AI-driven productivity freeing up time for accountants to add more value

Forty-two per cent of accounting practices perceived AI as a leading time-saving tech, higher than practice management software (40 per cent), the report found. In addition, the data revealed that 87 per cent of high-growth firms used AI to increase productivity, and 82 per cent of these firms used it to reduce administrative workload.

Further, the data found that AI emerges as the leading driver of time savings across accounting practices. Its data revealed that 72 per cent of firms said that they are using AI mostly for reducing administrative workload.

In addition, high-growth firms take a strategic approach to technology adoption, and beyond AI (46 per cent) these firms branded workflow automation as a key time-saving tool (37 per cent), placing greater value on data analytics (17 per cent versus 16 per cent overall), customer relationship management (22 per cent versus 13 per cent overall), and email marketing (17 per cent versus 11 per cent overall).

The data found that while reducing administrative workload is a core driver (82 per cent), high-growth firms use AI to boost productivity (87 per cent), improve client communication (58 per cent), and analyse large datasets (42 per cent). This demonstrates how efficiency gains are translated into scalable growth.

Agile Market Intelligence director Michael Johnson said that the way that high-growth firms set themselves apart is through the way that they view AI, not just to cut admin time, but as a level for scale as well.

The findings revealed that 59 per cent of high-growth firms used their time savings to attract new clients, 57 per cent to streamline processes, and an additional 57 per cent to improve internal processes. More than one in two of moderate-growth firms prioritised delivering advisory or consulting services to existing clients by using the time that they saved while on the job. 

In addition, six in 10 conservative-growth firms (61 per cent) were likely to use their time savings to improve personal time and work/life balance.

“How time is used ultimately mirrors a firm’s growth ambition. High-growth firms reinvest time to scale, moderate-growth firms use it to deepen relationships, while conservative firms prioritise balance,” Johnson said.