Among both public and private accounting firms, where many CFOs are turning to for services in areas like auditing and tax, new data indicates that nearly all aren’t utilizing technology efficiently. This contradicts the sales pitch and marketing efforts that are being constantly being pitched to finance leaders.
CPA.com and Bill’s 2025 Growth and Technology Survey found that 97% of the accounting firms of the 400 accounting firm leaders and practitioners they surveyed said their firms are not using technology efficiently. Though the larger firms have talked extensively about technology efforts in areas like auditing and the CFO’s role in digital transformation, the data suggests some accounting firms may be better at hyping their philosophy around technology than they are at actually using it.
Accounting’s automation inspired marketing tactic
Though most of those surveyed say that technology is being used inefficiently, its importance is not being dismissed. More than 7 in 10 (71%) of accounting firms in the survey said seamless interactions with innovative tools are essential to client retention. One of the disconnects between the importance of the client perspective and implementation in practice may be a data integration issue, as only 37% of firms said they require their clients to use their tech stack.
The importance of streamlined tech stacks between clients and customers is reflected in the data. Standardized tech stacks are 38% more likely to expand accounts payable services, thus, they are more likely to be able to handle workloads with a larger sense of reliability.
Seventy-three percent of respondents also said their firms have a roadmap to adopt new technologies. This is a mixed signal, largely because most already don’t know how to be efficient with what they have now. However, for those with streamlined tech stacks, according to the data, they may be able to take on more work and, from a finance chief’s perspective, be easier to work with.
CFOs know all too well the importance of sound data and strong integration processes, and if accounting firms are overselling their technology capabilities without accounting for the proper data protocols before implementation, this can lead to overselling or overpromising of services and results. If automation becomes more of a marketing term than an operational change, CFOs who aren’t aware may be duped and end up doing business with firms that have bottlenecks caused by inconsistent data or inefficient technology-inspired workflows.
Nipping a potential issue in the bud
This trend isn’t just a workflow issue. It affects budgeting, forecasting and decision-making at the highest level in corporate finance, especially as CFOs aim to be more strategic and either use outsourcing or technology to do traditional finance tasks.
Many of these accounting teams are feeling the same pain points around data and analysis as CFOs. Forty-three percent said they need better tools for data analysis and reporting, areas where many technology pitches are centered around. The need for real-time data is there too, with over a third (35%) saying they want better access to real-time financial data of their clients.
If the company’s outsourced accounting firm is manually stitching together systems behind the scenes, CFOs and their finance teams may spend more time cleaning up after them than doing the originally intended goal of collaboration with others on business strategy. Technology decision makers around finance must be aware that innovation in a sales pitch can turn out to be a layer of complexity, and push firms who pitch technology on the fine details of their digital innovations.
