Firms are currently losing 16 per cent of potential revenue due to outdated systems and processes, mounting admin tasks, and a lack of utilising tech to improve productivity. According to research from Silverfin, the cloud-first accountancy SaaS platform, UK accountancy firms could reclaim £48,000 in billable time per accountant each year by tackling these issues.
Ironically, the Silverfin research, titled All Accounted For, reveals that only 14 per cent of firms are spending time on strategic planning, despite 51 per cent expressing that growth is their main strategic goal. The report reveals that for every hour they spend on client advisory, 1.5 hours are spent on internal admin. A third of firms (34 per cent) say economic instability is impacting their ability to grow this year, while 23 per cent point to the technical skills gap as a barrier to digital transformation.
In tandem, accountants also report losing 1.2 hours per day to tasks they feel don’t add value, with manual data entry, chasing colleagues or clients, and completing repetitive compliance most cited as taking up their time. One in five say outdated or non-integrated systems are a drain on their time.
The impact isn’t just commercial, it’s human. One in four (25 per cent) accountants report signs of burnout, and 31 per cent are working six or more extra hours each week. As a result, 77 per cent say they would support a formal right-to-disconnect policy. However, many accountants seem reluctant to upskill the next wave of talent: over a fifth (21 per cent) find training and mentoring junior staff mundane.
Lisa Miles-Heal, CEO of Silverfin, said: “This isn’t just about inefficiency, it’s about lost opportunity. Every hour wasted is an hour that could be spent advising clients, growing the firm, and making a real difference to UK businesses.
Technology alone won’t solve the problem. But when firms connect the dots between data, skills, and strategy, and actually act on it, that’s when the real transformation happens. That’s how technology becomes a true growth engine, not just another tool.”
Tech can alleviate burnout
Amid economic uncertainty and pressure to fuel business growth, 89 per cent of firms have invested in automation and digital tools. But with just eight per cent of time spent implementing new technology, and nine per cent on training teams, it’s likely that many firms aren’t seeing the benefits of their investments, despite their strong appetite for transformation.
But AI is showing promise, with 85 per cent of firms saying it is helping them save time, with the average time saved estimated to be nine per cent. By 2028, accountants expect time saved to increase to 12 per cent of their total working time. However, barriers remain, with 44 per cent of accountants unsure how AI could benefit them, and 28 per cent citing staff resistance to change as a roadblock for implementation.
The research was conducted from a sample of 350 partners and senior- to mid-level employees working in accounting firms in the UK and was undertaken in January 2025 by Censuswide. The sample consisted of 210 large firms (turnover £50.1million – £1billion) and 140 medium-sized firms (turnover £1million – £50million) ,all with 15+ employees.
