Accounting has long since left its reputation as a boring space for little more than bookkeeping. As the industry evolves, accountants are becoming valuable strategic advisors to their businesses.
With the rise of AI and the growing demand for open banking, the accounting profession is undergoing seismic shifts.
These shifts aren’t just about keeping up — they’re about staying competitive in a landscape that demands efficiency, accuracy, and adaptability. Firms that embrace these trends gain a competitive edge and position themselves for long-term success.
In this article, we’ll explore the top accounting trends shaping this coming year and beyond. Whether it’s leveraging automation to reduce repetitive tasks, adopting blockchain to secure financial data, or integrating tech stacks for seamless collaboration, these trends highlight how modern accounting is evolving to meet new challenges.
What are the current trends in accounting?
The past year has been pivotal for accounting, full of technological advances, talent challenges, and changing client expectations.
Automation has emerged as a leading trend, with firms adopting AI-powered tools to handle repetitive tasks like data entry and reconciliation. These tools free up time for professionals to focus on strategic, value-driven work — something that’s become increasingly important as accounting teams shrink due to ongoing talent shortages.
Despite the decline in fresh finance pros, efficient accounting systems have made it a good time to be an accountant. You can make a bigger impact with far less manual effort, and you get to shape how we use brand-new technologies.
Cloud-based solutions have also gained traction, enabling teams to collaborate remotely and access data securely from anywhere. This shift has been essential for a rise in hybrid and distributed workforces. At the same time, data security has taken center stage, with firms implementing stronger measures to protect sensitive client information in the face of rising cyber threats.
Blockchain is making waves as a tool for transparency and accuracy in transactions, while open banking is reshaping how financial data is shared and used. These trends highlight the profession’s shift toward technology-driven solutions that enhance efficiency, security, and client services.
Top accounting trends in 2025
This coming year is sure to be an exciting one for the accounting industry — and a lucrative one for those who are leading the way. Here are some of the top trends to keep an eye out for.
1. Smaller accounting teams
The accounting profession continues to grapple with a lack of candidates, which poses challenges for companies of all sizes. A recent report highlighted that 83% of CFOs report a shortage of accounting talent.
Looking ahead, industry experts predict this trend will persist. The American Institute of Certified Public Accountants (AICPA) estimated that about 75% of all Certified Public Accountants (CPAs) reached retirement age in 2019. The issue is made worse by a steady decline in the number of accounting graduates and CPAs entering the field.
To address this, a majority of tax and finance leaders are factoring professionals with no university degree into their recruitment strategy. Additionally, many leaders in the accounting space are calling on the AICPA to reduce requirements that may be seen as a barrier to entry.
At the same time, accounting teams are becoming leaner, focusing on leveraging technology to maintain productivity and accuracy. Companies are adopting cloud-based solutions and automation tools to ease the accounting shortage and help smaller teams manage workloads effectively.
2. More reliance on accounting automation
Accounting automation is becoming a cornerstone of the profession as businesses navigate the dual challenges of a talent shortage and increased regulatory complexity. Automation tools can handle repetitive tasks like data entry, accounts payable processing, and reconciliation, freeing up teams to focus on high-value strategic work.
Businesses are increasingly turning to software solutions that integrate with their existing workflows to drive these results. The financial automation market is estimated to grow at a 14.2% compound annual growth rate from 2024 to 2032, from an already considerable $6 billion in 2023.
3. Adoption of AI tools
AI is reshaping the accounting landscape, offering capabilities far beyond automation.
For example, Netgain’s NetLease can abstract information from a lease contract, populate all the right fields like lease terms and classification, and generate a new lease. This helps keep you compliant with Accounting Standards Codification (ASC) 842 requirements.
Netgain’s NetAsset automatically creates new assets based on transactions. AI can pull out key data and plug it into the right fields, speeding up asset creation.
What’s more, you can use large language models (LLMs) like ChatGPT and Microsoft Copilot to produce flux analysis explanations during your month-end process. This eradicates the vast chunks of time spent on analysis and gives you immediate answers to pass on to the C-suite.
AI for accounting is still in its early days, so expect to see big shifts through the coming year.
For a deeper dive into artificial intelligence's current and future applications in accounting, check out Netgain's webinar, AI in Accounting: Demystifying the Present and Shaping the Future.
4. Blockchain
Blockchain isn’t limited to crypto trading — it’s also has the potential to revolutionize the accounting industry with more transparent, secure, and efficient financial transactions.
