communication across the agency. 

The Role of Virtual Collaboration Tools in Financial Teams 

Virtual collaboration tools like video conferencing platforms, project management software, and file-sharing solutions are essential for remote work success. By investing in these tools and training your team to use them effectively, you can facilitate seamless communication, enhance teamwork, and ensure your agency's financial processes remain efficient and agile.