Thomson Reuters finds accountants lag behind in tech change

FAMILIARITY WITH TECHNOLOGY is a setback for accountants, Thomson Reuters has found.

The survey conducted by Digita – part of Thomson Reuters’ tax and accounting group – shows that 63% of accountants have not changed their software provider for five years.

Half of the respondents (50%) said employee familiarity with current software prevents them from change, with 41% concerned about data migration. The training involved with new systems proves a barrier for 40% and 30% claimed they are sticking to the ‘devil they know’.

The research shows 55% of accountants selected technology solutions without getting references and 37% made purchases without trials. However, references and trialling were said to be of greatest importance when choosing new solutions.

Digita’s managing director, Andrew Flanagan, said: “A business can often outgrow the capabilities of its current software systems and it’s really important firms investigate more sophisticated and robust solutions in order to improve practices and continue to grow and attract customers.”

He added: “Staff familiarity shouldn’t hold you back from switching to something better. And, if chosen wisely, it really doesn’t have to mean a major upheaval.”

In terms of accountants who chose to change solutions, it was found that price increases by their former provider, poor customer service and lack of integration were the biggest reasons for switching.

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