How to lose a month of work and still feel busy

Accounting firms pride themselves on precision. Every number balanced, every transaction documented, every report filed on time. Yet beneath this well-ordered surface, inefficiencies are costing firms time, money, and growth opportunities—and many don’t even realise it.

Payment processes, once an afterthought, have become a major bottleneck. While accountants focus on compliance and advisory work, outdated financial systems are quietly eroding efficiency, tying up resources that could be spent on higher-value services.

Nearly half of firms spend over three hours a week on reconciliations, payment errors, and system workarounds. That may not seem catastrophic, but stretched over a year, it adds up to nearly a full month of lost productivity.

The firms that modernise their payment infrastructure free up time, improve client satisfaction, and position themselves for advisory-led growth.

The alternative? Wasting hours on manual work that adds no value—while more efficient competitors pull ahead.

The Cost of Doing Nothing

For many firms, payments are an administrative burden rather than a strategic priority. Yet 34% of firms cite inflexible systems as a major challenge, with 30% struggling with slow, time-consuming processes.

The problem isn’t just inefficiency. Outdated systems also hurt client relationships. Firms relying on manual payment workflows struggle with transparency, late payments, and unnecessary delays—frustrating both accountants and their clients. Nearly one in three firms report that inefficient systems directly impact client satisfaction.

These aren’t just minor inconveniences. Every hour spent manually reconciling accounts or chasing payments is an hour not spent on forecasting, risk management, or business advisory services. At a time when firms are shifting towards a fractional CFO model, these inefficiencies are a roadblock to higher-value work.

Is Payment Automation the Missing Piece?

Firms that have successfully expanded into advisory services didn’t just change their mindset. They also changed their infrastructure. Modern payment systems don’t just speed up transactions—they eliminate friction, giving accountants and their clients real-time financial clarity.

At present, only 27% of firms use modern payment systems, yet 67% are open to adoption. The gap between awareness and action is striking—firms know they need to modernise, but many hesitate, clinging to outdated workflows that slow them down.

The firms that have made the switch have seen the results:

• Accountability Edinburgh reduced payment processing time by 90%, freeing staff to focus on higher-value advisory work.
• Accounting Matters cut payroll costs for clients by 90%, improving client retention and operational efficiency.
• Pixie Payroll slashed admin time by 24 days per year, allowing accountants to spend more time on strategic financial planning.

The efficiency gains aren’t just about speed. Payment automation gives firms real-time visibility into cash flow, greater accuracy, and seamless reconciliation, reducing errors and improving the overall client experience.

The Opportunity Cost of Sticking with Manual Processes

Most firms wouldn’t tolerate outdated accounting software. Yet many continue to rely on legacy payment systems, despite the fact that they’re costing time, limiting advisory expansion, and frustrating clients.

The firms that embrace automation gain more than efficiency. They also gain the flexibility to offer new services, expand their advisory capacity, and move away from transactional work. Those that don’t will find themselves stuck in a cycle of low-margin, labour-intensive accounting—while competitors automate their way to higher-value client relationships.

A Simple Fix with a Big Impact

The first step towards unlocking efficiency isn’t revolutionary—it’s simply eliminating manual tasks that shouldn’t exist anymore. Firms that integrate automated payment solutions gain back valuable hours, improve accuracy, and free their teams from repetitive financial admin.

For accountants still relying on outdated systems, the question isn’t whether they need to modernise. It’s how much more time they’re willing to lose before they do.