In a survey of 422 Australian Accountants, The Access Group (‘Access’) have delved deeper into key challenges facing the industry, with 68% claiming being an Accountant is harder now than ever before.

Despite massive leaps in technology and automation, only 9% of Accountants say the work is easier than when they first started their careers. When asked about the role of technology in supporting the day-to- day role of an Accountant, almost every respondent (91%) said they would save at least one hour each week if their platforms were integrated, and more than half (53%) would save four hours or more.

Shockingly, 33% of Accountants said they would save more than seven hours a week simply by integrating their systems. That’s a day every week spent managing the technology that is meant to support them.

According to Access APAC President Kerry Agiasotis, the promise of technology is that it will make work better, simpler, faster. But when firms have too many separate tools that require manual interaction to make the whole process work, it ends up creating more work, not less.

“There is seemingly a tool out there to help Accountants solve every part of their workflow. But when those tools are not integrated, it simply creates more complexity and confusion,” Mr Agiasotis said.

“Technology is often billed as the key to relieve workload, but our research has shown that the ‘urban sprawl’ of unplanned, non-integrated, and siloed technology systems is negatively impacting Accountant workloads.”

Half of respondents are using between three and five different pieces of technology to help automate workflows and deliver more value to clients, with 31% using more than six platforms. However, our research showed that those with more platforms actually have a lower likelihood of having them integrated, with only 28% saying that their firm has connected systems.

“A reliance on manual processes, re-keying data, and a need to double and triple check work for accuracy wastes time and leaves important work open to errors. As a trusted advisor to their clients, that’s something every Accountant wants to avoid,” Mr Agiasotis said.

“Technology should enable Accountants to focus on what matters most—their clients. But if that tech is not connected, it further complicates compliance and introduces a situation where Accountants feel they need a degree in software to run their practice.

“When you charge for your time, if your tech is costing you time, it’s ultimately costing your practice money.

“We work with more than 12,000 Accountants in 8,000 firms across Australia and New Zealand, and we believe they are too important to be held back by system complexity and compliance. We are working to solve this issue of disconnected point solutions by delivering a connected suite of best-in-class applications underpinned by next generation technology platforms for our customers.

“We will be showcasing some of these solutions at our Access All Areas event on November 27 in Melbourne, and we are inviting all interested Accountants to attend,” Mr Agiasotis concluded.

Key findings

• 85% of Accountants say technology use is a necessary skill set for success
• 50% of Accountants are using up to five different technology platforms
• 91% of Accountants told us they would save at least an hour each week if their platforms were better integrated, and more than half (53%) would save four hours or more.
• 33% of Accountants said they would save more than seven hours a week by integrating systems.
• 40% say their workload is ‘heavy’ and 26% claim to be overwhelmed.
• Only 9% of Accountants say the work is easier than when they started their careers.
• 84% of Accountants say their clients value their advice, mentoring, and guidance.
• 44% of Owners and Directors say ‘regulators’ make it harder to run the practice.
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Survey of 422 Australian Accountants, August 2024 – conducted by Agile Market Intelligence.