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3 Lessons Amazon's Digital Transformation Can Teach Accounting and Financial Services Firms Accounting and financial services firms can learn from the digital transformation strategies that have helped Amazon achieve rapid growth in the past twenty years.

By Chi Odogwu Edited by Frances Dodds

Opinions expressed by Entrepreneur contributors are their own.

Jirapong Manustrong | Getty Images

In the past few months, the world has had to drastically adopt new ways of doing business thanks to the global health crisis. While many companies have now grown accustomed to working with tools like Zoom and cloud-based collaboration platforms, there are still a few industries that have yet to fully implement the required digital transformation to grow their business in the coming years.

The accounting and financial services industries, in particular, are typically slower at embracing new technologies and processes. Due to the numerous regulations governing them, compliance and legal teams tend to move slowly when their organizations face circumstances that force them to adapt quickly because of potential problems that may arise in the future.

However, if accounting and financial firms expect to survive and thrive in this economy, they will have to accelerate their digital transformation. History has shown us that companies can achieve major operational and organizational leaps by borrowing and implementing ideas and processes from unrelated companies and industries.

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