Commercial director James Marshall explains how Darwin’s theory of survival of the fittest can apply to accountancy

Charles Darwin is not a name on the tip of everyone’s tongue when it comes to talking about accounting, cloud technology and outsourcing.

Darwin was an English naturalist, whose scientific theory of evolution by natural selection became the foundation of modern evolutionary studies.

The theory was outlined in Darwin’s seminal work On the Origin of Species, published in 1859.

It encompassed the theory of “Survival of the fittest” referring to the process of natural selection.

His theory was “It is not the strongest of the species that survives, nor the most intelligent; it is the one most adaptable to change.”

So, it has proved and not just in the case of humanity. It can be applied beyond the natural world and to the world of business. The marketplace changes and firms offering clients in 2021 what they wanted five years ago, cannot compete against firms offering clients what they want right now.

Firms need to adapt to the changing marketplace, which demands efficiency, speed, and tech-savvy.

Technology evolves and if firms are not fit and agile and responsive to change, they fall behind, they risk going to the wall. Adapting to cloud-based technology is a case in point and that is where major players like GI Outsourcing come into their own.

Many other outsourcing companies are lagging, slow at adapting and still implementing old systems which are slower and more costly.

This is where the survival of the fittest analogy applies, not just to companies, but to outsourcing firms as well. If they are not nimble enough to adapt to the latest web technology, both they and their clients are likely to suffer.

The transition becomes more critical, for example, as firms have to transition to HMRC’s Making Tax Digital (MTD).

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