Accountants ready to embrace emerging tech

Global research from Sage has suggested that 86% of accountants are ready to embrace emerging technologies, such as automation, to eliminate admin. This will inevitably help save time and increase productivity, as technologies like automation have done across many other industries.

The survey ultimately showed that the shifting attitudes towards automation are heralding a new era in the accounting sector. The research revealed that 96% of those surveyed are confident about the future of accountancy and their role in it, despite 68% seeing their role changing through automation in the future.

>See also: Automating the finance function to unlock the value of your accountants

Meanwhile, 38% percent revealed one of their biggest business frustrations was their time spent on number-crunching, while 32% of participants reported they are still using manual methods as part of their record keeping for clients with 25% employing Excel and 7% still use handwritten notes.

Overwhelmingly, 86% reported they would be happy for technology to make such admin elements of their job invisible so they can focus on their clients and building their practice.

“Change can often divide the crowd,” said Jennifer Warawa, EVP product marketing at Sage.

>See also: Business process as a service can deliver improved performance too

“This research shows most accountants see the empowering opportunity automation can bring, freeing them up to focus on their practice and their clients. As artificial intelligence and bots become progressively more intuitive, the door opens further towards the future of invisible admin and gives them the space to spend their time on more valuable services for their clients.”

“The industry must come together to support this change and help eliminate any barriers or fears that can hold accountants back. The call to action is now with accountants and small business owners to embrace the change and decide how they will spend the time that automation will afford them.”

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Nick Ismail

Nick Ismail is a former editor for Information Age (from 2018 to 2022) before moving on to become Global Head of Brand Journalism at HCLTech. He has a particular interest in smart technologies, AI and...