Among those well-acquainted with the Finance industry, it’s widely recognized that some of the most burdened employees within a business are those responsible for tracking financial transactions. The relentless pressure of consecutive deadlines, grueling 12- to 15-hour daily routines, monotonous filing and documentation tasks, obligatory meetings and conference calls, not to mention the unexpected barrage of phone calls and chat messages, creates an exhausting daily grind. And if that weren’t challenging enough, Tax and Finance teams must somehow find room for family time amidst their packed schedules.

However, as an astute observer with decades of experience in Finance, I maintain that this lifestyle, to some extent, persists voluntarily and clings to tradition. The burning of midnight oil is frequently synonymous with hard work, and in some departments, departing on time might be viewed unfavorably. However, as the seasoned workforce approaches retirement, to attract new talent, the Finance sector must transcend this antiquated mindset and embrace automation efficiency beyond mere email and basic Microsoft Excel usage.

Numerous factors contribute to the long hours worked by Tax and Finance professionals, often making it challenging to maintain a healthy work-life balance. Let’s explore some common reasons and alternative solutions to change the “no pain, no gain” mindset.

Reasons For Avoiding Technology	Alternative Views & Suggestions
1. Traditional Mindset: Many Tax and Finance professionals have been trained to complete tasks in traditional accounting methods for years. Shifting from familiar manual processes to new technology-assisted methods can be daunting and even perceived as inadequate.	As I mentioned earlier, this traditional mindset is deeply ingrained. However, for the entire organization to adopt technology and automation, leadership within Tax and Finance must lead the way and drive transformation. Embracing technology is the key to achieving a better work-life balance and attracting the next generation of talent.
2. Learning Curve: Using new technology can come with a steep learning curve.	Steep learning curves often arise from insufficient time dedicated to technology education. Balancing the demands of manual tasks with learning about technology can indeed be challenging. However, fostering a new Finance culture—one that prioritizes annual technology training—can yield substantial rewards. We must explore actionable steps to cultivate a culture of continuous learning within the Finance domain: Unlocking Microsoft Excel’s Potential: Although MS Excel serves as the backbone of the finance department, most finance professionals utilize less than 1% of Excel’s features. It’s high time we foster a technology training culture by ensuring everyone acquires more than just basic knowledge of this essential tool. Phased Implementation: Introduce technology gradually and on a small scale. This approach allows associates to experience its benefits without feeling overwhelmed. Championing Technology: Encourage technology adoption and recognize those who lead the way. Acknowledging tech-savvy individuals fosters positive change.
3. Cost: Implementing new technology can be expensive. Smaller departments might find the cost of new software, hardware, and training prohibitive.	Start Small: Begin by implementing technology in manageable increments. Choose specific areas where the impact will be most significant. High-Level Roadmap: Develop a strategic plan that outlines the stages of technology adoption. Consider factors like training, infrastructure, and user acceptance. Gradual Introduction: Introduce technology step by step, allowing associates to adapt without feeling overwhelmed. Focus on ROI: Prioritize areas with the highest return on investment. This ensures that efforts yield tangible benefits.
4. Security Concerns: Handling sensitive financial data comes with stringent security requirements. Tax and Finance professionals may be cautious about adopting new technologies due to concerns over data breaches and compliance with regulations.	Most security breaches have happened because security policies were not followed. Avoiding process automation in the name of security is unwise. By not following security policies, an employee can bring down the entire network by simply opening the wrong email attachment. Instead of not using email, we provide security training and implement safeguards. The same rules apply to process automation.
5. Lack of Individualized IT Support:  While the large corporate finance applications have the necessary IT support, the smaller automated routines that are not part of a larger platform lack the necessary IT support.	Routine maintenance and support are an unavoidable reality. Expecting completely care-free automation solutions is unrealistic. Consider the following steps:   Basic Maintenance Familiarity: Ensure that at least one team member is well-versed in the basic maintenance of any new process. Team Participation: Encourage your team to actively participate in the development of new tools. Professional Support: Explore solutions from firms like Tax Technology Solutions LLC, which provide solutions with free support.
6. Risk Aversion: Accountants, by nature of their profession, tend to be risk averse. The perceived risks associated with new technologies can deter adoption.	This traditional mindset is no longer sustainable. To alleviate the chaotic and stressful lifestyle in Finance, we must enact change at the leadership level and throughout the department. Embracing secure high-tech solutions over high-touch methods is the only way forward.
7. Overwhelming Choices: The rapid pace of technological advancement means there are numerous tools available. Deciding which ones are worth investing in can be overwhelming.	The rapid pace of technological advancement inundates us with numerous tools. Deciding which ones are worth investing in can indeed be overwhelming. Remember the buzz around RPA not long ago? Today, AI (Artificial Intelligence) and ML (Machine Learning) dominate conversations.   Practical Approach: Having the latest technology or embarking on massive IT projects isn’t always necessary. Sometimes, enhancing communication between departments can significantly improve processes. If technology is the route, even with just MS Excel, you can kick off automation today. Always start small and create a process improvement roadmap tailored to your needs and budget. Measure Beyond Money: Don’t gauge automation success solely by dollars spent on technology. Precious time and resources are at stake. Partner with experts like Tax Technology Solutions LLC, who specialize in thoughtful, effective automation planning and implementation.