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Human element crucial to mid-tier accountancy tech adoption, survey finds

Author: ICAEW

Published: 30 Jun 2023

Useability of software is key for mid-tier accountancy firms when adopting new technology, an ICAEW survey has found.

The research, by ICAEW’s Technology Faculty, found that all mid-tier accountancy firms were using specialised software to deliver at least some services, while over half were using it across the majority of services.

Three-quarters of those surveyed said that they would increase the use of specialised software if it improved staff retention and wellbeing.

ICAEW spoke to Chartered Accountants at mid-tier practices with between 11 and 250 partners to understand the technology and software landscape that mid-tier firms operate in. A similar study was last done in 2011.

The focus on staff wellbeing as part of the decision-making process when adopting new technologies highlighted a shift away from putting client needs first, ICAEW said. With mobile apps and digital skills among features that ranked highly during interviews, the findings suggested that it was important for firms and the profession to “think digitally”, possibly motivated by a challenging recruitment market and skills shortages in the profession, as well as the need for firms to ensure staff are fulfilled at work.

Besides the user experience, respondents said useability, functionality, integration and efficiency were the specialised software features most useful to their practice, as firms look for ways to free up time and help staff focus on doing the job.

Barriers to adoption fell into two broad themes: the effort to adopt new software; and the skills required to introduce it. 

Meanwhile, cloud adoption has hastened in recent years after being negligible among firms when ICAEW last conducted similar research. However, smaller firms appear to be using less cloud-based software, an indication they are yet to fully embrace the opportunity that cloud platforms can provide.

Ian Pay, ICAEW Head of Data Analytics and Tech, said:

“The technology landscape has changed significantly in recent years and these findings clearly emphasise the need for firms to embrace the human side of technological change and put the staff experience when interacting with software front and centre.

“Giving staff the opportunity to voice concerns, share improvements and develop new skills is key, and will accelerate tech adoption in mid-tier accountancy firms. We’ll continue to support firms and the profession as they make the move to even greater use of technology.”

The research was launched at a webinar on Thursday, and can be found here.


Notes to editors:

CONTACT: ICAEW media office tom.mackintosh@icaew.com or 07866 853841