Empowering Accountants to Thrive in 2025
At FYI, we believe in empowering accountants to focus on what truly matters. With the accounting profession on the brink of transformative change, our latest webinar offered an exclusive look at how FYI is equipping practices to finish 2024 strong and embrace 2025 with confidence.
From streamlining daily workflows to introducing innovations like AI-powered insights and automation, this session explored how accountants can simplify operations and position their practices for lasting success. Here’s a recap of the highlights.
Laying the Foundation for Success
The accounting industry is at a crossroads. Advancements in automation, efficiency tools, and AI are reshaping the profession, yet many practices remain hesitant, caught in cycles of waiting—for the perfect moment, the right tools, or greater clarity.
But here’s the reality: waiting comes at a cost. Over the next few years, those who act now and build a strong foundation will lead the way in operational efficiency, client satisfaction, and growth.
At FYI, we’ve seen firsthand how transformative these changes can be. After implementing our own efficiency tools, we achieved a 35% productivity boost across support and operations—in just a matter of weeks. It’s proof of what’s possible with the right systems in place.
We understand the hesitation. But our mission is to help you overcome these barriers and show that change doesn’t have to feel daunting—it can feel empowering. That’s why we’ve built FYI around three key pillars to make this journey seamless:
- Security and Trust: Trust is everything in accounting. It’s not just about safeguarding your data—it’s about knowing your tools and partners are reliable. FYI is independently owned, with a steadfast commitment to supporting your practice into the future. We’re not pivoting; we’re here to innovate alongside you.
- Proven ROI: Change should deliver results, and FYI consistently does. With over 30,000 accountants relying on FYI every day, practices have reported significant efficiency gains, allowing more time for high-value tasks and deeper client relationships. It’s not just a promise—it’s proven.
- Easy Onboarding: Adopting new tools doesn’t have to be a disruption. FYI’s onboarding process is seamless, with clear steps and dedicated support to ensure your team transitions with confidence. We’re here to make embracing change simple and stress-free.
Reflecting on 2024
With the foundation laid, let’s look at how FYI has delivered on our mission to empower accountants and simplify their workflows. Over the past year, we’ve introduced significant innovations that not only address the challenges practices face but also set the stage for long-term success.
At a high level, 2024 has been a transformative year for FYI:
- Introducing FYI Elite: The newest plan within the FYI platform, crafted to provide a cohesive solution for document, employee, and practice management.’
- Stronger Client Relationship Management: Enhancements in linking client relationships within FYI have made managing and accessing client data more intuitive.
- Dynamic Merge Fields: A standout release that streamlines workflows by dynamically pulling data into documents, emails, and tasks.
- Enhanced Integrations: Expanded partnerships with top app providers have strengthened FYI’s ecosystem, enabling seamless workflows.
- Collaborate Portal: Our client-sharing feature empowers practices to securely share and co-edit documents, simplifying communication and accessibility.
- Practice Sync Tool Investments: Helping more practices transition from desktop to cloud, this tool provides a phased approach to modernisation—starting with online document management and growing to full practice management.
These advancements reflect our commitment to equipping practices with the tools they need to thrive. Among these, FYI Elite stands out as a cornerstone of our efforts to support large and complex practices.
A Closer Look at Elite
FYI Elite represents a new way forward for managing large and complex practices, empowering high-performance accounting teams to operate efficiently and effectively. It’s where document and practice management truly unite—driven by FYI’s advanced process automation and workflow capabilities. This is the evolution of practice management, purpose-built for the unique needs of large and complex firms.
- Time & Billing: Time and billing are core to any accounting practice, and FYI makes it easier than ever to navigate chargeable hours with precision. This feature enhances billing accuracy, streamlines financial operations, and gives you greater control over your revenue.
- Reporting: Unlock tailored insights to support strategic decision-making. With Elite, practices can dive deep into performance—whether it’s across the firm, specific teams, or individual users—empowering you to make informed choices with confidence.
- Client Maintenance: Managing client relationships is the backbone of every practice, and Elite makes it seamless. From onboarding new clients to maintaining up-to-date data, this feature ensures efficient communication and a single source of truth, strengthening client relationships along the way.
- Employee Management: Keeping your team running smoothly is critical, and Elite offers tools to do just that. From onboarding new team members with automations to tracking their productivity, Elite allows you to efficiently manage your team—all within one integrated platform.
And this is just the beginning. The Elite suite will continue to expand, delivering even more tools to meet the needs of high-performing practices like yours.
On the Horizon: FYI in 2025
As we look ahead to 2025, FYI’s vision is clear: to continue transforming accounting practices by empowering accountants with tools that save time, enhance collaboration, and unlock new possibilities. The innovations on the horizon are designed to build on the foundation we’ve established, ensuring practices are ready to embrace the opportunities of tomorrow.
- AI-Powered Workflows: FYI is bringing the power of AI to your practice, but not as a standalone tool—AI will be embedded within your daily workflows, where it matters most.
- Customisable Forms: A game-changer for client collaboration, FYI’s forms engine will allow you to automatically sync submitted data back into FYI, reducing errors and saving time.
- PDF Editing: Convert, manage and manipulate pdf all within FYI
- Deepened Integrations: Building on FYI’s strong ecosystem, 2025 will bring even greater flexibility and insights integrating with Microsoft Power Automate and Power BI
- Expanding Automation with Auto-Time: Automate up to 70% of timesheet entries, capturing activity across meetings, tasks, and communications seamlessly.
The Time to Act is Now
The cost of staying still is far greater than the cost of moving forward. The tools, the innovations, and the transformation shaping this profession—it’s all happening now, and it’s happening fast. Waiting for the perfect moment only risks falling behind.
This is the defining moment for the accounting industry. Over the next few years, practices that take steps today to embrace change will reap the benefits of increased efficiency, stronger client relationships, and sustainable growth.
By starting now, you position your practice to thrive—not just for 2025, but for the future beyond. Whether it’s adopting foundational tools like document management, automating repetitive tasks, or leveraging FYI Elite for practice management, every step you take builds momentum toward long-term success.
Take the Next Step
If you’re ready to transform your practice book a session with one of our experienced new business managers. With their deep industry knowledge, they’ll guide you through the steps to make smarter, more impactful changes for your practice.
The future of accounting is here. The only question is: Are you ready to seize it?
To learn more, watch our recent webinar below.