A word from the Praxity CEO
Praxity CEO Sam Louis offers her thoughts on what 2024 looked like for the Alliance, and what she thinks may come in 2025.
How has your organisation changed and grown in 2024? Where has this growth come from?(service lines, regions, M&A, PE). What have been reasons for this growth?
New members have come from all over the world, with a specific focus on the Latin American region. The Alliance has experienced another year of record growth in revenues across all service lines, which is a testament to our members’ level of client service and business acumen. Continuity in leadership has been a key trend this year, with many firms doing careful work with their succession planning. While there have been regional shifts, Praxity still has member firms in all five regions, ensuring that the entire global market is covered.
What tech investment has been made across your organisation to pass on value to your clients/ member firms?
We have created a new website with a new member portal, as well as finessing our digital platforms for the Praxity conferences. Across the Alliance, several of our firms have been early adopters or technology, authoring and using bespoke software platforms both with their clients and among fellow professionals. Our charter emphasises collaboration as a key advantage of being part of Praxity, and digital tools will continue to make this quicker, easier and more effective.
What are your predictions for the global market for 2025 and the accounting profession?
The global market faces many kinds of uncertainty, with longstanding partnerships and accepted norms potentially in question. Pillar 1 and Pillar 2 rules are a huge leap forward in providing a fairer framework for both capital-exporting and capital-importing countries. That these are both true reflects the friction between nearshoring trends, designed to bring supply chains in closer control, and the ever-expanding influence of digital services, totally untethered from geography and very difficult to regulate on a global scale. Even in this dynamic environment, the accountancy industry can prosper, so long as it understands incoming rules and their implications. I think we will see both further growth in AI adoption and digital platforms as they come into maturity, though high-level professional oversight will be absolutely crucial to success. I am very optimistic about the outlook for next year in general, as developing markets come into their own and mature markets adapt accordingly. I anticipate that there will be new challenges as there always are, however I have seen some very creative approaches among our members worldwide as they help their clients succeed.