Published on 17 June 2026, a new survey by software company Ravical of 500 UK small and medium sized enterprises finds that a clear majority of firms now act on artificial intelligence financial advice before consulting their accountant. The study reports that 70% of businesses say they “always” or “often” act on AI financial guidance first, while only 5% rarely or never do so, signalling a notable shift in how SMEs approach day to day financial decisions.
Key findings from the Ravical survey
Ravical’s survey of 500 UK SMEs presents several headline statistics that underline growing trust in accounting software and AI. Most strikingly, 90% of respondents believe that accounting software or AI will be capable of handling the majority of compliance tasks within the next few years. A substantial minority, 35%, say that capability is already achievable today.
The survey also captures the immediacy with which firms turn to digital tools. Seven in ten businesses report they “always” or “often” act on AI financial advice before consulting their accountant, whereas only 5% seldom or never do so. The findings paint a picture of SMEs using AI not simply as an adjunct, but as a first port of call for financial queries and decisions.
Context from other recent studies
Ravical’s results sit alongside other research showing both the appeal and practical drivers of AI adoption. A Starling Bank study released in April 2026 found that, among those using AI, 39% cited the speed at which it can provide information as a key benefit. Nearly a third, 32%, said the cost of professional advice influenced their decision to use AI tools.
Separately, a study by Ravelin found that only 33% of SMEs regard their accountant as a genuine strategic partner who proactively brings ideas and insights. That study also reported that 91% of firms had considered switching accounting firms in the previous 12 months. Taken together, these surveys suggest firms are reassessing the value they derive from human advisers in an era of fast, low-cost digital alternatives.
Earlier context from late 2025 likewise shows the popularity of general AI platforms for personal finance. ChatGPT was reported to be the most popular platform for helping people manage their money, used by six in ten UK adults, showing widespread public familiarity with conversational AI tools.
What accountants are up against
Ravical’s founder and chief executive, Joris Van Der Gucht, summed up the challenge for accounting practices, saying, “Clients are now going AI first. For an accountant, that is a harder place to stand. You become the second opinion, and you have to be better and faster than the tool the client already used. That pressure is only going to grow as businesses lean on these tools more.”
The comment underlines a practical reality for accountants: with clients increasingly acting on AI-derived guidance before speaking to a professional, accountants may need to adapt their workflows and value propositions. The Ravical data , especially the belief among nine in ten SMEs that AI will manage most compliance tasks , suggests the profession may face a period of accelerated change in the coming years.
Implications for SMEs and advisers
For business owners, the apparent convenience, speed and lower cost of some automated tools appear to be potent factors in adoption. The Starling Bank finding that speed and cost are leading reasons to use AI explains why many SMEs will continue to consult these systems first for routine queries.
For accounting firms, the twin challenges are clear. Firms must demonstrate clear added value beyond what software can deliver, and they must respond quickly when they are consulted, given clients’ expectations of rapid answers. The Ravelin statistic that only a third of SMEs see their accountant as a proactive strategic partner suggests a potential gap that firms could address, by offering timely, forward-looking advice rather than purely compliance services.
Some firms may respond by integrating AI into their own services, using it to speed up routine work and free time for higher value, strategic interactions. Others may focus on differentiation through bespoke advice, sector expertise, or services that software cannot easily replicate. The Ravical survey does not prescribe one solution, but it does indicate the direction of travel.
Frequently asked questions
What did the Ravical study find?
The Ravical study, published on 17 June 2026 and based on a survey of 500 UK SMEs, found that 70% of businesses “always” or “often” act on AI financial advice before consulting their accountant, while 5% rarely or never do so. It also reported that 90% of businesses believe accounting software or AI will be capable of handling the majority of compliance tasks within the next few years, and 35% believe that is already achievable today.
Does this mean SMEs are abandoning accountants?
The data does not show SMEs abandoning accountants wholesale. Rather, it indicates firms are increasingly using AI as a first source of financial guidance. Other studies cited alongside Ravical’s results show concerns about cost and the speed of AI outputs, and the Ravelin study indicates substantial numbers of SMEs are questioning the strategic value of their current accountant. These findings point to a reconfiguration of roles, not necessarily a complete replacement.
Why are businesses using AI first?
Findings from a Starling Bank study released in April 2026 indicate primary drivers are speed and cost. The Starling research found that 39% of users appreciated the speed of AI, while 32% were influenced by the cost of professional advice. These practical motivations help explain why many businesses turn to AI tools at the outset of financial queries.
Conclusion
Ravical’s survey of 500 UK SMEs, published on 17 June 2026, underscores a clear shift in behaviour, with most firms turning to AI for financial guidance before contacting their accountants. Complementary studies point to speed, cost and shifting expectations about the role of human advisers as key factors. For accountants and advisory firms, the message is unambiguous: to remain indispensable they must adapt, by matching the speed and practicality of the tools clients are using and by delivering demonstrable strategic value that AI alone cannot provide. For readers interested in the broader economic context and reporting on London finance, our coverage can be found in the London Finance section.
Reported by the London Daily News newsroom, covering the people, business and life of the capital.
