The world of accounting has evolved drastically over the last decade and it has allowed accountants, bookkeepers, and CPAs to be more effective, efficient, quick and accurate. Those days are long gone when accounting was considered a repetitive and boring profession as nowadays, accountants are tech-savvy professionals who take part in the major decision-making process of a business. Nowadays, accountants are no more nerdy geeks with thick glasses on their nose dealing with long piles of papers with a calculator in their hand as technology has improved the accounting profession and made it more versatile and demanding.
The dramatic evolution of technology and its implementation in the accounting industry has acted as a revolution for accountants. From pen and paper to accounting software, from accounting software to cloud accounting software like QuickBooks hosting, the accounting industry has covered a very long journey of evolution and still, the changes are happening at a very fast pace. So, in this blog post, we will be looking at how the accountants of the modern-day era can be future-ready so that they won’t have to face any problem due to the futuristic technology which will be introduced in the accounting industry with the advancement of time.
If you are still thinking that just by mastering the art of bookkeeping, you will be able to not only survive but even grow in the market then you are completely wrong. Nowadays, most of the people and businesses are looking for something more than just bookkeeping service from their hired accountants. Therefore, in addition to your bookkeeping service, you also have to play the role of chief strategist infirms because accountants are now playing a major role in the decision-making process. By being versatile in your accounting service, you will be able to stay out from the crowd and more people will prefer your accounting service without any second thought. In the modern-day world, accountants relying just on their accounting service are not able to get expected results from their profession.
Capitalize on technology
If you are an accountant and you consider technology as you enemy or something which would snatch your job then your survival in the market will become questionable. Soon, technology will cover a major portion of accounting operation as you can already see that almost all the accounting professionals are now dependent upon the use of technological marvels like cloud accounting. These cloud-based accounting softwares such as QB Hosting are being adopted by a larger portion of CPA community due to its ease of access and high compatibility with other apps such as TSheets and Microsoft 365 apps for enterprise which gives a complete accounting experience. In the future, modern-day technologies like machine learning and artificial intelligence will also become an integral part of accounting and if you want to be future-ready then you need to work along with the latest technology and make it your USP rather than considering it as your enemy.
Many accountants think that modern technological solutions like AI and machine learning will replace accountants but you should know that robotic accountants are a farfetched thing because even technological marvels like machine learning are not capable of multi-tasking which is an important aspect of the accounting profession.
Use the digital platform
It doesn’t matter which type of profession you are in, you just can’t ignore the digital platform and the accounting profession is no exception to this change. The digital platform which involves websites and social media should be used extensively by accountants not only for finding potential customers but also for meeting like-minded people. A potential client will first search for your website before choosing your accounting service and if you don’t have one, then there are maximum chances that you will lose potential clients. You should know that 88 percent of the people search on the internet before purchasing any product and that’s why it becomes important for you to capitalize on the advantages of the digital platform as in future, the digital market will overtake the real market.
You can easily build a responsive website and make business accounts on different social media sites but you should always choose social media platforms according to your need and demand. For example, social media sites like Facebook, Twitter and Linkedin can be useful for your accounting profession rather than Instagram and Pinterest.
So, if you are an accountant and looking forward to be future-ready in order to secure your career then you can use the tips mentioned in this blog post and be prepared for the changes.