Why Lengthy Tax Research is Costing Firms More Than They Might Realise

Tax research is part of the job as an accountant. The challenge is when research becomes a time sink, costing firms more than unbillable time.

Instead of only looking at hours lost, firms need to consider the broader opportunity costs. What else could staff be doing with that time?

The reality is that inefficient tax research not only slows workflow, it undermines client service, staff satisfaction and a firm’s ability to grow.

It is a problem that SavvyWise co-founder Drew Pflaum, CPA, knows all too well. As a former director of an accounting firm, Drew has experienced countless hours lost digging through ATO rulings, legislation and expert commentary trying to find the right substantiated answer.

Following the availability of AI, Drew became frustrated waiting for inefficiencies to be resolved and this ultimately drove him to help create a better solution.

The Missed Opportunity to Deliver More Value to Clients

There are clients that need more than compliance. They need forward-looking advice that helps them navigate challenges and plan for growth.

Yet when accountants are stuck spending excessive time searching for technical tax answers, there is less capacity to provide proactive business advisory.

Over time, this limits client loyalty and reduces the scope for higher-margin services.

Impact on Staff Development and Retention

Accountants want to build their skills and career pathways. But lengthy tax research contributes to less availability for training and professional development. The knock-on effect can be frustration and lower morale, particularly when staff feel they are being judged purely on speed.

In a profession facing a significant talent shortage, this matters.

When inefficiency drives stress and burnout, firms risk losing valuable team members.

Worse still, the reputation of being a “slow-moving” firm makes it harder when recruiting accountants in a tight labour market.

The Cost to Internal Workflows and Client Experience

Workflow delays affect more than internal deadlines. They spill over into slower client responses, bottlenecks in file reviews and inconsistent turnaround times.

From the client’s perspective, this can look like poor service quality. In a competitive market, poor experience may prompt a client to consider other firms that appear more agile.

The Risk of Falling Behind in Technology Adoption

Firms that continue with outdated processes will struggle not only with efficiency but also with perception. Staff prefer to work with employers who embrace tools that make their jobs easier. Entrepreneurs increasingly want to partner with firms that demonstrate innovation. Failing to adopt smarter solutions like SavvyWise signals to both groups that the firm is behind the curve.

How Smarter Tools Unlock Capacity and Growth

Adopting smarter technology creates capacity where it is needed most. By reducing time spent on tax research, tools like SavvyWise allow accountants to focus on advisory, training and client engagement. For firm leaders, this means:

• Retaining staff by reducing frustration and creating space for development
• Attracting new recruits by demonstrating a commitment to innovation
• Improving client satisfaction through faster, more consistent service

SavvyWise was designed specifically for the Australian profession. Unlike generic AI that can draw from unverified internet sources, SavvyWise draws exclusively from authoritative content such as legislation, ATO rulings and expert commentary. This means firms can confidently use it to speed up tax research without compromising accuracy.

Adopt a Smarter Tool Today

The hidden costs of inefficient tax research are real, from missed client opportunities to strained staff morale and a weaker recruitment pipeline. But the solution is within reach. By adopting smarter tools, firms can unlock time, enhance client service and become more attractive to both staff and clients.

That is why Drew and the team built SavvyWise: to free accountants from the grind of tax research and give them the space to deliver the strategic advice Australia’s businesses need.

Now is the moment to act. Sign up for the SavvyWise beta today and help shape the future of Australian tax research.