New technology, like cloud computing, is beginning to reform the accounting industry. Accountants are saying goodbye to spreadsheets and relying more on cloud-hosted software so that clients can access their financial data regardless of location. Technology isn't the only thing that has changed accounting firms. Clients are demanding more from accountants for the same amount of money. They not only want accounting firms that utilize the newest software, but they still demand personal interaction from accountants. Because of this, it's important for all accountants to learn how to balance the human side and the technical side of accounting.
According to a recent article posted on the CPA Practice Advisor website, the use of cloud-based software is still fairly new to the accounting industry. However, many experts have argued that because software as a service (SaaS) or cloud-based software gives customers one place to access bookkeeping, tax preparation, audit services, and payroll data it is essential for every accounting firm. The fact is, people like to be in control of their finances. Having access to their financial portfolios any time of day and from any location appeals to them. However, accountants can't assume that cloud-based software will help lighten their work load any time soon.
Cloud-based accounting software hasn't only changed the way accountants enter data, it's changed the way you need to interact with your clients. In some instances, you may find yourself struggling to communicate effectively with your clients. It may seem like the entire accounting industry has become a man vs. technology battlefield. Cloud-based accounting software puts financial information in front of your customers, so instead of interacting with clients who need a detailed explanation of their finances, you're interacting with people who are well aware of their financial situation. Instead of reviewing a person's account with them, you may find yourself answering more detailed questions, so it's important that you keep abreast of any changes in your clients' financial profiles.
The man vs. technology battle doesn't stop there. You may also find yourself spending a lot of time walking your clients through the software so that they understand what they are looking at. Because you work with the software all day long, this can be frustrating, but it's important to remember that not everyone is tech savvy.
Ultimately, cloud-based accounting software and other new forms of technology that have recently become popular throughout the accounting industry have numerous benefits. Most innovations are cost effective, simple to use, and easy to access. However, the vast change makes it imperative for anyone who wants to succeed in the accounting industry to hone their interpersonal skills. As long as you focus on building your soft skills and embrace new technology, you can easily find the perfect balance between the human side and tech side of accounting and take the accounting industry by storm.
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