How Is the Field of Accounting Adapting to New Technology?

TechnologyTechnology is constantly evolving, and so is the field of accounting. For accountants, adapting to new technology is both a goal and a challenge. In fact, the effort to integrate new technology into the field is among the top five trends in modern accounting as identified by company Wolters Kluwer CCH, according to Accounting Today. Accounting professionals and firms are, for the most part, embracing new technology to accomplish important goals, like improving client service, attracting new clients and increasing employee productivity.

Drawing In New Clients with Social Media

One important trend in contemporary accounting is the purposeful use of social media. Through interactions on social media, accounting firms can better engage prospective clients to earn their business. They can also stay top-of-mind with existing clients, furthering the important accountant-client relationship and inviting repeat business from these clients. A majority of accounting firms that are considered “very prepared” to confront the biggest trends and challenges in modern accounting now put social media to use to promote their business and connect with current and potential clients.

Integrating Technology to Improve Client Service

Today’s accounting clients want instant, round-the-clock access to the information they need. Finding ways to provide this information outside of a firm’s normal business hours is an important part of providing exceptional client service and keeping clients happy. To do this, accounting firms are increasingly turning to technology. By creating virtual client portals that allow clients to access their information remotely at their convenience and investing in the cloud-based data storage systems necessary to facilitate these portals, accounting firms are fulfilling this demand and improving their relationships with clients.

Improving Productivity with Digital Mobility

In an age of widespread smartphone and tablet use, it should be no surprise that both employees and clients want the option to manage information from a mobile device. Many accounting firms are pursuing digital mobility for the purpose of improving productivity among workers. In addition to streamlining processes, incorporating more digital mobility into the field of accounting helps accountants respond more quickly to client questions and requests. Some firms even expect the use of mobile devices to help them cut other costs.

The field of accounting changes all the time, and so do accounting firms’ goals with regards to adapting to new technologies. Across the industry, accounting firms are paying close attention to major technology trends, like the widespread use of social media and mobile devices as well as consumers’ need for immediate access to personal accounts and information. Accounting firms are adapting to new technologies like these by incorporating them into their businesses in a variety of ways. Rather than shying away from changes in technology, proactive accounting firms can use these trends to accomplish important goals, like attracting new business, enhancing client relations and allowing both employees and clients to access information on-the-go. Many accounting firms are adapting to new technology very successfully, and have made integrating this technology a long-term goal.

Post Comment