Accountancy has been around for decades, and without skilled accountants, many businesses would not be thriving today. However, what was once mostly work carried out with a calculator and a pen and paper is now largely carried out through technology. Accountancy really has come a long way. Here are just a few of the ways in which technology has helped accountants.
Mobile devices are now used for accounting
As you probably already know, mobile devices have become an essential part of modern life. This is not just true of our personal lives, though. The business world has also become largely dependent on mobile technology. There are now many apps available on the market for business owners and accountants to utilize. These apps have streamlined the accountancy industry and have made things run significantly smoother.They allow accountants to gain instant access to real-time financial data, allowing them to make better business decisions.
Cloud computing for accountants
Cloud computing has completely transformed the business world in general, and it has definitely helped accountants to work more efficiently. Cloud computing allows accountants to perform all of their tasks and provide important reports and financial information from anywhere in the world. The great thing about this is that no matter where they are, the business owner will always have access to up-to-date financial information – again, allowing them to make much better business decisions.
Different accounting programs
As we noted above, traditional accountancy was largely carried out through the use of pen and paper and a calculator. As technology began to progress, programs such as Microsoft Excel became very useful. These days, however, there are various fantastic programs available on the market solely aimed at the accountancy sector. These accountancy programs are designed to get the best results. Business owners simply have to purchase the program for their accountancy department and reap the benefits. The good thing is that there are so many different programs out there that it is easy for business owners to choose one that meets their needs exactly.
Instant access to the financial market
As most business owners will be only too aware, the financial market is constantly changing. What may seem like a good investment one day could potentially be a disaster in the long run. The great thing about technology is that it has allowed accountants to gain instant access to the financial market. They can see what is going up and what is going down, and keep business owners up to date instantly. The great thing about this is that it allows them to offer the best possible financial advice, meaning that the business can continue to thrive. Without technology, this would not be possible, and business in general would be far more risky.
Online learning is now possible
It used to be the case that you would have to study at a college or university if you wanted to pursue a career in accountancy. Thanks to ever-changing technology, it is now possible to study online courses. With courses such as the NEC’s online master’s in accounting and many others, you are able to study at your own pace to get your master’s in accounting. This is something that years ago would have been completely impossible. Thanks to technology, millions of students are now taking their master’s in accountancy while holding down a full-time job. More people are able to pursue their ideal career without having to worry about not having enough time to find employment to support themselves. Online education is completely based around the student learning at their own pace, in their own time.
As you can see, technology really has changed the world of accountancy. What was once a time-consuming job is now streamlined. Technology has not only helped accountants but has also really benefited business owners. They now have more access to financial data from their accountants. Because of this, they are able to make the best business decisions, which will allow their business to grow and thrive.
Technology has even helped accountants who work for small businesses. It has even helped those who are starting out their own small business who don’t have the budget to hire an accountant just yet. There are programs available that will actually allow those just starting out to take control of their finances in a straightforward manner. Without technology, it is pretty safe to say that a lot of businesses would simply not have made it to where they are today.