Its distributed ledger system makes all your transactions immutable and verifiable, significantly reducing the risk of fraud. Blockchain securely records financial transactions, so every entry is transparent and tamper-proof. This makes audits faster and more reliable as the data is already authenticated within the system.
In addition to financial reporting, blockchain has led to smart contracts, which automate tasks traditionally handled by third-party intermediaries. These self-executing contracts are based on predefined conditions stored on a blockchain and allow you to make real-time payments, settlements, or term enforcement.
While their potential to revolutionize industries like finance and real estate is immense, challenges such as addressing unforeseen outcomes and legal enforceability remain critical to their widespread adoption. However, as the technology matures, accounting teams will likely rely on blockchain-based platforms for greater accuracy and efficiency.
5. Elimination of context-switching
Geographically distributed accounting teams have accelerated the shift to cloud-based solutions. These platforms provide real-time collaboration, centralized data storage, and secure access from anywhere in the world. Tools like virtual communication platforms and integrated project management software connect and align team members regardless of location.
But along with this transformation, the digital tools accounting teams use in their day-to-day processes have ballooned exponentially, creating a challenging workflow in which accountants are forced to context switch from app to app — consuming valuable work time and eliminating the ability to see a holistic view of their company's financials.
As the move toward distributed teams continues, we'll likely see a greater push to the consolidation of apps and systems into a single source of truth.
6. Adoption of cloud-based software
Moving away from traditional spreadsheets, accounting teams are embracing cloud-based software to manage their financial operations.
Unlike spreadsheets, which can become cumbersome and error-prone, cloud software makes data accurate and accessible by automating calculations, eliminating manual entry errors, and maintaining a centralized, real-time database. Accounting teams can then use these clear, user-friendly visualizations to support their strategies and to answer financial questions from executive teams.
A study by Deloitte found that 90% of organizations see cloud computing as a key enabler in their outsourcing efforts. This gives you more agility and flexibility, so if you’re not already using cloud-based solutions, it’s probably time you switched.
7. Tech stack consolidation
The modern accounting workflow involves multiple tools for tasks like billing, reporting, and compliance. However, relying on too many disparate platforms can lead to inefficiencies due to frequent context switching.
Tech stack consolidation is a growing trend in accounting and beyond as businesses try to unify increasingly complex operations. Consolidating the tech stack reduces redundant systems, simplifies workflows, and improves your data integration.
For instance, using an all-in-one platform that handles everything from invoicing to payroll creates a single source of truth for financial data, reducing errors and improving team productivity. From your team’s perspective, it means far fewer passwords to remember and fewer learning curves for new systems.
Your enterprise resource planning (ERP) system, like Netsuite, already houses a lot of your financial data. Bringing your accounting solutions into your ERP helps you turn it into that single source of truth.
Netgain’s NetSuite-native solutions also give you analytics capabilities, drawing on data from across the board and providing holistic insights into financial performance. As businesses continue to adopt new technologies, choosing platforms with embedded or seamlessly integrated features will be key to achieving operational efficiency.
8. Increased adoption of open banking
Open banking is transforming the financial landscape by promoting transparency and empowering businesses with greater control over their financial data.
It eliminates tedious manual processes for accounting teams like logging into multiple banking portals to download transaction histories or reconcile accounts line by line. Instead, open banking integrates bank accounts directly with financial management platforms, automating processes like transaction reconciliation, real-time cash flow forecasting, and payment tracking.
By leveraging application programming interfaces (APIs), open banking provides real-time access to up-to-date financial data, so records are always accurate and consistent across platforms. This improves the reliability of reports and projections while reducing the risk of errors that come from manual data entry or outdated spreadsheets.
Adopting open banking allows businesses to offer tailored services, such as personalized lending options based on a client’s financial health or using advanced analytics to identify trends and opportunities. These capabilities benefit both small businesses seeking efficiency and large enterprises managing complex financial operations.
9. Data security
The rise of cloud-based platforms and interconnected systems has brought incredible efficiency, but it also demands heightened vigilance against risks like data breaches, ransomware attacks, and insider threats.
IBM estimates the global average cost of a data breach to be $4.88 million, which is a 10% increase from 2023. That not-inconsiderable sum can jeopardize careful financial planning, so efforts to mitigate the risk are non-negotiable.
Implementing advanced security measures, such as encryption, multi-factor authentication, and regular vulnerability assessments, is critical for protecting sensitive information.
Additionally, we’re going to see an increase in the culture of security awareness. Training team members to recognize phishing attempts and adhere to data protection protocols goes a long way in safeguarding financial data.
