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Likelihood of smaller accounting firms utilizing Alteryx

Andrew15tha
5 - Atom

I'm an accounting student who's currently learning about the many capabilities of various software, Alteryx being one of them, I understand that larger firms would most likely make use of advanced software such as Alteryx but are smaller firms using it as well?

3 REPLIES 3
patrick_mcauliffe
14 - Magnetar
14 - Magnetar

As a consultant, I've seen it deployed in a wide range of organizations. 

Some only have one or two licenses, or some get just a server.  

The base package is well worth the investment for most organizations that need the tools it supplies and the efficiencies it creates.

jamielaird
14 - Magnetar

Hi @Andrew15tha ,

 

Alteryx is certainly more common in larger accounting firms, but in my opinion small to medium sized firms of any type are where it can have the most dramatic impact.

 

These smaller companies tend to have less mature data and analytic operations, and rely on manual Excel-based processes, and using Alteryx is a great first-step for automating these processes. With the time saved, they can move into higher value types of analytics like building predictive models.


I've worked on consulting projects with small to medium sized accountancy firms which have done amazing things using Alteryx. Check out Brookson for a bit of inspiration:

 

https://community.alteryx.com/t5/Alteryx-Use-Cases/Brookson-Innovates-to-Differentiate/ta-p/378547

DawnDuong
12 - Quasar
12 - Quasar

I think accounting firms are starting to use Alteryx in a bigger way than before - i can see from the local industry.

However different firms have adopted different approaches. 

Some adopt the "embedded" model where the professional consultants are trained and expected to use Alteryx in their work.  Some limit the licenses (to lower costs) to a smaller group of "analytics" team which serves only internal clients.

The main driver is cost: Alteryx license is much more expensive (on per user basis) than the Entire MS Office Suite... and the real benefits - to the accounting/ consulting industry that I am in at least - is reduced if the skillset is not a common denominator for the entire team, given the team-based/ project-based nature of the work.

Another challenge to adaptation is message from the top... and the willingness of more senior people in the team to learn to use and review. For accounting firms, the ability to open another person's work to review, test, make changes is critical, as the work is very procedure-based. To be able to understanding and review someone else's Alteryx workflows requires a higher level of proficiency vs. say reviewing an Excel spreadsheet...

Perhaps we'll reach an inflexion point between costs vs. volume... and things will change drastically!