Progress, what progress?

Back in the 60’s and 70’s, when I was a lad, doing the family laundry was a time consuming chore. Mum would disappear into the kitchen and close the door so that the noise around the rest of the house was at least manageable.? She would be in there for hours, swapping between washing, rinsing and squeezing out.

Every so often the noise level would resemble a fighter jet taking off on an aircraft carrier as the tumbler element kicked in and then she’d reappear, wooden tongs in hand, to ask for help to reposition the twin tub that had danced across the kitchen floor.

Her only break would be the trip into the garden, a full, heavy laundry basket under her arm, to hang out the clothes.

Mum is 91 this year, bless her. She still does her own washing but now it’s a bit easier. One click to set the programme, press the button and walk away until the ?machine beeps to say everything is washed and dry.

Huge progress over the years, as with so many other household chores and a good example of how technology has been used to change our lives for the better.

How come, in accounting, we had more time in the 60s and 70s then we have today? Like Mum, why are we not all out in the garden or drinking coffee with friends, whilst the technology does the job for us at the push of a button?

Of course, we’ve seen progress. The profession has not been blind to the internet, digitalisation, systemisation and automation, but why is it that our single most limiting factor remains a lack of time?

The most noticeable impact of technological advancement has been in staff numbers. From what I see, accounting firms today operate with approximately a quarter of the staff that they would have done 50-60 years ago. That in itself raises another question: why are we not rolling around in much more profit as a consequence?

Technology has changed how we do things but it hasn’t achieved fundamental changes to our daily working lives. Is that the fault of the technology or how we’ve applied it?

The tech world has to accept some of the blame. Mum’s transition from twin tub to the fully automated, multi-functional washing machine of today has been relatively painless, without a need for protracted training, education programmes and engagement strategies. As accountants we don’t often benefit from plug-in and press tech. The fintech industry’s approach of launching minimum viable products hardly helps that. We are generally expected to do the heavy lifting when it comes to onboarding, and team and client training and engagement. Too often we’ve been sold what the tech world wants to sell us and not necessarily what is the best and simplest fit for our needs. Too many features and not enough benefits!

We can’t just blame them though. As a profession, we have been relatively slow to embrace change in general and technology in particular. We’re not known to be risk takers or cutting edge decision-makers and that has held us back. There are fundamental failings around our profession when it comes to strategic progression, commercial thinking, decision making, skills training and standing up for our true value that technology cannot fix as a magic button.

Too often, we’ve passed on to clients the full savings of our digitalisation and systemisation in the form of holding or cutting prices without allowing ourselves the benefit of the investment or standing by the fact that the value of the service or advice has not been diminished by the efficiencies.

I don’t aim to be negative, more to challenge our relationship with our tech and raise awareness about what brings about real change.

People change firms, not tech. The tech should, and must, deliver the tools to enable us to change more efficiently and effectively but it’s the decision-making and drive of the accountant that will create a better accounting firm for all.

Think about what changes you and your team can bring to your firm by changing your thinking, focus and behaviour. Then look at your tech again with more clarity…does it help or hinder?

How much tech do you have in your firm that is underused or fully neglected? Is this evidence of tech for tech’s sake? Tech as a dream rather than a reality?

I am more encouraged by the way that APIs, AI, robotics and wider automation are enabling smaller, more versatile tech companies to come into the fintech space? and work with accountants on their needs. It is easier now to go to a provider and say: “This is what I have. ?This is what I need. Can you do that for me?”

To do that, we need to be clear on our basics, as usual.

·????? What’s the vision?

·????? What are the goals?

·????? What do we do right now?

·????? Where are the gaps and inefficiencies?

That puts us in charge of the conversation, probably for the first time.

Let us shape the tech, not vice versa.

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