We acknowledge how living in this era, especially after the wave of Covid-19 pandemic that has shaken the world, has eventually changed so many things. There are so many new norms that have been revolving around people all over the world. Now that we are talking about it, we are supposed to look at the weave of technology and digital technology being used in almost every sector. I’m pretty sure that all of us are well aware of how the pandemic gave big impacts on almost every sector such as high institutions, schools, business, food and beverages and not to forget retails too.
By that, we shall see how the technology works and creep into accounting after the new norm of the Covid-19 pandemic that is in line with the growth of technology and the digital world. Would it be good or bad? We do know that accounting would be the most crucial element/role in any kind of business to ensure we can be prepared with it. Hence why the adaptation of technology is important.
It is beyond doubt on how despite the challenges and unexpected obstacles in using the technology, there are also benefits and advantages that you could gain from it. It does include so many good things especially in terms of money and cost saving. This definitely would be something that is worth reading if you are interested in knowing how these two elements can work wonders for people with this profession.
Who Is an Accountant and What Are They Doing?
As we are talking about accounting, it is a must for you to know who and what they are doing. Apparently, an accountant is someone that is absolutely an expert and will actually manage the bookkeeping and sort out any documents and statements that are related to business. It would eventually involving a few things such as:
- Books auditing.
- Report preparation.
- Tax records.
- Financial or any transactions statement.
- Keeping track of any payments and debt records.
For a business no matter small or big, it is crucial to actually hire your accountants that can always help you keep track of everything. Yes, I’m calling you out to start hiring one if you don’t have one yet. Unless, you can handle everything at one time then keep it up.
By all means, if you are thinking and interested in hiring one for your business. Then you should consider taking one with all of these crucial skills. Which includes:
- The analytics skills of mathematics and financial
I bet all of us would eventually know when it comes to accounting or finance, people that are handling it should be at least good in mathematics as they will deal with numbers a lot. Yes a lot.
- Knowledge in computer
As we are talking about how accountants have been working with technology to make it more fast and convenient. Of course, it would require them to have a good knowledge in handling gadgets such as computers.
- Business skills
Best believe that an accountant does play important roles in helping out with your business, this is because they wouldn’t just help you with the financial status, but they will also help you in sorting out strategies to improve business.
How Does The Technology Affect The Accountants
As we know, the adaptation of all existing sectors with technology, gadget and internet usage can be seen all over the world. And of course, every improvement would come with the pros and cons, so it is important to keep up with both to ensure that there will be no bad impacts happening.
As we are talking about it now, let’s take a look at how technology would have good impacts on the progress of accounting itself.
- Technology makes it more convenient and fast.
I’m pretty sure that the majority of us are well aware of how accountants back then were tied to the traditional way of working. What it means by traditional way is how they used to work with typical old-school office supplies such as a calculator, pen, paper and even notebook to keep track and update with everything. But as we noticed now, the innovation of technology has made it faster and more convenient.
As the technology usage has started to begin now, we could see how accountants nowadays can easily do their work that eventually would involve so many things easier. Gadget usage such as computers, mobile phones and tablets are really helping them out to save data, keep track of their business’ financial status. The important thing is that it would be easy and fast for them to check the NET30 vendor list for their business.
- The existence and the usage of Artificial Intelligence (AI)
As accountants have been introduced to some of the technology implementations in the accounting field. I’m pretty sure that we are aware of the existence of Artificial intelligence (AI) that would be helpful for accountants.
It is believed to be able to help accountants in coping and handling with the complex and complication in any financial problems that would occur in business. This clearly proves how technology does help in giving good impacts to accountants.
- Secure and big data storage
As we know, being an accountant is not easy as they are responsible for keeping and updating the company’s data. Hence why, they need a great place for that other than to be kept and written on a paper and book. This is where technology comes to the rescue and enables them to have cloud computing.
With cloud computing usage, accountants could have more secure and big storage in making sure they won’t miss any updates on the current financial records and status. Not just that, the advantages of this cloud computing is it is also able to help people working on it together.
- Virtually meetings
Life as an accountant would be eventually busy with all of the pending and upcoming things that are always kept coming. This brought them to an unhealthy social lifestyle, where they won’t even have time to socialise.
The innovation in technology that has been brought into the accounting world is kind of helping in managing their social life. They can now use virtual meetings to start socialising and probably having urgent meetings to deal with accounts problems.
To conclude, it can be seen that technology usage really giving accountants a more simple, easy and convenient way to deal with daily tasks and complications.