Time—it's our most precious resource, and at Accountex Summit Manchester 2024, it emerged as the thread connecting many discussions and presentations. From rethinking workflows to reclaiming lost hours, time management was at the heart of almost every session.
Below, we’ve rounded up five key lessons we learned, focusing on how accountants and bookkeepers can better manage and use their time to better support clients and make space for strategy and reflection.
1. Make routines for change
Aaron Harris, CTO of Sage, kicked off the summit with a powerful keynote on continuous accounting—a departure from the traditional accounting cycle. “Continuous accounting” eliminates the dreaded month-end close by enabling real-time updates and reporting.
This approach allows businesses to make informed decisions at any moment, rather than waiting for period-end reports.
Harris shared new research from Sage, revealing that by 2030, 90% of professionals expect to use continuous monitoring and anomaly detection. Additionally, 70% anticipate incorporating real-time data into their processes, and 65% expect to rely on AI-driven insights.
This message underscores the need for reliable data and payment solutions that improve cash flow visibility. Payment automation, integrated directly into the business's ecosystem, provides up-to-date financial data, empowering accountants to establish routines that enhance efficiency and make room for strategic decision-making.
Routines—not cycles—will be the key to managing change.
2. Value your time
In a standout session, Paul Holbrook addressed an all-too-familiar struggle: time wasted on tasks that don’t add value. You could see that this was a hotly anticipated topic, the talk was packed with standing room only.
On average, he claimed that professionals lose 23% of their time to what Holbrook dubs "grey time"—moments spent on inefficient activities like unnecessary emails, poorly run meetings, and, of course, doom-scrolling LinkedIn.
One of Holbrook's key takeaways was simple yet powerful: Plan your work with intention. While the session emphasised individual responsibility, the broader lesson is applicable at an organisational level too. By setting clear objectives and being mindful of how time is spent, professionals can ensure they’re devoting their energy to high-value activities that support their overall goals.
The challenge isn’t just about managing time, but also about prioritising work that aligns with long-term objectives. When you may allow grey time to creep in, it diverts from what truly matters, creating a disconnect between effort and impact. By staying focused and intentional in your practice, you can direct time toward tasks that not only add value but also move the needle toward your key objectives.
3. Win back time through automation
Steve Cox and Jenny Strudwick of IRIS, alongside Katie Hawking of Dext and Claire Bartlett of Arden Bookkeeping, took a no-nonsense approach to client management. They emphasised the importance of early data collection, setting boundaries with clients, and fostering proactive communication.
This view was reinforced by Kat Bond’s presentation for Xero where she emphasised how digitalisation will help accountants, bookkeepers, and small businesses get back to doing the work they love.
These conversations highlighted a crucial point: Time saved in client management can be reinvested in growth and strategic work. A tech-enabled practice—supported by tools like CRM systems, payment automation, and seamless workflows—empowers firms to manage larger client portfolios without sacrificing quality.
By using automation tools, such as those offered by Dext and Modulr, accountants can win back hours otherwise spent on manual data entry or chasing clients for payments. A well-organised workflow not only improves efficiency but also elevates the entire client experience, creating a win-win situation for both the business and its customers.
4. The work you do defines your relationships
Nick Robinson’s talk on difficult workplace relationships touched on an interesting dynamic: The small tasks we do (or avoid) often set the tone for larger working relationships. Robinson cited an example of a team he had supported whose IT systems took too long to log in at the start of each day. This daily struggle created resistance, kicked the day off on a bad note, and impacted not just productivity but morale.
The lesson here was clear. If the work you do is filled with friction, it affects your relationships with both colleagues and clients.
Eliminating these pain points—whether through faster processes or better tech adoption—can transform working environments.
Through Modulr, businesses can automate time-consuming processes like payroll and accounts payable, freeing up valuable time to focus on more strategic, relationship-building work.
5. Rethink how you spend your time
In a world where efficiency is king, it’s easy to get caught up in the day-to-day and forget to step back and think about what truly adds value.
Grace Hardy, founder of Hardy Accounting, offered a fresh perspective during her talk, urging professionals to reconsider how they spend their time. Rather than just "doing the do," accountants should focus on building relationships and trust with their clients.
Hardy’s insights echoed a broader trend in the industry—what Will Farnell calls “relationship accounting” in his book The Human Firm. Hardy’s approach, which includes creating free content like eBooks and videos to attract and educate clients, provides a model for how to generate value beyond the numbers.
With AAT reporting a 65% increase in licensed accountants and bookkeepers aged 18-24 over the past five years, it's clear that the next generation is eager to rethink how they work. Technology plays a key role in this shift.
Final thoughts
The overarching theme of Accountex Summit Manchester 2024 was clear: Time is not just money; it’s opportunity. The way we manage our time, automate tasks, and streamline processes can redefine success for accountants and bookkeepers.
As the industry shifts towards continuous accounting, real-time insights, and AI-powered tools, those who master time management will find themselves at the forefront of the profession.
If you're ready to take the next step and streamline your business with better payment solutions, book a demo with a Modulr payments specialist today. Let us show you how you can win back your time, one payment at a time.
