Technology is drastically changing many industries and accounting is no exception. Accountants used to be tasked with tedious processes that are now fully automated. The rapid advancements of technology are to blame for the fast-paced transformations in accounting.
While emerging technologies makes many repetitive tasks easier for accountants, it’s actually changing the accountant job duties altogether. Since advanced software is streamlining many processes, accountants are required to develop a new skill set to advise clients on the most profitable business decisions. Did you know that technology is changing the way accountants work? It's true. And, you can stay ahead of the curve with these insights. Click To Tweet
The rise of social media has honestly changed marketing for every industry. Technology advancements with social networks provide businesses with a seemingly infinite reach to their target demographics. Considering most people have social media, this gives the accounting industry a platform to connect accountants and their clients.
Technology innovations are giving accounting firms access to accounting software that automates processes that used to be tedious and time-consuming. Moreover, accounting by artificial intelligence gives accurate, real-time results that reduce the margin of error.
There are now mobile apps made specifically for tax audits and accounting. Instant access through mobile devices has been a game changer for the accounting profession. Accountants and clients now have access to financial information and data analytics instantly, anywhere.
Pro Tip: Since most accounting data can be accessed from a mobile phone, the days of going back to an office and sorting through files are over.
Machine learning and advancements in business technology have definitely improved many accounting processes. However, accountants are required to adapt to the constantly changing technology, while being critical thinkers.
How has technology transformed accounting in your life? Join the conversation to speak with our team about smarter accounting.