This paper examines the growing role of computers and information technology in the accounting profession. It discusses how mobile devices, cloud computing, CRM systems, spreadsheet software, and automation are transforming how accountants work and serve clients. The paper also considers the future of specific accounting roles — such as bookkeeping and data entry — that are increasingly being automated, and argues that accountants must develop advisory and analytical skills to remain competitive. Drawing on industry sources including Intuit and the Business Forum, the paper presents a forward-looking view of accounting as a tech-enabled, data-driven profession.
Computers are widely used today in the field of accounting. Computing hardware — such as printers — and software find extensive application in the profession, as do security tools employed to protect client-related information. All accountants, including auditors, need to be technologically proficient to remain competent in the future. Mobile devices such as smartphones, laptops, and tablets are becoming key accounting tools, helping professionals manage client services as well as their everyday workloads. Technology will enable greater flexibility with regard to how, when, and where job tasks are performed. On-site presence will lose its importance as these tools permit — and often require — anywhere, anytime work (Branwell, 2015).
Within five years, the accounting industry will witness a significant shift toward cloud-enabled technology. Tools such as cloud-connected tablets and smartphones will allow companies to offer clients the convenience of a 24/7 pocket accountant. Information technology will be increasingly integrated into accounting systems, with firms implementing cloud computing applications and platforms alongside mobile and social computing, sophisticated analytical tools, and larger data sets. Intuit notes that the use of advanced IT tools will help accounting firms achieve better data quality, successful computerization of data gathering, and reduced data validation time (Branwell, 2015).
Increased automation, along with growing company interest in partially or fully outsourcing financial operations and bookkeeping, will give rise to fresh opportunities for firms to provide these services to clients. Although personal interaction with clients will continue, computers will render virtual accounting an industry standard. Clients will begin expecting real-time services delivered at the place, time, and in the manner they require. Online support systems and customer relationship management (CRM) tools will gain increasing importance (Branwell, 2015).
While one-on-one, high-touch client dealings will not disappear entirely, they will be enhanced through virtual collaboration and support. There will be increasing implementation of CRM and automation of routine support tasks, and clients will be offered self-service options (Branwell, 2015).
Spreadsheet programs will become faster, more user-friendly, and more accurate than current versions. Accounting professionals will make more extensive use of these programs for keeping records of sales, inventory, and costs, as well as forecasting and budgeting future expenditure and revenues (Business Forum, 2015). Consequently, spreadsheets will grow substantially in importance, becoming one of the most essential software tools available to organizations.
"Spreadsheets becoming essential organizational software"
"Skilled accountants moving toward advisory and analytical roles"
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