Posts Tagged technology

New Accounting Technology, Improved Bookkeeping

In the not-so-distant past, bookkeeping was a labor-intensive process, with a bulk of the time spent entering transactions and reconciling bank statements. Today, new accounting technology has changed the role of the bookkeeper, and while some might see technology as a threat to its existence, others see it as an opportunity. A study by Carl Benedikt Frey and Michael A. Osborne at Oxford University predicted that accounting is one of the sectors most likely to suffer job loss due to technical innovation and automation.

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Technology Trends in Accounting

Technology continues to move at an incredibly fast pace and the accounting industry is hardly immune to advances and changes. Clients and staff alike have ever-growing expectations fueled by advances in other industries with which they interact. Even so, a 2015 survey revealed that 70% of CFOs claim to be unconcerned by disruptions, despite 50% of them also reporting that disruptions negatively impact their businesses.

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