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March 2023 - Professional Services

Six in 10 accountants approach problem solving creatively: A survey of accountants conducted on behalf of software company, Dext, has revealed that 61% consider themselves lateral thinkers, meaning they approach problem solving in a creative way, compared with 36% who consider themselves convergent thinkers. The latter occurs when the solution to a problem can be deduced by applying established rules and logical reasoning.

The research surveyed 250 accountants and bookkeepers from companies across the UK to "evaluate the three modes of thinking in the accounting industry".

It also found that 6% of respondents identified as 'divergent thinkers' -- a thought process or method used to generate creative ideas by exploring many possible solutions.

In another study by Dext that surveyed 300 UK accountants and bookkeepers it was revealed that 40% of accountants spend half their day performing manual tasks, with 30% saying they do not have the tools to automate processes to save time. When asked for their thoughts about accounting and technology, 43% said they believe accounting can be made easier through technology and two in five (40%) said they believe that the use of technology is going to increase in the profession. 

Manual data entry and record keeping was named as the most painful process by those who had more than 15 years’ experience in the sector, found the research.

Research by Dext also found that 44% of respondents began their career because they were interested in finance and business, however, one in four believe an A-level in maths is necessary to pursue a career in accounting.

Sabby Gill, CEO of Dext, said of the research:

“With the right investments, automation can take on the hefty load and free up time for accountants to focus on what’s really important: providing actionable advice to clients to ensure they are thriving in the current landscape.”

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