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Skills and Entrepreneurship
Financial software ' s biggest value is better business decisions
by Richael O’ Brien
For many small and medium-sized businesses, financial software has traditionally been associated with bookkeeping, tax returns and compliance. Those functions remain essential, but they are no longer where the technology delivers its greatest value.
As businesses grow, their operations inevitably become more complex. Yet many owners are still managing that complexity through a patchwork of disconnected tools and manual processes. The result is more time spent on administration and pulling together information from different systems, and less time acting on it.
Modern financial technology can change that equation. By bringing financial information together and automating routine tasks, it can give business leaders a clearer, more timely view of performance.
Why businesses need to capitalise on growth
UK SMEs continue to show encouraging signs of resilience. Intuit QuickBooks ' Small Business Index found that UK employment increased by 9,000 jobs between June 2025 and June 2026, and 76 per cent of SMEs said they are looking to scale their business.
Yet ambition alone is not translating into results. Intuit QuickBooks ' Growth Gap report found that UK SMEs leave 58 per cent of potential growth opportunities unrealised each year – equating to around £ 121,000 in lost revenue per business.
The reasons are rarely a lack of demand. Businesses point to internal challenges that limit their ability to act, such as losing an average of five to six hours every week to decision fatigue, as a result of fragmented information and unnecessary friction at the very point where businesses need clarity.
The impact of digital tools on business success
This is where modern financial software is making the biggest difference. Rather than simply recording transactions, connected financial platforms bring together accounting, payroll, payments and reporting into a single view of the business. By automating repetitive tasks and reducing manual administration, they free up time while giving leaders real-time insight into cash flow, profitability and performance.
The impact is already visible. Two in five SMEs now save between five and eight hours each week by automating routine tasks and streamlining workflows. Meanwhile, 80 per cent of business leaders say AI helps them to delegate work more effectively. Businesses using AI across finance, marketing and operations are the most likely to fall into the " high-readiness " category for growth.
Intuit ' s AI Impact Report reinforces that trend. Today, 77 per cent of businesses using AI say it has improved productivity, up from 39 per cent in July 2024. In the UK, businesses are also two-and-ahalf times more likely to say AI has increased hiring than reduced it. Sophisticated digital tools are helping leaders spend less time gathering information and more time making decisions.
Better technology makes accountants more valuable
Technology is also changing the relationship between businesses and their accountants.
Accountants remain indispensable for maintaining accurate books and meeting compliance obligations. Yet as more routine financial work becomes automated, they have greater opportunity to focus on something many business owners need just as much: advice.
That can mean helping leaders understand their financial position, manage cash flow, interpret trends and assess opportunities for growth. The fact that 72 per cent of businesses work with a qualified accountant shows how central that relationship remains.
“ Two in five SMEs now save between five and eight hours each day by automating routine tasks and streamlining workflows
With less time required for routine administration and historical reporting, accountants can spend more time helping clients understand what the numbers are telling them and what they should do next.
Looking beyond compliance
Compliance will always matter. However for today ' s SMEs, it should be the starting point rather than the destination.
The wider value of financial software lies in helping businesses turn financial information into action. Combined with accountants who can interpret that information and provide strategic advice, better technology can help leaders make decisions faster, respond to opportunities with greater confidence and build stronger foundations for long-term growth.
Richael O’ Brien is staff product manager at Intuit
www. quickbooks. intuit. com / uk