AI is changing the way businesses operate, and accountancy is no exception. I expect much of the routine work we do today will be handled by technology over the next few years, and I see that as a positive development. It gives us an opportunity to spend more time doing the work I find rewarding, which is helping business owners make decisions about their future.
But there’s something I’ve been thinking about as we introduce more technology at Benson Wood. Accountants know an awful lot about their clients’ business finances, but how much do we really know about the people running those businesses?
We might know exactly how profitable a business is, but have little idea what the owner wants to achieve personally.
I want to build on that at Benson Wood. I believe understanding our clients’ personal circumstances will make us better business advisers, and it’s something we’re putting a lot of time into developing across the team.
Why is the human side of business becoming more important?
I’ve noticed more businesses using AI generated images and LinkedIn content that could belong to almost anybody, and I don’t think they do the businesses involved any favours.
In October 2026, I gave a presentation to the Federation of Small Businesses on my 12 tips for business growth. My last tip was simply to be human.
There’s a lot to be said for showing your personality and letting people get to know who’s behind the business.
I’ve experienced that myself through our slightly unusual association with Tunnock’s Teacakes. What started as a bit of fun has become something people recognise me for. I’ve even had someone shout “there’s the Teacake Guy” at a business event.
I've written more about how I became the Tunnock's Teacake Guy and how it all started.
The human side is just as important in how we look after clients. People want to know there’s somebody they can speak to who understands their circumstances, particularly when they’re facing a big decision.
That's where I think accountants can do much more to help the businesses they work with.
Why should your accountant know about your personal ambitions?
If we don’t know what someone wants from their business personally, it’s hard to give them the right advice about it.
Financial advisers have traditionally been very good at understanding their clients’ personal circumstances. They’ll spend time finding out what somebody wants from retirement and how much money they’ll need to support the life they have planned.
Accountants tend to have a different starting point. We know the business finances inside out, but we don’t always explore what the owner wants the business to achieve for them personally.
I’ve been thinking about how we can bring those conversations closer together at Benson Wood.
For example, we might be advising somebody who owns a profitable professional services firm and wants to continue growing it. From the figures alone, expanding the team might look like a sensible decision.
But suppose that owner wants to retire in 5 years. We should also be discussing how dependent the business is on them and what would need to happen for them to step away.
Another owner might have no interest in selling their business. They may simply want to work fewer hours and spend more time with their family. That could lead us towards a very different financial plan.
We also need to understand more about our clients’ personal financial circumstances. Knowing about their commitments outside the business can help us advise on how much they can afford to take out of it.
How you pay yourself is a good example, and it’s one I’ve had to decide for myself.
I take a commercial salary from Benson Wood through PAYE, even though it probably costs me a bit more in tax.
Depending on your circumstances, you can face substantial personal tax payments during the year, alongside the company's corporation tax bill. Paying as I go means I don’t have that hanging over me, and I know what I have to live on each month.
Not everyone would make the same choice. Some people would rather keep the saving and plan for the bills, and that works well for them. The tax saving isn’t always the be all and end all, though, and people handle money differently.
I’ve run a business for a long time myself, and I know how financial commitments can weigh on you.
We need to understand how somebody feels about these decisions, rather than simply recommending whichever option produces the lowest immediate tax bill.
There are professional boundaries, of course. We can’t provide regulated investment advice, but we can identify when somebody would benefit from speaking to a financial adviser.
We’re exploring how to make these wider conversations a more regular part of the service we provide. I want our team to be comfortable asking about clients’ ambitions and understanding how their businesses fit into their lives.
It’s also the thinking behind our Growth Vision Workshop. We start by asking the owner what they want their life to look like in 3 years, then work out what the business needs to achieve to make that possible.
And when things aren’t going well, the personal side counts for even more.
Running a business can be lonely, and AI won’t be there for you when it’s struggling. If you’re worried about cash flow or struggling with a difficult decision, it helps to have somebody you can phone who already understands your business.
I’ve worked with some clients for decades, and being that person they feel comfortable calling is one of the parts of my job I enjoy the most.
How well do accountants really know their clients?
Our team knew more than I expected when we tested it at our September 2026 team day. It was a development day focused on improving our business advisory skills.
