Report reveals that despite frustrations with technology, accountants acknowledge that automation is the key to the future
RICHMOND, BC--(Marketwired - Apr 18, 2017) -
Sage, a market leader in cloud accounting software, today announced a new global survey of 700 accountants which shows that attitudes towards automation within the profession are changing as the benefits become clear -- signaling a new era for the accounting practice.
The 'Practice of Now' report, conducted for Sage by independent research company Viga, reveals that 96% of those surveyed are confident about the future of accounting and their role in it, despite 68% see their role changing through automation in the future.
"Change can often divide the crowd. This research shows the majority of accountants see the empowering opportunity that automation can bring, freeing them up to focus on their practice and their clients," said Jennifer Warawa, EVP, product marketing, Sage. "As artificial intelligence and bots become progressively more intuitive, the door opens further towards the future of invisible admin and gives them the space to spend their time on more valuable services for their clients. The industry must come together to support this change and help eliminate any barriers or fears that can hold accountants back. The call to action is now with accountants and small business owners to embrace the change and decide how they will spend the time that automation will afford them."
Canada Specific Data:
The report also showed that 82% of Canadian accountants view automating data entry and reporting as a way to create more value-add services for clients. Currently 55% use a cloud-based practice management solution to help serve their clients, while the majority stated the most important service that accounting software provides is access to real-time data, allowing them to give clients timely advice and insights.
In an industry moving towards automation, 97% of Canadian accountants surveyed voiced confidence about the future of accounting and their role in it, while 60% see their role becoming more strategic, allowing them to provide more financial advice to their customers.
Further Global Findings:
Cloud Adoption: With cloud now seen as table stakes in most organizations, cloud-based solutions amongst accountants are proving popular.
Admin & Automation: Many find admin tasks, such as time spent number-crunching, frustrating and can see great benefits in automation such as it freeing their time to serve more clients and creating more services for their clients. However, some still worry about how technology will impact their role.
Future Gazing - Optimism Prevails: Despite fears and frustrations, accountants have an optimistic view of the future of their profession.
Research Methodology:
The Practice of Now research was conducted by research & data collection agency Viga, on behalf of Sage, between the 13th and 27th February 2017. 700 accountants, from entry level to C-suite, were surveyed online across seven markets, including the UK, USA, Australia, Canada, France, Spain and Ireland.
About Sage:
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Sage -- a market leader for integrated accounting, payroll and payment systems, supporting the ambition of the world's entrepreneurs. www.sage.com
Contact Information:
Press Contact:
Betty Tian
Sage
Office: 604-207-3611
Mobile: 604-376-7398
Betty.Tian@Sage.com