Accounting firms resisting the transition to automating manual processes are potentially damaging their profit margins, according to Becki Roberts, national head of cloud accounting at UHY Hacker Young.<\/p>\n\n\n\n
Roberts says adopting automation technologies <\/a>can be beneficial to practices\u2019 bottom lines, as they free up accountants from repetitive activities to tackle value-added tasks.<\/p>\n\n\n\n \u201cAnywhere where we\u2019re doing things over and over again, there\u2019s an opportunity for some of that human element to be taken out of it,\u201d she explains.<\/p>\n\n\n\n \u201cThen there\u2019s your bottom line. If you\u2019re paying qualified, intelligent people to do processes that they don\u2019t need to be doing, that\u2019s going to have a massive impact on your profit.<\/p>\n\n\n\n Roberts adds that the manual completion of repetitive tasks can be attritional for staff, and that this can negatively impact retention.<\/p>\n\n\n\n The ICAEW\u2019s head of data analytics and technology, Ian Pay, agrees, noting that automation is now vital to success in the modern accounting sector.<\/p>\n\n\n\n \u201cWe\u2019re rapidly entering an \u2018evolve or die\u2019 world when it comes to embracing tech and automation \u2013 it\u2019s brutal but it\u2019s true,\u201d he argues. \u201cThat demise could come in the form of pricing yourself out of the market through labour-intensive processes, or losing clients who move to firms who can deliver more from their relationship, as their staff are freed up to engage in meaningful conversations.\u201d Read On:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Accounting firms resisting the transition to automating manual processes are potentially damaging their profit margins, according to Becki Roberts, national head of cloud accounting at UHY Hacker Young. Roberts says adopting automation technologies can be beneficial to practices\u2019 bottom lines, as they free up accountants from repetitive activities to tackle value-added tasks. \u201cAnywhere where we\u2019re doing things […]<\/p>\n","protected":false},"author":1,"featured_media":60545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[72],"tags":[688],"class_list":["post-60338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-processs-automation","tag-process-automation"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t