Mastering the Solution for Accounting Digital Transformation: Hurst’s Success With Silverfin

The accounting industry is at a crossroads. Firms must adapt to the digital era and embrace new technologies or risk inefficiency and reduced profitability.

Hurst, a leading independent accountancy firm in the north-west of England, faced challenges as their business rapidly expanded. With a 12% annual growth rate, the need for operational efficiency became critical. Traditional tools like Excel and other software were no longer sufficient. Hurst found themselves duplicating information across multiple systems, causing accountants to spend more time searching for data than adding value to clients. This inefficiency led Hurst to seek a solution for accounting digital transformation.

What Is Accounting Digital Transformation?

Accounting digital transformation is the integration of technology into accounting practices to drive positive change. This strategic movement includes three core areas:

1. 1.Digitisation: Moving away from paper-based processes to digital data collection and processing.
2. 2.Automation: Streamlining workflows, improving quality control, and reducing time-consuming tasks.
3. 3.Management: Effectively managing technology to enhance collaboration and communication.

How Hurst Achieved Digital Transformation for Accountants with Silverfin

Hurst sought a solution with the following criteria:

• ​A cloud-based accounting solution
• ​The ability to streamline and standardise processes and workflows
• ​Functionality to deliver strategic advice to clients via data analysis

Jo Gibson, Outsource Business Partner at Hurst, stated, “There was a clear front runner for us, Silverfin. It met our requirements around having everything in one place, clear visibility and understanding our client base — being able to access the client information, which we couldn’t do previously.”

Silverfin helped Hurst overcome the challenges of outdated, manual processes and achieve a more integrated, efficient, and client-centric approach.

1. Integration and Automation

Digital transformation in accounting enhances efficiency and accuracy in financial management through advanced technologies like AI and cloud software. Silverfin, as a cloud-based platform, integrates with Hurst’s various accounting processes. By connecting all client data to a centralised hub, Hurst could pull client information from different bookkeeping systems in real-time. This reduced manual data entry, automated working papers, reduced human errors, and freed up valuable time for the team.

Lizzie Hill, Outsourcing Senior at Hurst, shared, “Instead of manually entering data, I can spend a lot more time looking into the numbers and adding value to our clients, which is what they appreciate.”

2. Data-Driven Client Advisory Services

With Silverfin’s automation and integration, Hurst shifted focus from compliance tasks to offering more strategic, data-driven client advisory services.

Jo Gibson explained, “We’re a huge believer in data-led advisory, so we needed a solution that would help us to understand our client base, benchmark data, and provide targeted advice to support them.”

Silverfin’s Insights feature allows firms to:

• ​Analyse all client data to identify trends across the portfolio
• ​Set up system alerts for key benchmarks, risk factors, or compliance requirements
• ​Create automated and digital advisory reports for clients at scale

Jo Gibson added, “I think this is one of the biggest changes — shifting the focus away from producing the numbers towards thinking about what the numbers tell us.”

3. Enhanced Quality of Service

Adopting Silverfin had a direct, positive impact on Hurst’s service quality. The software tracks progress in real-time, allowing everyone to see the stage of each job. This streamlined process enables more accurate scheduling and better client timelines for delivery.

Silverfin’s cloud-based nature also improves internal and external collaboration. Multiple team members can work on the same client file simultaneously, with all communication shared in the context of the document, eliminating endless email trails and missing attachments.

Jo Gibson noted, “Increasingly, we’re seeing a lot of our clients in the cloud, too. Working with them in real-time is really important, and Silverfin allows us to do that.”

Embracing Accounting’s Digital Future

Silverfin played a pivotal role in Hurst’s accounting digital transformation, addressing operational inefficiencies and enabling the firm to provide higher quality, data-driven client services.

This transformation demonstrates how embracing digital solutions can significantly improve efficiency, client service, and competitiveness in the accounting industry.

Inspired to find a solution for accounting digital transformation and explore what Silverfin can do for your firm? Request a demo with Silverfin and start your journey towards a transformative digital future in accounting.