One of the exercises was to ask everyone to think about a client they knew well and anonymously write down what they knew about that person beyond their accounts.
I found the answers encouraging. Team members knew where clients liked to go on holiday and what their long term plans were.
If we know somebody has plans to retire, are we helping them prepare their business for that? If they’re worried about their personal finances, are we having conversations that could help them?
I want us to become more deliberate about understanding what clients are working towards, so we’re identifying opportunities to help before they necessarily think to ask us.
What should you expect from your accountant as AI takes on more of the work?
More of our job will be talking clients through what their figures mean, including when it’s not what they want to hear.
Another exercise during our team day involved a fictional architecture practice that had grown considerably, but whose profitability was declining.
The practice had recruited additional employees while spending less on training. Our team were given information about the business and asked to work out what might be going wrong.
Then our business mentor, Laura McKenzie, played the owner of the practice, and everyone took a turn explaining their observations to her.
Laura was deliberately difficult! She insisted the practice was operating at full capacity, despite the figures suggesting otherwise, and challenged nearly every recommendation the team made.
Whenever anyone suggested getting additional support, she wanted to know how much it would cost.
I had a go myself, and Laura gave me just as hard a time as everyone else.
It was a good exercise because advising business owners involves conversations they may find uncomfortable. Someone might be convinced their business is performing well because everybody is busy, even though the figures suggest there are problems.
We need to be able to explain what we’re seeing and understand why the owner might be reluctant to accept it.
That’s a different skill from preparing accounts, and it takes practice.
The team day gave everyone an opportunity to develop their confidence in those conversations, which will become a bigger part of their roles over the next few years.
Thankfully, our real clients are much more receptive than Laura was!
Should you still meet your accountant face to face?
I still think there’s a lot to be gained from sitting down with somebody. We use technology to make working with clients easier, and video calls are convenient when people can’t get together.
Quite a few of our clients prefer coming to our Bellshill office rather than having us visit them. Some appreciate the privacy of discussing their finances away from their employees. Others like having time away from the day to day demands of running their business.
Chris also regularly visits clients at their premises, as some prefer us to go to them.
We work around what suits each client. Sometimes a client comes in with one question and the conversation takes us somewhere they hadn’t expected.
That’s one of the reasons I enjoy working closely with business owners, and I want our whole team to have more opportunities to do the same.
What does AI mean for the relationship with your accountant?
If our team spends less time on routine accounting work, we can give more time to helping clients understand their businesses and plan for what they want to achieve.
But technology alone won’t make that happen. We also need to invest in our people so they have the confidence to advise clients and build closer relationships with them.
That’s why we’ll be running more days like our September team day as we develop Benson Wood.
Some clients may understandably question what they’re paying for if technology can complete certain tasks much faster than before.
I think that’s fair, and it’s another reason we’re developing our advisory services.
The more we know about the person running the business, the better we can help them make financial decisions that support the life they want.
And when things get difficult, I want our clients to know there’s somebody at Benson Wood who understands their circumstances and will take the time to help.
How can Benson Wood help your business?
We work with growing professional services firms across Lanarkshire and Central Scotland, helping owners understand their finances and make decisions about their future.
Our Growth Reports give you regular financial information throughout the year, which we review with you so you can see how your business is performing.
We also offer Growth Vision Workshops to help you work out what you want from your business and develop a plan to achieve it.
If you’d like an accountant who takes the time to understand you as well as your business, talk to our team.
There’ll be a coffee and a Tunnock’s Teacake waiting for you.
Frequently asked questions
Why should my accountant understand my personal financial goals?
Your personal ambitions can influence the financial decisions you make about your business. Understanding when you want to retire, for example, can help your accountant advise you on how to prepare the business for your departure. It also helps them understand what you need the business to provide for you financially.
Will AI replace accountants?
AI is likely to take on more routine accounting and administrative work, but accountants will still have a big role in helping owners understand their finances and make decisions. At Benson Wood, we’re investing in technology alongside developing our team’s advisory skills so we can spend more time supporting clients.
How can an accountant help beyond preparing annual accounts?
An accountant who works with you throughout the year can help you understand how your business is performing and plan for future decisions. At Benson Wood, our advisory services include regular financial reviews and Growth Vision Workshops that connect your personal ambitions with your business plans.
