Begin your digital transformation journey today

Begin your digital transformation journey today
3min Read

Technology has changed bookkeeping forever by automating and simplifying financial tasks for clients and their accountants. Now it’s time for accounting to experience the same transformation.

Client expectations are changing and technology means they want compliance and reporting to be done quickly, accurately and be competitively priced. So the profession has to call time on the hours spent working on complex spreadsheets or manually preparing accounts, reporting and compliance.

With the help of technology, this work can be automated and thereby liberate accountants from endless number crunching and give them the time (and tools) they need to deliver valuable insight to clients – securing their role as trusted advisor.

Accountancy will no longer be driven by number crunching. The technology will do that. What will matter is client service, advisory and cultivating relationships, all supported and informed by technology. Clients need accountants to help them prepare for the complex challenges of the current and future marketplace. They want, and value, advice and that’s a people business, augmented by technology.

The future belongs to those who choose to become connected accountants – trusted advisors armed with data and a platform that automates common accounting work, identifies trends, predicts problems, and highlights areas for growth for clients.

Technology is a chief driver of change and 85% of accountants recognise they need to pick up the pace of technology adoption to remain competitive.

We’ve helped many firms internationally with their digital transformation. Showing them how technology can support positive change in their business and client service. We looked at these firms and their approach and identified the four steps that successful strategies for transformation all shared. We call them the four sights of connected accounting. You will be a connected accountant when your firm has successfully passed through these four key stages of digital maturity as seen below.
Minimal_Maturity_Curve
Connected accounting begins with Fullsight. Fullsight is all about consolidating and standardising client data. Then comes Hindsight – using this data to make the automation of common accounting workflows possible. Now Insight is where you start to develop value-added advisory capabilities. Armed with historic and real-time data you use benchmarking and analytics tools to extract the insight that sits behind the numbers and turn that into powerful advice. Finally, you complete your transformation with Foresight. You move on from looking at past performance to using advanced data and analytics tools to predict the future and power the development of new value-added client advisory services.

As you obtain each of these sights your firm, team and clients are more connected; you unlock new opportunities for greater productivity; develop new services; improve your competitiveness and unlock more revenue.

We’ve turned what we’ve learnt from working with these leaders in accounting into a simple roadmap for digital transformation that any firm can follow. So if you’d like to learn more about connected accounting and how you can build your own plan download our eGuide or contact us to see how Silverfin can help you deliver your digital transformation goals.

More Posts

5 Ways Accounting Workflow Software Can Help Your Firm

Your accounting firm may use workflow software to onboard new clients and manage deadlines, but workflow software can do so much more for your accounting ...
Read More

The advantages of using technology in accounting: why the cloud is crucial to your growth

Accounting firms face many challenges, from handling vast amounts of data to ensuring compliance with evolving regulations.  These daily pressures can make it hard to ...
Read More

Unlocking potential: A guide to selecting the right AI accountant software

What's better for your firm - a best-of-breed approach or a full suite solution? This is what we explored in our recent webinar. Watch it ...
Read More
UK Accounting Trends 2025

5 big challenges facing UK accountants in the next 12 months

In this Elite Business exclusive, Silverfin's Phil Hobden explores the biggest challenges set to face the accounting sector in 2025.
Read More
Business Team Meeting Discussion Working Concept

Cloud collaboration tools for accountants

Effortless collaboration has become an essential tool for accounting companies. Seamless communication and shared access to data and documentation help teams effectively manage deadlines, prepare ...
Read More
silverfin

How UK firms can overcome the challenges of cloud accounting adoption

Discover how to boost accounting firm team collaboration with cloud platforms like Silverfin, streamlining communication and tasks, and improving efficiency.
Read More

Webinar takeaways: Best-of-breed vs. full suite technology for accounting firms

What's better for your firm - a best-of-breed approach or a full suite solution? This is what we explored in our recent webinar. Watch it ...
Read More

Better Data, Better Decisions Choosing Between CCH and Silverfin for Your Accounting Firm

Many firms struggle with inefficient workflows, outdated systems and the pressure to deliver accurate, timely services to clients. These issues can lead to wasted time, ...
Read More

Elevating Efficiency: Customer Portals Transform Workflows for Accounting Firms & Boost Customer Service

Ideally, a customer portal for accounting firms is a secure cloud-based platform that can improve how you interact with your clients. With a seamless exchange ...
Read More

Silverfin secures Best Newcomer at Visma Annual Awards

Built by accountants for accountants, our cloud software has been helping accounting firms improve accuracy, automation and access for over ten years. In November 2023, ...
Read More

The 3 Best AI Tools for Accounting  

The application of AI tools for accounting in the UK, such as Silverfin Assistant and Dext Precision, extends far beyond chatbot interfaces like ChatGPT, offering ...
Read More

Everything you need to know about cloud-based accounting software for UK firms

Learn how to boost efficiency with cloud-based accounting software for UK firms. Automate tasks, improve accuracy, and streamline compliance processes.
Read More

Let’s Chat

Scroll to Top