Accountants and bookkeepers must embrace change
August 17, 2016

Regardless of the field you work in or the choices you make in life outside your career, one thing is inevitable: change. This is especially true for accountants and bookkeepers.

The fact of the matter is the accounting industry is changing quickly. As Top Accountant Degrees pointed out, technology has been one of the key drivers of change in the accounting industry. For one, accountants and bookkeepers have more tools available to them to reduce the margin of error. Furthermore, the impact technology has had on the field means accounting professionals must adapt by fostering their IT skills in addition to their business expertise.

The cloud impact
Perhaps one of the most prominent instigators of change is cloud technology. Recent research from RightScale illustrates how businesses across all industries in the U.S. are making this important shift. According to the data, 93 percent of U.S. businesses leverage cloud technology. Additionally, 83 percent of businesses had a hybrid cloud strategy in 2015, up from 74 percent in 2014.

Businesses are shifting to real-time, cloud-driven accounting software because it reduces error, makes work more efficient and allows for easier collaboration. Additionally, as more businesses adopt this technology, they expect their accountants and bookkeepers to do the same.

The role of millennials
Millennials are also igniting many changes in the accounting world. According to Pew Research, millennials surpassed Generation X as the largest generation in the workforce as of 2015. This means the expertise, expectations and values of Gen Y professionals will have a major impact across industries.

In fact, Elite Daily pointed out that more millennials are joining the accounting field in particular. As a result, many firms are working hard to become more millennial friendly. This translates to more technology in the workplace, improved benefits, office perks and more flexibility when it comes to hours and collaboration.

Agility and success go hand in hand
Top Accounting Degrees brought up an important point that due to technology, accountants and bookkeepers are expected to play a more strategic role. As formerly manual and time-consuming tasks become automated through technology, accountants and bookkeepers' roles are shifting tremendously.

At such a major turning point in technology across industries, the most agile accountants and bookkeepers who are willing and enthusiastic to embrace change will surely find themselves ahead of the curve.

Start embracing change today with Sage Live for Accountants.

Nexus: G-WEBCD1