Let’s fear not – accounting isn’t disappearing. Technology has given our field a whole new set of opportunities to continue developing professional relationships and supporting new businesses.
Rather than fearing changes that AI and technology will have in our profession, we should see them as an opportunity for our roles to become more relevant, as repetitive tasks are taken off our plates. We need to play a bigger role in providing guidance to our clients.
2 major trends are changing the accounting industry:
The power of the cloud has grown over the years, making work for business quicker and more efficient. The cloud is simply a platform to access online data anytime, anywhere, from any device.
With the surge of advanced software solutions, many businesses are now able to get rid of manual processes. This translates into dedicating less time to routine data entry and playing a larger role in the business’ ongoing operations.
Today’s trends are unfolding fast and changing the landscape of today’s accounting. Instead of just crunching numbers and putting financials together, our job will become crucial to the interpretation of data. With the spread of automation software, our skills and ability to provide clients with deeper information about business performance and data analysis will become fundamental in our profession.
Technological changes will reduce time, risk and allow us to become the trusted advisor that our clients need.
The future is looking positive.