A 2024-25 research report How are today's accountants and bookkeepers navigating a changing world? Our global trend report investigates this extraordinary period of change and paves the way to adapt your role and practice.
Unlock your potential to become an accountant or bookkeeper of the future.
This insights study looks deep into the accounting and bookkeeping profession and reveals the 3 key focus areas that accounting and bookkeeping professionals will prioritise to thrive in future...
96% of accountants and bookkeepers say the industry and their role will change in the next 5 years. Individuals and teams aim to grow skills and attributes that will be more important to the future of the profession.
56% worry they don't have the right skills to succeed
90% recognise that focusing on development would make a difference
41% want more time for upskilling
Most critical attributes and skills to focus on:
Reliability - 74%
Problem solving - 72%
Strategic thinking - 71%
Operational skills - 70%
There's already recognition for the power of AI, machine learning, and automation. 92% of responders said they spend too much time on manual admin and compliance tasks - which could be drastically reduced with the power of AI. While many have started their tech advancement journeys, the majority haven't.
83% say they’d benefit from automating more tasks
40% use AI-powered accounting and bookkeeping tools
74% expect to use AI powered tools in the future
What accountants are currently using automation tools for:
Payroll
Financial reporting analysis
Accounts payable
Anti-fraud processes
Client success leads to practice success but 90% say their workload impacts their client services. Sentiments showed that time and headspace freed up with tech could allow accountants and bookkeepers to dedicate themselves towards more personal and higher value approaches.
Accountants and bookkeepers have some contradictory feelings about their role and profession. Change is at the heart of this with shifting tax laws, heightened client expectations, and the rapid advancement of technology creating uncertainty.
Our research showed that current workloads were blocking accountants and bookkeepers from focusing on what they wanted to do and what they do best. However, these changes do create exciting opportunities for their roles to become better. The future is bright if focus can shift to freeing up time, leveraging technology, and fostering client relationships.
Want to know more about the Practice of Now ? Download our full report to get comprehensive insights on what accountants and bookkeepers are saying about the future of accounting and find out how you can take action. Embrace change and learn how to unlock the full potential of automation and AI.
The Practice of Now report highlights the importance of technology. At Sage, we have everything you need to help you become a practice of tomorrow, today. Unlock time and insights with our AI-powered accounting solutions so you get back to what you do best.
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