- Using a three-stage approach, Silverfin explains how AI and accounting automation can help attract, engage, retain and nurture talent, while offsetting the skills gap predicted for the industry.
- Includes case studies and commentary from leaders at flinder, Moore and BKL.
Written in collaboration with senior leaders at accounting firms flinder, Moore, and BKL, the whitepaper explains why AI and accounting automation software are critical to attracting and retaining accountancy talent, while also addressing the capacity crunch many firms face today. With the ATT predicting a shortfall of 60,000 qualified accountants by 2050, firms need to act quickly to secure the future of the profession.
The latest whitepaper from Silverfin, specialists in cloud software for accountants, ‘Tackling the capacity crunch in accountancy: a three-stage journey’ , is designed to help firms respond to the growing talent exodus from the accountancy sector.
Former PwC accountant and now Silverfin’s UK General Manager, Cameron Ford, says the warning signs are already visible. He explains that while the ATT predictions may sound dramatic, cities such as Manchester and Nottingham are already feeling the effects of accountants leaving the profession. Many professionals are becoming disillusioned by heavy workloads, low-value repetitive tasks, inflexible working practices and increasing compliance demands. British businesses depend on the accountancy profession, but may soon struggle to access the skills they need to remain compliant and grow.
Cameron adds that while there are initiatives across the sector to improve the perception of accounting and attract younger talent, firms must recognise that Gen Z will need convincing. Many do not want careers defined by unfulfilling number crunching or the risk of burnout. They expect flexible working, stimulating work and the right technology to support them. The UK economy cannot afford for accountancy firms to delay meeting these expectations.
‘Tackling the capacity crunch in accountancy: a three-stage journey’ provides practical guidance on how firms can address these challenges and use AI and accounting automation, supported by cloud software, to create more fulfilling and profitable ways of working for firms of all sizes.
Drawing on case studies from industry leaders flinder, BKL and Moore, the whitepaper highlights the importance of a clear people and technology strategy to reverse the professional exodus and attract new talent into the industry.
In step one, the guide focuses on understanding four key challenges:
- finding and securing the right people
- keeping people engaged
- training people in a competitive market
- maximising people’s contribution to growth.
In step two, it explores three people-focused capabilities AI can unlock:
- Speed and flexibility
- Accelerated growth
- Strength and resilience
In step three, it provides guidance on evaluating the right technology and partners.
Tine Deklerck, partner at Moore Belgium, explains that introducing technology to handle manual tasks creates a foundation for future growth and acquisition. She notes that to deliver job satisfaction in accountancy, firms must equip teams with tools that reduce repetitive work and support flexible ways of working. Continuous investment in internal networks and modern technology helps build a strong community for employees, ensuring people never feel like replaceable parts of a growing organisation.
Alistair Barlow, CEO and co-founder of flinder, says that combining technology with a strong people strategy has helped the firm attract high-calibre, tech-savvy candidates and move towards future-proofing the practice. He explains that the way flinder uses technology is appealing to the type of talent it wants to attract, as the next generation of accountants actively seeks out modern, technology-enabled workplaces.
Hollie Moore, early careers manager at BKL, highlights the importance of being a tech-led firm when recruiting. She explains that experienced and qualified hires are excited to join a firm that embraces technology, innovation and time-saving tools. Cloud-based systems also enable employees to work from anywhere, offering flexibility such as travelling while continuing to work part-time.
Cameron sums up: “It will become clear to readers that AI and accounting automation is making a difference at every level. Firms of all sizes and points in their growth are tackling the capacity crunch with AI, and clients and employees are both benefiting. Not only does this future proof their firm, but it puts them in a position to provide market leading advisory services. It leaves me in no doubt that the firms that hesitate to join the AI movement will pay the price.”
ENDS
About Silverfin:
Silverfin is a cloud platform with live client data, connected workpapers and AI that’s built by accountants for accountants. Silverfin dramatically improves the efficiency, accuracy and profitability of traditional post accounting work. With centralised data, standardised and automated workflows, this work takes hours rather than days.
Built by accountants for accountants, Silverfin supports over 340,000 client files a year for customers including 30 of the top 100 accounting firms in the UK.
Creating consistency and capacity, Silverfin helps firms thrive with improved quality, insights and the benefits of AI trained on accounting data. Our cloud Data Hub enables access to real-time data and eliminates errors so that preparing and submitting end-of-year accounts and corporation tax returns often takes 50% less time.
About Silverfin Assistant: Launched last year in the UK, Silverfin Assistant continuously analyses client files to find unusual balances, missing transactions and outliers. Flagging these and suggesting fixes, saves hours of manual checking, improves accuracy and improves client service.
