SBCA is a long-established, family-owned chartered accountants firm based in Preston. Led by owner Chris Bond, the firm consists of a dedicated team of 11 professionals.

Chris is navigating the challenge of how small businesses like his can keep pace with the rapidly evolving sector by integrating digital technologies, while maintaining the human touch that sets them apart.

The Digital Acceleration in Professional Services (DAPS) inception sessions provided Chris with valuable insights into the key challenges his business and the broader accounting sector face when introducing new technology.

"Those early discussions grounded my thinking, especially around two critical issues: people and AI," Chris said. "In today’s fast-evolving accounting landscape, there’s a shortage of skilled professionals, and for small firms like mine, the cost of talent has become prohibitively expensive.

"Then there’s the challenge of staying competitive with technology. We simply can’t afford to bring in a CTO to lead R&D. Any investment we make has to be targeted and add real value for us and our clients."

The Digital Toolbox session gave Chris a fresh perspective on how AI can be leveraged to streamline traditional tasks, particularly in statutory and compliance work. Inspired by the programme, Chris attended an industry event where he learned how other firms were already using AI-driven software to automate processes like bank reconciliations and even create custom-designed bots.

"Some of the concepts were mind-boggling, but it made me realise we need to act now or risk falling behind," Chris said. "Automation and AI aren’t futuristic ideas anymore - they’re reshaping the industry right now."

Back at SBCA, Chris and his team began testing out AI tools to address internal challenges. They implemented chatbots that interact with the HMRC website to answer routine questions, saving the team significant time and effort. Though the initial results were promising, Chris remains cautious.

"While automation can handle routine tasks, the real challenge is maintaining the human element that makes accounting meaningful," he said. "AI will take over many of our day-to-day tasks, but it’s still our job as accountants to bring emotion and context to the numbers."

"Our mission is to let technology handle the raw financial data, but it’s the accountant’s role to interpret that data, providing the context and meaning that truly resonate with clients."

SBCA is also exploring ways to enhance efficiency by integrating a Customer Relationship Management (CRM) system with their practice management software, aiming to overcome data inconsistencies and support growth. With limited resources, Chris is focusing on gaining deeper insights into how clients prefer to interact with technology.

"We’ve considered apps for communicating with clients and sharing financial data more easily, but research shows that client engagement with apps in our sector is low. We need to give them what they actually want, not what we think they need."

Insights from the Realising the Future Firm session, which focused on designing new products, services, and processes, have inspired Chris to think innovatively about how financial information is presented.

"The big driver for us is that while AI will change many of the day-to-day tasks within accountancy, the human element - the ability to bring meaning, emotion, and context to the numbers - will always be indispensable," Chris explained. "Clients aren’t excited about raw data; they’re excited about what those numbers can help them achieve, whether that’s buying a Ferrari or a house. By making financial data more relatable through digital tools, we hope to make clients feel more invested in their financial progress, ultimately leading to deeper engagement with our firm."

DAPS is part-funded by the UK government through the UK Shared Prosperity Fund and is delivered by Lancaster University as part of the Lancashire Universities' Innovation Programme.

The UK Shared Prosperity Fund aims to improve pride in place and increase life chances across the UK by investing in communities and place, supporting local business, and developing people and skills. For more information, visit UK Shared Prosperity Fund Prospectus.

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