automation

Automation and the Future of Accounting

New technology and automation is at the threshold of freeing accountants from many mundane task-oriented functions. How can you capitalize on these automation advances, rather than becoming a casualty of new technology?  By investing heavily in training, you can prepare for new automation technology with confidence. Accounting and finance professionals need to begin preparing today to keep pace with emerging trends.

Foster a Digitally Advancing Culture

Prepare your organization for advancing its digital sophistication by:

  • Assessing the level of technology use, including human and digital capacity.
    • Compare this data with recommendations for the appropriate operating level for your organization’s size and functions.
    • Conduct a financial analysis and projection of costs associated with a progressive plan for digitalization.
  • Ascertain employees’ interest in expanded roles supported by increased digital functions and capacity.
    • Communicate the positive aspects of creating a new digital footprint.
    • Listen for concerns, hesitancy, or excitement.
    • Describe how accounting roles will grow as repetitive functions are digitalized.
    • Harness enthusiasm while patiently working through any reluctance.
  • Gather your team to plan next steps, integrating skill development steps with increases in technical capacity.

Guide Skill Development

Provide training options that help your accounting team excel.

  • Critical thinking and analysis development skills are of increasing importance as accountants become crucial participants in clients’ organizational planning.
  • Managing cybersecurity is a skill set needed to protect the identity and assets of millions across multiple sectors.
  • Support early digital-savvy adapters to mentor other staff. This approach allows you to take note of emerging leaders and those with compelling tech aptitude.
  • Hold pioneer accounting technology seminars with like-minded businesses.

Access New Automation Opportunities

As your team advances digitally explore new or expanded accounting revenue streams by:

  • Reviewing the demand for clients’ digital growth.
    • Analyze digital benchmarks for the client sectors your firm serves.
    • Inform clients of the growth and fiscal benefits you can provide through mutual digital expansion.
  • Capitalizing on the team’s enthusiasm and digital skills to expand beyond your current sectors.

 

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