Accountants Focus on Advisory Role as they Embrace Tech
As clients’ needs become more difficult to meet, accountants look to move away from the manual burdens such as data entry and collecting information. Undergoing a period of transition, the profession must now offer on-demand services whilst ensuring compliance.
Addressing these issues, T-Tech offers a solution for firms to satisfy both client expectations and comply with new regulations.
In the last year, the tech vendor designed a user-friendly product on the front end, that applies RPA on the back focused on core processes such as personal tax, audit, and compliance – enabling accountants to be more advisory based.
A central issue within the profession remains the idea that clients aren’t providing information in one single package but through multiple formats. By doing so, accountants are constantly struggling to chase up clients, which makes it expensive to process.
Member practices spend on average two hours each on their Personal Tax Returns, according to the ICAEW, in which 70 percent of this time is spent chasing the customer for information and data entry.
Chasing clients for information is a significant manual burden for accountants and time-consuming. With no digital front door in the market available, T-Tech has worked to develop a solution: Practice Gateway.