Three Disruptive Technologies in Accounting Practice
Technology is reshaping the ways of human existence.
When technology and accounting discussion come up, they usually sound something like this,
Can the work of accountants be automated? Can a machine decide which income, expenditure goes into which head? Yes. Its not long, that technological innovations in these fields will make most jobs, independent of human intervention, including accounting.
But we fail to look at the brighter side of technology. Imagine this – ERP systems will evolve further over a period of time. Consolidation of accounts for multi national companies, might happen just like a breeze.
Accounting firms will employ more specialists in statistics, risk management, technology, data analytics, etc.
Though accountants who used to dominate the auditing profession will no longer be able to, as they will have to embrace technology and re-invent themselves to remain relevant. Which is why, this article, accountants too need to embrace technology and they should know the developments in technology.
Of the many, we cover these three critical developments in technology which will impact future of accounting.
Machine learning, read Artificial Intelligence
We are an accounts outsourcing company, and front runners in adoption of technology in the way we conduct business.