Is Technology Making Your Life Easier or Creating More Stress?

We all look to technology as a solution to overwork, but is it possible that the latest technology is contributing to your current stress levels?

That’s the question addressed in FloQast’s latest survey, “Controller’s Guidebook: Is Your Relationship with Technology a Solution to Burnout or a Source of Stress?” These latest findings build on their initial survey and provide some details on the effects technology solutions have on accountants, and whether they solve problems or replace old issues with new ones.

In partnership with the University of Georgia Consumer Analytics program, FloQast surveyed 217 people currently working in the accounting field, with respondents identifying as Accounting Manager, Staff Accountant, Chief Accounting Officer, CFO, VP of Accounting, and Controller, along with several other designations. While some of the respondents were new to the industry, the vast majority of survey participants (72%) had been in the accounting industry for six years or more.

One of the more intriguing findings in the survey highlighted how important our relationship with technology is. The survey highlighted three types of accountant/technology relationships:

• Adversarial – In an adversarial relationship, technology is viewed as a hindrance rather than a help.
• Routine – A routine relationship with accounting is where technology is viewed as a necessary function, but little else.
• Synergistic – A synergistic relationship is where technology and an accountant are truly partners, with both working together seamlessly.

Why is Your Relationship with Technology Important?

We’ve all worked with someone who is reluctant or even refuses to use technology to make their job (and their life) easier. While touting the benefits of introducing and expanding the use of technology in business, it turns out that all of those time-saving measures are irrelevant if you or your staff have an adversarial relationship with technology.

The FloQast survey looked at a variety of areas that typically impact those in the accounting profession, measuring the following:  

Category	Adversarial	Routine	Synergistic
Personal Competencies	20%	48%	71%
Burnout Rate	48%	44%	33%
Enough Time to Complete Your Work	21%	33.9%	55.7%
Income	18%	39%	63%
Work/Life Balance	25%	32%	53%

According to Mike Whitmire, CEO and co-founder of FloQast, the relationship an accountant has with technology is as important as the technology itself. “These survey findings make it clear that we’re on the right track – an accounting professional’s relationship with their technology is of the utmost importance, as anything less than a synergistic relationship can have dire consequences around burnout, personal well-being, and the organization as a whole.”

This survey is the second chapter in FloQast’s Controller’s Guidebook series, with more results to be released in 2023. The complete survey findings at https://tinyurl.com/4f6dfbjz.