Over the past decade, accounting firms have experienced significant shifts in their operational efficiency, workforce dynamics and strategic investments. Three key metrics collectively illustrate this evolving landscape:
- Technology spend as a percentage of revenue
- Professional staff charge hours
- Equity partner charge hours
From 2015 to 2024, accounting firms increased their technology spend from 3.89% to 5.25% of total revenue, marking a steady rise over the ten-year period. This upward trajectory reflects a profession-wide shift toward greater reliance on technology, with firms investing in automation, cloud-based platforms, AI-driven analytics and integrated practice management tools. As technology budgets grew, firms seemed to prioritize initiatives that could improve efficiency, enhance client engagement and scale operations through digital transformation.
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