Fuelling the Modern Accounting Practice with Automation:
Part 6: The Barriers to Automation Adoption
Barriers to Automation. I get it, Bots and AI sound great, but adopting it can feel like a big leap. Ultimately, innovation involves change, which is something that we humans often struggle with. And despite the benefits, many accountants are held back from embracing this technology by a few common roadblocks. This article is about tackling those barriers head-on. Whether it’s cost, time, or simply hesitation, let’s break down what’s stopping firms from adopting Bots and AI, and how to overcome them.
Top Barriers to Automation - The Usual Suspects
1. Cost concerns
Many firms worry that Bots and AI are simply too expensive or that they’ll face hidden costs down the line. But here’s the reality: any provider worthy of your custom offers scalable pricing along with the expertise to ensure you are successful. And the ROI from saved time and reduced errors should outweigh the investment, so look at the value of what you’re getting and not just the cost.
– Solution: Start with free and low-cost tools. Platforms like Beanie Bots, Zapier and Power Automate have free trials and entry-level options that let you experiment without a significant investment. Track your time savings to measure the ROI, which can help justify future spending.
2. Time to Implement
Implementing new technology always takes more time than you expect, and when you’re already stretched thin, this feels like a luxury you can’t afford. But Bots and AI doesn’t have to be rolled out all at once, so just start small and then scale.
– Solution: Begin with a single, manageable task for a single client. Choose a repetitive process, like matching bank items or financial reports, and automate those. Once you see the benefits, expand the scope to your other clients and to other areas.
3. Fear of the Unknown
For some, the hesitation is simply not knowing where to begin. Implementing Bots and AI can feel technically or operationally overwhelming, especially if you’re not that comfortable with tech.
– Solution: Take advantage of tutorials, demos, and support from your automation providers. Automation platforms worth your time offer extensive resources to help you get started, stay on course and extract real value the further you go. Don’t hesitate to ask for support or partner with a an industry expert who’ll offer genuine guidance.
4. Concerns About Data and Security
Many accountants worry about data privacy and security when using Bots and AI tools. This is a valid concern, especially given the sensitive nature of financial information.
– Solution: Choose tools with strong security measures like encryption and data compliance. Look for platforms with a solid track record in accounting, and understand their data security policies to make sure they meet your needs.
5. Perceived Lack of Revelance
Perceived Lack of Relevance
Some firms think Bots and AI won’t make a difference for their particular needs or client base. But these tools aren’t just for large firms, it’s for any and all practices looking to improve efficiency, profitability and productivity.
– Solution: Start by identifying the critical pain points in your firms processes. Bots and AI are so versatile, and there’s a Bot out there for nearly every task, whether it’s bookkeeping, records management, client onboarding and engagement, or financial reporting.
Making the Case for Bots & AI
The future of accounting is digital – your clients are digital, the government is still striving to be digital – so firms that don’t adopt Bots and AI will be at a competitive disadvantage to those who do. If cost, time, or fear is holding you back, take small steps and track the impact on your business. The benefits, from time savings to improved client satisfaction, will make the effort worthwhile.
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