Digital Accounting – a favor or disfavor for accounting profession?
In business, as in life, change is the only true constant. Professionals in all industries are waking up to major changes, many of them driven by emerging technologies.
Accounting is no exception. The profession has gone far beyond just accounting and payroll or tax calculation.
Some experts say that there is no future in tomorrow’s digital world for accountants, but what I am saying is that technologies such as cloud-based data management, process automation, and advanced data and information analysis are actually ready to pick them up even more, much more on accountants in new, supportive and encouraging ways and I say this from what I have lived in this working in the profession.
Many times in small circles I said that I would not have practiced in this activity if there were no digital accounting and that is because automation and other technologies of “chewing” data are ready to release accountants, not to force them.
I have had the chance to work in companies focused on digital accounting since 2005 and I have seen what it means to digitize and transform the financial-accounting processes in 2005, at a high level, with many professionals involved.
Organizations that understand the potential and importance of these technologies and invest in the tools and training needed to help their accountants take full advantage will be leaders in their industry, because they will control their business in an innovative and transparent way, with ease in communication and connection.
Tomorrow’s accountants will play a more creative and strategic role in the companies they serve, and that is part of human nature – the manifestation of creativity.
Technology, digital accounting gives space for these professionals to be creative.
As a result, businesses will not only enjoy more efficient workflows and obtain more useful information from their accounting processes and from professional accountants, but will help strengthen the company’s vision, the value it will bring will be beyond “robot” activity.
Technology creates the space of the professional accountant, just to transform from “robot-operator” into creator – visionary.
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