While 37% of accounting firms are prioritizing data ingestion tools in 2025, the rest are either ahead of the curve or falling dangerously behind.
Where does your firm stand in this data-driven revolution?
According to the recently released “How does your tech stack stack up?” report from Accounting Today, firms are allocating over 21% of their budgets to technology, with 60% planning to increase IT spend in 2025.
But many are missing the critical foundation that powers everything else: quality data extraction and standardization.
What you’ll learn:
- A timeline showing how the right data strategy transforms your practice from day one to year five
- Why the data you use to power your workflow will make or break your strategic objectives in talent, client experience, and technology ROI
- A practical implementation roadmap that delivers 400% ROI with minimal disruption to your current operations
The Data Decision That Will Make or Break Your Strategic Initiatives
The accounting industry stands at a crossroads. Despite significant technology investments, the recent Wolters Kluwer “Future Ready Accountant” report cited data security and accuracy concerns as top barriers to the adoption of digital technologies.
Many firms are building their future on shaky foundations – investing in advanced tools without first solving the fundamental data problem.
Look at what firms are actually seeking from their technology investments:
- 41% want tools to facilitate document requests and collection from clients
- 41% need tools to automatically populate financial statements and reporting
- 37% specifically seek data ingestion tools
- 27% need tools that reduce manual, repetitive tasks
- 26% want improved efficiencies from AI and automation
Notice the pattern? These priorities all depend on one thing: quality data that flows freely through your systems.
As Pamela Mahoney, Director of IT at RKL, astutely observes in the report:
“It’s easy to think one software can do it all. But hunting for a tool that covers everything often leads to a complex and pricey system that’s more than you bargained for. You need to identify and prioritize your specific needs and then find solutions that tackle those effectively.”
This is why leading firms are focusing first on getting their data right. Everything else builds from there.
The Transformation Timeline: From Data Extraction to Audit Firm of the Future
Let’s break down exactly how solving the data problem cascades through your entire practice, from day one to establishing yourself as the firm of the future:
Day 1: Immediate Impact
- Talent: Junior auditors redirect 8+ hours per engagement from data prep to analysis. They’re immediately doing what they were hired to do.
- Client Value: PBC request lists reduced by 40%, dramatically improving client experience from the very first interaction.
- Audit Quality: Standardized data enables more strategic sampling and risk assessment from the start.
- Future Ready: Clean, standardized data begins flowing through your systems, with 20+ workpapers automatically generated at the click of a button.
“The time saved from processing and formatting the data can now be spent on other aspects of the Audit, saving time and headaches overall.”
— Zhong Ang, Senior Data Analyst at Grant Thornton
Week 1: Early Wins
- Talent: Staff experience more meaningful client interactions based on insights rather than data requests.
- Client Value: Clients notice and appreciate the streamlined process and reduced disruption to their operations.
- Audit Quality: Complete population testing becomes possible, reducing sampling risk.
- Future Ready: Integration with existing tech stack begins showing efficiency gains.
Month 1: Transformation Underway
- Talent: Teams develop analytical skills faster with more time for meaningful work.
- Client Value: Client conversations shift from document requests to strategic insights.
- Audit Quality: Risk-based methodology becomes truly data-driven with standardized financial data.
- Future Ready: Data-powered dashboards provide unprecedented visibility into client operations.
“The big AHA moment for me was seeing the Validis dashboard. For the first time, I could see the whole business in seconds.”
— Lori Warden, Assurance Practice Leader at ATA
Stop wasting time on data cleanup. See how quickly your firm can transform with Validis →
Year 1: New Normal Established
- Talent: Significantly reduced burnout and improved retention as staff focus on value-add work.
- Client Value: Higher client retention rates from delivering advisory value beyond compliance.
- Audit Quality: Continuous monitoring replaces point-in-time testing, with consistent data across all client engagements.
- Future Ready: AI and automation initiatives begin delivering on their promise with quality data.
“We’ve not only gained over 40% in productivity, but Validis has helped us create more rewarding roles for our auditors and a superior client experience. Our teams now spend less time chasing data and more time analyzing it to deliver valuable insights.”
— Satpal Nagpal, Audit Practice Leader at GHJ
Year 3: Market Differentiation
- Talent: Your firm becomes known as a desirable workplace where auditors do meaningful work.
- Client Value: Word-of-mouth referrals increase as clients experience the difference.
- Audit Quality: Your methodology and insights become a competitive advantage in the market.
- Future Ready: Data-driven advisory services become a significant revenue stream.
“Validis will totally change the way you do auditing forever.”
— Jim Bourke, MD, Head of Audit Transformation at Withum
Solving the Data Problem is Easier Than You Think
“It was almost a little too easy to implement,”
– ATA Auditor
Many firms hesitate to address their data challenges, thinking it will be a complex, time-consuming project. The reality is quite different:
- Implementation takes less time than it would take for you to prep data for just two engagements — many firms are up and running in less than two weeks
- Validis automatically creates 20+ workpapers at the click of a button, addressing the second-biggest issue firms want to solve (41% seek tools to automatically populate financial statements and reporting)
- 400% ROI from day one — based solely on efficiency gains, not counting strategic benefits
- Can be implemented alongside larger technology platforms like Caseware/Thomson Reuters
- No need to wait for a complete tech overhaul — start with data and build from there
The report found a striking correlation: firms with fully integrated systems are twice as likely to achieve significant revenue growth compared to those with less integrated systems. The right data foundation makes this integration possible.
Experience the simplicity of implementation for yourself. Schedule a personalized demo →
Your Journey to the Future: Join the 37% Prioritizing Data in 2025
With 37% of firms already prioritizing data ingestion tools, the question isn’t whether you should focus on data extraction — it’s whether you can afford not to.
As the accounting profession increasingly embraces AI and automation (32% of firms plan to implement AI/ML in 2025), the quality of your underlying data will determine your success or failure.
The firms prioritizing data extraction today are positioning themselves to:
- Win the talent war by creating more rewarding roles
- Deliver superior client value through insight-driven service
- Maximize their technology investments with a solid data foundation
- Transform from compliance providers to strategic advisors
The future of audit is data-driven. If firms want to keep up, they need to ensure they have the right data, in the right format, at the right time — because innovation happens when data flows.
Can you really afford to wait while others build their future on standardized, flowing data?
Take the first step toward becoming the audit firm of the future. Chat with our team today →
