Being technologically uplifted is no longer the comfort of business organizations but an elixir of survival in the fast-paced globe, where time is a new luxury. The digital age has transformed the lives of professionals in every arena.
Just when we thought we'd come a long way, there’s more to add to the plate. I call it the rise of robots!
Auto-Mate & Create
The advent of cloud-based tools has made extracting and processing real-time data a lot more convenient. It cuts out time, provides task management solutions with a clear perspective on respective processes, and improves accuracy and confidence. Technology has afforded the accounting industry new avenues to explore and skills to take on new roles and responsibilities.
Automation has drastically changed the client’s expectations; they don’t just want accountants poring over endless lines of information but proactive advice on distinct fundamental matters. Accountants today are more mobile and reactive and have a much wider reach while connecting to clients across the globe. The focus is on enhancing the user experience and tailoring it to their specific needs that add value to their creation.
Accountants and Automation
Manual power is duly getting replaced with software, easing the lives of accounts and finance professionals and fetching them time for more strategic work as opposed to reviewing complex spreadsheets, extracting the same old database, and number-crunching. These proficient tools and software have streamlined the processes and made the computation of data much quicker and easier.
The global economy is creating an unprecedented demand for a diversified and open-minded workforce.
Accountants today have moved past book-keeping and dated methodologies and instead are well-equipped with the required skills to apply their expertise in countless other areas, like, auditing, business expansion, credit control, fund management, and many more. And with leadership that values innovation and novelty, team members will feel empowered to explore approaches that would, otherwise, never be considered.
What Forbes has to say!
According to Forbes, the industry will gravitate towards web-based coaches and software, their new wing-man. They have recognized accountants as future CFOs who are not just full-time employees but integrated business advisors, diligent and meticulous, in their approach. The much-valued time of these future CFOs should be utilized for expanding clientele, developing KPIs, enhancing growth, and devising solutions to broadly relevant problems. It’s all about simplifying the processes, speeding up the tasks, and making more room for accountants to explore opportunities.
It’s inevitable that we are still looking at future automation, and clearly, there’s no looking back. Long journey ahead!