A well-earned summer holiday is something many of us seek. But it can sometimes be tricky to balance our need for relaxation while ensuring business matters run smoothly. This is a reality deeply familiar to those working in accountancy. Whether it’s being unable to truly switch off or running deadlines to the wire before leaving the office, there may be a perception that holidays actually cause more stress for accountants than it’s worth.
The summer months are often a crucial time in accounting, with clients taking holidays even if the accountants themselves are not. This offers vital breathing room for many to review practices and ensure they are operating at their most efficient. With automated technology helping to streamline work processes, could it be the solution which frees up all accountants for a well-earned summer break?
Ease of automation
As an accountant, even if you manage to escape the office, it’s often not much of a break. It’s a situation many know well; you’re frequently worrying about what’s going on back home, whether clients are content in your absence and checking on the overall running of the business isn’t a straightforward task. This is where automation can make all the difference.
From any location, real time data gives you a comprehensive overview of your business immediately, allowing you to identify any potential issues and deal with them promptly. Rushing to the airport, amid a mountain of last minute deadlines, is also a thing of the past, as automation removes the need for manual input and makes it easier to prioritise workloads. That means more free time to enjoy a break, but also more scope to focus on meaningful tasks like relationship building with your clients.
Taking a break is good for business
A 2023 survey revealed that over a third (36%) of accountants are considering leaving the profession in the next five years, including 30% of under 25s. Most notably, 24% of respondents aged 25-44 are leaving due to a lack of healthy work/life balance. Evidently, some serious considerations need to be made to retain the best talent in the industry.
If a person’s workload is too restrictive, the calibre of their output can be affected, alongside their stress levels. With that in mind, there’s an argument that automation not only frees up vital time for those who feel swamped, but its simplicity can improve the quality of an accountant’s work in other areas too.
Reevaluating work practices
If an accountant isn’t able to take a summer holiday, their clients often can. If this results in a quieter period for a business, it may be the perfect time to reassess current work practices.
What is progressing well? What could be improved? Where are the roadblocks? And where can automated tech slot in to alleviate some of those pressure points?
By evaluating existing processes and identifying areas for improvement, accountants can use the summer to onboard new capabilities, or upskill in certain areas. They can then start the Autumn months ready to take on any challenge.
The bottom line
Adopting automation can feel daunting. After all, you’re getting to grips with new tech and it takes time to master. But it’s a short term period of understanding that has many long term benefits for both the accountancy firm and its clients. If you do embrace automation, be sure to pencil in that elusive holiday for 2024.
Dext will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand G9.
