As 2019 gets underway, the global accounting industry is at a crossroads. The rise of AI-powered process automation is working its way into corporate finance operations and private accounting practices at an astounding rate, forever changing the nature of the industry and altering the mixture of skilled labour it's going to require going forward. Here in the UK, the Brexit crunch is already worsening skills shortages, which is going to force accounting practices to accelerate plans to adopt process automation in the near future. To do it right, many organisations are going to have to reinvent themselves from the ground up to facilitate digital transformation and operate effectively. Here's what they'll need to focus on.
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There are three technological innovations that are blindsiding some accountants who earned their degrees years ago. In the future, accounting professionals who are trained in these technologies will have an edge over bookkeepers and accountants who only understand the traditional methods. If you're a bookkeeper or accountant, or an executive or entrepreneur who works with either bookkeepers or accountants, these are the three transformational technologies you need to familiarise yourself with.
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