Tech

EY and ACCA encourage sector to ‘embrace’ digital tech

Embracing digital technologies is the “key” to transforming future work for accountancy and finance professionals, according to EY and ACCA

It comes as the two group’s jointly published their ‘Meaningful work for the digital professional’ report, based on a global survey of 4,281 respondents and 55 interviews conducted across April and May this year. 

Respondents were benchmarked against a group of survey respondents named ‘leaders’, who scored highly across a range of categories, including the use and adoption of technology in the workplace. 

Leaders typically worked at organisations that “outperformed” in adjusting their delivery model during the pandemic, with 95% saying their organisations were well prepared for using technology.

The report revealed that there is “room to increase” levels of digital adoption across the sector. 

Community technologies, such as social media, saw the highest adoption rates at 55%, while next-generation computing, such as Cloud technology, was second highest at 36%. 

The largest gap in adoption rates between leaders and the rest of respondents was within the data technologies category, however.

Over the next ten years, respondents said they expect engagement with digital and technology to reach around 90%.

Report author Narayanan Vaidyanathan said: “While a fast-evolving and automating world presents challenges, for those willing to engage there are wins to be had.

“The digital landscape presents significant opportunities for accountancy and finance professionals to achieve meaningful work experiences – ones that are driven by purpose and which afford the potential to stretch oneself in new and fulfilling ways.”

Ruchi Bhowmik, global vice chair at EY, said: “Embracing new technology will help ease many of the pressures on today’s accountancy and finance professionals from increasingly complex, but routine tasks, issues and bring a new sense of purpose to their roles.

“At EY, our professionals are already leveraging technology and analysing data in a way that helps elevate their daily work, build essential skills, and lead to rich and meaningful careers.”

Helen Brand OBE, chief executive of ACCA, said: “Satisfaction in work is a fundamental building block of a happy and successful life. 

“For accountancy and finance professionals, digital tools offer new possibilities for meaningful work that will outlast the economic challenges posed by the global pandemic.”

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