Majority of UK Accountants are almost “Paperless”

A significant percentage of UK Accounting firms have embraced the paperless world. A recent research by CCH revealed that over three-quarters (79%) of all accountancy firms have implemented some elements of a paperless office system.

The firms that have gone paperless have highlighted what proved to be the major hurdles in their way of taking their firms paperless. According to about one third of them, the senior staff in their offices were the most difficult to convince about the benefits of going paperless.

The accountants have cited a lot of reasons for going paperless including easier access to client files, savings in storage and administrative costs and reduction in human error. I have summarized all of the above reasons for going paperless into one factor and that is a tremendous, I mean tremendous, increase in the profitability of a firm.

I believe the savings translate into more than 25% increase in profitability of the firm. I believe there is no system that would cost you as much as 25% of your profits to implement. In fact, I have claimed in my other articles that a paperless office in a small CPA firm can be implemented for less than a couple of thousand dollars.

I believe our UK counterparts are doing very well in terms of adopting the paperless world in the accounting industry.