6 January 2017
Cloud accounting is one of the biggest leaps seen in the sector over the past couple of years, and as we move forward into 2017 this is definitely set to keep growing. The digital landscape spreads its ever growing fingertips into all aspects of the area, and it is important that we as people and accountants continue to evolve our skills to keep up with the technology that will ultimately govern how effectively we can do our jobs!
That said, how much longer do we really have until automated services take primary roles anyway? A recent study performed by Deloitte and Oxford University analysed 350 different job roles across a range of sectors, and found that 35% of jobs in the UK currently performed by humans are at risk of being computerised by 2036, the top of the list being certified accountants with a staggeringly high 95% chance.
Of course, this is all hypothetical at the moment, but we can’t overlook history and how advances in technology have changed the way in which people work. At the beginning of the industrial revolution, nobody would have even imagined the impact that machines would have on processes and jobs, but here we are 250 years later in a world largely governed by machinery and technology!
One thing you can’t ignore though is the need for a human face to promote interaction. Machines can’t make illogical errors, or forget appointments, and are extremely efficient (especially with large amounts of data), but they can’t fine-tune the nuances of human behaviour the way only a real person can. Need to establish rapport with a client or think outside the box? You won’t get a machine doing that, and that is why there will never a true complete switch to automation, in any industry not just finance.
It is extremely important for us all to keep on top of changes happening in the sector. Cloud accountancy company Xero have released a report finding that 83% (4 out of 5) accountants think that understanding the technology behind their jobs is as important as understanding accountancy itself. The study was based on a group of 2000 accounting professionals and SMEs. For the sector to continue to grow and serve customers, not to mention for individuals to further their own careers, understanding new leaps in technology is clearly a must! Using technology as a tool to improve productivity, customer service and efficiency means that it becomes less of a threat and more of a boon, but the willingness to train and take the time to learn must be in place.
At The Profit Key we offer wide range of cloud based accountancy software solutions to suit your business. Contact us on 01530 416555 for more information or click here for more information http://bit.ly/2eoTFze