With 45% of accountancy firms and in-house finance teams facing talent shortages, 2025 is going to be a critical year for many. Financial transformation is going to be the watchword. The conditions companies are facing will push them to speed up the transformation of their operations, modernising their financial processes while strengthening their company culture and vision.
The year ahead will likely see a continuation of the current period of instability, posing serious challenges for accounting teams looking to grow their business. The impact of global geopolitics is hard to predict which, twinned with the UK economy’s persistently slow growth rate, means companies will need to innovate to succeed – embracing automation, AI, and cutting-edge compliance processes.
It’s not all about the macro trends, though. On an individual level, our research this year has shown that employees are feeling the strain, and business leaders will need to take that seriously in 2025. The talent shortage is a vicious cycle – the harder it is for companies to find and retain talent, the more pressure remaining team members end up having to shoulder. The right technology can play a crucial role in reducing that stress and breaking the cycle.
Alongside those real challenges, there are real opportunities. The accounting business is changing fast, and it’s a great time to be in the industry. As we draw 2024 to a close, here are five key things accounting firms can expect to see in the new year.
Financial Transformation moving up the agenda
We’ve already looked at some of the reasons why financial transformation is going to be critical in 2025, but that doesn’t mean every CFO and accountant in the business is rushing to deliver. Based on our research 60% of accountants and CFOs still do not consider it a top priority – mainly because most don’t truly know what it means for their business, so education is key.
In essence, companies should aim to align their finance functions more closely with their organisational goals, enabling accountants to bring their expertise and insight to the decision-making process. As the finance function’s strategic role grows, there will be an urgent need for agile, digital tools that enhance collaboration and efficiency. For CFOs, embracing this transformation is essential to navigate new complexities with precision and effectiveness.
Accountancy teams will embrace new tools for the future
The talent gap present in the industry is unlikely to change any time soon. It takes time to train people, and accounting has a bit of a PR problem – its status as a secure, skilled job is battling with perceptions of stress and burnout.
As a result, in 2025, leaders will increasingly look to keep accountants motivated, engaged, and fulfilled as the declining population of new candidates continues to heap pressure on accounting teams—a trend that’s unlikely to reverse anytime soon.
It’s essential that business leaders retain their finance professionals by fostering a fulfilling work environment. They can help by upskilling accountants and adopting technologies to reduce mundane and repetitive tasks. CFOs can play a key role by equipping their teams with future-focused skills, blending technology with strategic insight to drive real value within their organisations.
AI will power Tansformation in 2025
Transformation in 2025 won’t be limited to removing internal silos and improving staff retention, crucial though those things are. We’re also going to see AI helping accountants become key players in driving business success. The real value of AI will become apparent this year. For finance teams, it will act as a copilot, automating routine tasks and giving time back to accountants to become strategic assets for their organisations.
This shift will help the industry tackle talent shortages with agility, turning challenges into opportunities for growth. Embracing AI isn’t just about keeping pace; it’s about unlocking accountants’ full potential as key players in driving business success.
Compliance will become a value-generating asset rather than a tick-box exercise
Compliance and risk, when managed properly, can drive real value for organisations. In 2025, the nuanced relationship between compliance, reputation, and risk means it’s likely to move up the corporate agenda.
Technology can be a real driver here, and compliance strategies are fundamental to the larger accounting transformation journey. By taking a more holistic approach to compliance, rather than treating it as a mere check-box exercise, compliance can become a valuable asset. Currently, only 16% of organisations take this strategic view, revealing a significant opportunity for those willing to innovate and elevate their compliance efforts.
Overall, accounting businesses may be facing rough seas, but with the right tools and investments in place, they can unlock new value in 2025: transforming financial processes, improving employee satisfaction, and stepping further into their growing role as strategic advisors.
- Artificial Intelligence in FinTech
- Digital Payments
