Report says workflow remains top challenge for accounting firms

GlobalData

Thu, Apr 17, 2025, 8:04 AM 1 min read

A caller study has revealed that workflow remains a apical situation for accounting firms, with inefficiencies, lawsuit connection delays, and manual administrative tasks are the biggest concerns.

The 3rd variation of the Financial Cents State of Accounting Workflow Automation Report offers a elaborate investigation of the astir important workflow challenges that emerged successful 2024.

It draws insights from 816 accounting, bookkeeping, and taxation steadfast owners, chiefly successful North America.

The study revealed that getting documents from clients is inactive the biggest workflow contented and workflow inefficiencies proceed to interaction steadfast owners’ work-life balance.

According to the survey, 53.8% of companies spent much than 5 hours a week scheduling and assigning enactment anterior to automation. Moving to automation allowed 75.8% of companies to trim this clip to 5 hours oregon less, importantly enhancing efficiency.

59.2% of companies reported that they person succeeded successful their archetypal attempts astatine solving workflow issues and 66.1% of firms measure the occurrence of workflow automation by however smoothly their systems and processes run.

Many companies inactive beryllium connected spreadsheets and recognised the request for automation erstwhile they commencement hiring staff, mislaid way of cardinal tasks, oregon struggled to conscionable expanding lawsuit demands.

Centralised dashboard is the astir sought-after workflow bundle diagnostic for 73.9% of respondents, followed by lawsuit reminders (69.3%) and a lawsuit portal (60.6%).

Recurring task automation remains a precocious precedence and immoderate respondents reported that workflow inefficiencies resulted successful losing clients.

These findings item however workflow automation tin heighten collaboration by offering real-time visibility into tasks, centralising communication, and streamlining handoffs betwixt squad members.

"Report says workflow remains apical situation for accounting firms" was primitively created and published by The Accountant, a GlobalData owned brand.