The Increasing Digitization of Accounting and the Importance of Finding the Right Tools

Steve Cox, Director of Business Intelligence @ IRIS Software Group, shares what works for accountants and CPAs during and post busy tax seasons.

Rob and Steve discuss the international prevalence of busy seasons, and the impact it has on accountants in terms of long hours, stress and mental health.

Steve provides advice for accountants on how to get through busy season and how to reflect afterwards on what went well and what could improve. He emphasizes the importance of long-term planning and strategy, reviewing your client list, and looking at processes and workflows.

Steve also discusses the role of software vendors in supporting accountants during busy season. He predicts that busy season will continue but technology and benchmarking can help smooth out the cycles.

Key Takeaways:

• Busy season is an international phenomenon, with accountants worldwide facing intense workloads leading up to tax deadlines.
• Busy season takes a toll on accountants through sleep deprivation, stress, and negative impacts on health and family life.
• After busy season, accountants should reflect on what went well, what could improve, and what's in their control to change.
• Long-term planning and strategy is critical rather than just focusing on the short-term. Review your client list and staff wellbeing.
• Software vendors play a key role in supporting accountants during busy season as an agony aunt and shoulder to cry on.
• Technology like AI may make compliance tasks easier but won't eliminate busy seasons. Knowledge sharing will help.

"Frazzled is a really good word to describe them because there isn’t much else you can say. It is all those long hours take their toll."

"Is life going to get easier for an accountant? No. Everyone seems to be thinking that AI is either going to come and replace their jobs or make their lives easier."

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The Accounting Influencers Podcast drops every Monday to accounting professionals, finance specialists, software vendors, tech providers and influencers across 150 countries in the accountancy, CPA and bookkeeping space. To participate in our international virtual speed networking events for the accounting community, go to https://accountinginfluencers.com/events and book your place at the next gathering. Great to build your personal brand and make valuable industry connections.

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