10. Outsourcing
Outsourced accounting has become a powerful strategy for accounting teams aiming to optimize efficiency and focus on strategic initiatives. By delegating time-consuming tasks like payroll processing, tax preparation, or bookkeeping to specialized providers or software solutions, firms can reallocate resources toward high-value activities like financial planning and client advisory services.
The flexibility offered by outsourcing also enables businesses to scale operations quickly, adapting to fluctuating workloads. With access to skilled professionals and advanced technologies, outsourcing means quality and compliance without the overhead of managing large in-house teams.
However, it doesn’t come without risks. Outsourcing relies heavily on choosing the right partners and tools, and a poor selection can lead to issues like missed deadlines, compliance violations, or inconsistent quality. Additionally, handing over sensitive financial tasks to third parties requires confident security measures to prevent data breaches.
11. Continuous learning
As anyone in the accounting world will tell you, staying up to date on trends is no longer optional — it’s essential. Continuous learning empowers professionals to remain competitive and adapt to evolving regulations.
Traditional certifications like the Certified Public Accountant Examination (CPA exam) are still the best barometer we have for judging a candidate’s skills. However, we’ve seen a sharp rise in certifications and online learning platforms, so accountants can easily access courses on specialized topics like forensic accounting, automation, and international tax law.
12. Increased focus on work-life balance to retain talent
A healthier work-life balance has become a defining factor in talent retention, especially in the accounting industry, where high-pressure deadlines and demanding workloads are the norm.
Today’s professionals prioritize workplaces that offer flexibility and support their personal lives alongside career ambitions. Businesses that adopt practices like remote work options, flexible schedules, and mental health support find themselves better positioned to attract and retain top talent.
By streamlining and automating much of the busy work, accounting departments can alleviate some of the stress during peak periods, such as month-end close, giving teams the breathing room they need to recharge. Prioritizing work-life balance not only boosts morale but also fosters loyalty and productivity among team members.
13. Greater demand for Financial Planning and Analysis professionals
Financial Planning and Analysis (FP&A) professionals are increasingly sought after as organizations recognize the strategic value they bring.
FP&A experts analyze financial data, forecast trends, and provide actionable insights that guide business decisions, making them indispensable in navigating uncertain markets. Their ability to combine technical accounting knowledge with strategic thinking is a key differentiator in today’s dynamic economic environment.
As companies prioritize agility and long-term growth, the demand for skilled FP&A professionals is expected to rise. This shift underscores the importance of hiring individuals who can use complex tools to interpret dense financial data and align it with organizational goals.
Businesses that invest in cultivating FP&A talent will gain a competitive edge and position themselves as industry leaders in strategic financial management.
More about accounting trends
Here we’ll address some of the most pressing questions about emerging trends and the future of accounting.
What is the emerging trend in accounting?
AI is the most significant emerging trend in accounting, with businesses eager to learn how to use it to their advantage.
AI and machine learning tools take care of repetitive tasks like data entry, reconciliation, and payroll while providing insights for better decision-making.
We fully expect AI adoption to grow throughout the next year with built-in chatbots, data abstraction from complex contracts, and lightning-fast data analysis.
What’s new in accounting in 2025?
In 2025, accounting will be marked by the rise of blockchain integration and advanced AI tools.
Blockchain will be a major player in transaction transparency and security, while AI will give organizations faster and more accurate forecasting.
Additionally, open banking and cloud-based solutions will continue to gain traction, allowing firms to streamline processes and improve collaboration.
These innovations will quickly shift from a nice-to-have to a must-have.
What does the future of accounting look like?
The future of accounting will center on streamlined teams, with AI taking care of most repetitive tasks. Accounting teams will shrink and focus more on high-level, strategic decision-making as well as advisory roles.
A blend of cloud-based software, geographically distributed teams, and outsourcing means accounting teams are no longer bound by physical office spaces. This is likely to remedy the decline in qualified accountants, as businesses can scale operations efficiently by tapping into global talent.
Accounting trends for 2025: The bottom line
The accounting industry in 2025 is defined by transformation: leaner teams supported by AI, secure systems leveraging blockchain, and flexible operations powered by cloud-based software and outsourcing.
Even the looming challenges of talent shortages and increasing complexity unlock unprecedented growth and innovation opportunities for those willing to seize them.
Netgain stands at the forefront of this evolution, providing cutting-edge accounting software that empowers firms to adapt and thrive. With features that automate workflows and data integrity, Netgain helps you stay ahead of the curve in a fast-changing industry.
Ready to transform your accounting operations? Schedule a demo with Netgain and discover how we can help you future-proof your accounting department.
