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Accountants are adopting more technology to streamline processes and provide new capabilities within their practices, but how are they using technology to achieve their goals?
Wolters Kluwer's Annual Accounting Industry Survey Report reveals how accounting firms plan to utilize technology in 2025, based on a survey of 2,373 tax and accounting professionals from firms of all sizes.
According to the report, a majority of respondents noted growing revenue and profits as a goal for 2025, with other top goals including improving client service and expanding client base.
Accounting firms are investing in a variety of technology solutions in 2025. Nineteen percent of firms plan to invest in a tax return automation tool, 18% plan to invest in a Beneficial Ownership Information Reporting solution and 17% are plan to invest in a client portal solution.
Based on the survey, 76% of large firms have positive views of AI adoption, with just 38% of micro firms having a positive view of AI.
A majority of firms, 60%, plan to use generative AI for client communications in 2025, 50% plan to use generative AI as a productivity tool or AI assistant and 48% plan to use generative AI to scan documents and data directly into a form or workflow.
Read more about accounting firms' technology goals for 2025.
This article has been updated to reflect the latest data from Wolters Kluwer.
