The technology industry is one of the most competitive and fast-paced industries, and it is undoubtedly a huge investment opportunity for investors worldwide. In the last decade, technology has become the largest segment of the market, eclipsing all other sectors, including the financial and the industrial ones. Now more than ever, technology is associated with innovation and invention and it is now integrated into all other existing sectors, be it health, financial, real estate, or manufacturing. With changes moving at lightning speed, everyday activities and long-term operations are bound to come across complex challenges.
Current Industry Challenges
For the technology sector, it’s critical to maintain an ongoing pace to stay up to date with evolutionary advances, complex technology laws, and shifting consumer trends.
Some of the biggest challenges facing the technology industry include:
- Finding and retaining talent, especially onshore
- Balancing the risks, fears and rewards of AI
- Data governance, security and privacy concerns
- Cloud networking issues
- Improving public perception and trust over protecting personal data
- Successfully implementing regulated privacy protections
Why is Wright Ford Young & Co. right for you?
Having a CPA firm like Wright Ford Young & Co. as a business partner can not only help with your current challenges but help you be prepared for future challenges as well. Wright Ford Young & Co. understands the technology industry is fast-growing with no slowing down in sight. Our tech-tailored approach eases the burdens of tax reporting and compliance for technology clients. Our team is curated of highly skilled advisory professionals to help with advanced industry issues like developing a sustainable business model and understanding complex filings and statements. We are experienced with federal and multi-state tax compliance for new product roll-outs and services, revenue recognition, and research and development tax credits to incentivize and support the commercial viability of growing technology clients. We take pride in helping your business flourish in the technology industry and being a part of your current and future successes.