Sluggish technology adoption is hampering growth

Only one in ten accountants are confident they can ensure their business grows its value over the next five years according to new research from IRIS Software Group. 

This comes as legislative burden including making tax digital (MTD) tops the list of things giving accountants sleepless nights with more than two in five (over 40%) rating it number one. Concerns over hiring and retaining the right talent (25%) and how to best cope with advancing technology (14%) were also high on the list of factors causing accountants stress. 

Yet only 25% of respondents felt they have the right technology and tools to support clients with the transition to MTD. Further nearly two-thirds (59%) of accountancy leaders still do not have answers for how they are going to manage multiple deadlines and workflows within their own practice to support MTD. 

Despite clients seeing accountants as trusted business advisers...