Finance employees believe bosses are holding back on introducing account automation.

19th May 2020
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The introduction of modern working methods for practices, like accounting automation and flexible working, is being held back by UK accounting bosses, according to our industry survey.

Technology is ever changing within the accounting and financial industries and at an extremely fast pace. Employees are blaming their bosses and senior decision makers for not introducing new software.

Back in 2016, a similar survey was conducted when 29% of employees voiced that their company was restrained from modernising its operation due to lack of technology and the nature of the service it offers.

Things are moving in the right direction however, as today’s report highlighted that only 18% fail to move forward within their business due to the nature of the service offered as well as the technology available.

It’s becoming clear that finance professionals are understanding the benefits of new technology, and understand how cloud platforms and automated accounting software can assist with their jobs.

This is especially true when accounting professionals are seeking a more flexible approach to working along with increased collaboration.

It’s now noticed that, when accountants search for a new opportunity they favour roles that allow remote and flexible working (no longer just salary and career progression). This should be recognised by practices and businesses if they want to retain and attract talent.

Not only is staff retention and recruitment bringing new technology to the forefront of the industry for 2020, but with new regulations and reporting requirements it’s becoming more vital for companies to adopt a ‘digital first’ approach to help them stay compliant.

If practices and firms find themselves falling behind as they fail to get to grips with the technology, they may find that they are unable to catch up.

Our latest report, ‘Understanding Technology Attitudes within UK Finance Professionals’ surveyed 1,000 UK finance professionals and raises the thoughts, concerns and predictions for how technology will be within the industry in the future.

Take a look at our full report here.