Why low-value work clogs your workflow

Tax and advisory firms often have complex workflows that involve doing many tasks manually in order to get the day’s work done. These small, burdensome duties fall into a category known as low-value work because they typically do not generate revenue for your business. This type of work varies depending on your firm’s focus. Perhaps you generate a high volume of returns with a low number of employees, or prioritize being a true partner to business owners by providing reporting, analysis, and planning.

As a tax-focused firm, you’re likely familiar with time-consuming tasks that clog up your workflow. Think about manual data entry, adding new clients to your software, converting data from one software program to another, and transferring information from paper documents into your systems. Then there is the ever-present duty of following up with clients and sending them periodic reminders about what you need to meet important filing deadlines. All of this leads to complex workflows, data entry errors, and above all, wasted time.

Similarly, tax and accountant advisors may find themselves in the cumbersome process of manually pulling data for clients from their software. Working across multiple mediums, including balancing different bookkeeping solutions, and incorporating information from physical papers into your digital work only adds to the complexity.

Among knowledge workers, repetitive mundane tasks such as data entry and filing make up 62% of their workday, according to Asana’s Anatomy of Global Work Index. These might be among the tasks traditionally assigned to newer members of the profession such as recent college graduates, or simply may be a seemingly unavoidable part of the job.

But they don’t have to be. With streamlined software solutions that facilitate efficient processes and logical systems, low-value tasks can be easily offloaded.

Low-value work inhibits your talent pipeline

Even with increased attention to using technology efficiently and productively, senior-level tax professionals may still find themselves in the weeds with low-value tasks, especially if there are no junior members at their firm. It may seem obvious, but a firm works best when qualified team members are doing work at and above their level of ability, rather than using their time to complete low-value and often irritating jobs. The problem with low-value tasks, aside from putting stops in your workflow, is that they interrupt the profession’s talent pipeline.

According to Tri-Merit Specialty Tax Professionals’ annual CPA Career Satisfaction Survey conducted in association with Accountants Forward and HB Publishing & Marketing Company, mid-career middle managers, senior managers, and manager-level staff were the accountants least satisfied with their careers. In fact, according to the Finance and the Great Reshuffle report from the AICPA & CIMA in cooperation with PwC, almost a quarter of finance workers (24%) said they want to change their jobs within a year, while over half of respondents (52%) said employee turnover within their organizations was increasing.

Part of the problem for tax professionals? They do not have enough junior staff to handle basic-level work. When these mid-career accountants reach their wit’s end, they’re susceptible to quitting their firms or leaving the field altogether. But there’s a simple way to prevent this from happening.

Download the white paper “Transform your firm’s tax workflow: 5+ proven strategies to eliminate low-value tasks.”