The right finance and accounting software eases you through the changes in accounting. Although many people think of accounting as a solid, stable profession, like most industries, there have been huge changes within the profession in the last decade. The internet has changed how accountants handle information and the amount and type of information available. The emergence of powerful cloud-based accounting software is changing faster than you can say debit.
Are you ready for the changes in accounting?
What’s New: Disruption, Cloud, and More in the World of Accounting
Disruption is more than a buzzword. It refers to major shifts in how things are done within an industry. There are several trends driving disruption in the field of accounting. These include macro trends affecting many industries and specific trends solely within the world of accounting.
- Real time connectivity: Customers today demand real-time updates. They expect an interconnected world in which information flows freely and in real-time. Internet, cloud, and other technologies have raised expectations about how quickly and easily data can be accessed. The accounting profession is recognizing the benefit of interconnectivity and the ease with which they can keep clients informed. Connecting with clients using technology is at the vanguard of technological innovations affecting accounting.
- Less manual data entry: Manual data entry is the bane of many companies. It’s time consuming and open to mistakes. Technology that integrates accounting and ordering systems eliminates many tedious manual data entry tasks. It also eliminates the errors that go with them, improving the accuracy of information.
- DIY needs: DIY is important in many fields, but it is growing in the world of accounting. Instead of outsourcing accounting needs, finance and accounting software make it easier to do basic accounting yourself. Cloud-based software makes even complex accounting tasks easier and helps you do much of your accounting on your own, perhaps having your accountant or CPA review files at the end of each month, quarter, or year.
- Machine learing and automation: Newer technology helps computer programs “learn” by doing. Once they encounter a situation, they can remember and react to similar situations in the future. Machine learning means that machines learn from mistakes and tasks to better predict future responses. When it comes to accounting, both machine learning and artificial intelligence are helping accountants view data in real-time and make better predictions based on data.
- Shift to specialization: Specialization is impacting nearly everything from products to people. Accounting software now comes in specialized packages or bundles, so that no matter what industry you are in, you can purchase software specially designed with your industry needs in mind. You no longer must settle for generic alternatives when customized ones are so readily available.
Best Finance and Accounting Software
The right finance and accounting software will help you weather the enormous changes occurring throughout the business world. Cloud computing, machine learning, new and increased data—all of it comes together in one package with the right software.
Sage 100 ERP and other specialized finance and accounting software eases the transition from spreadsheets, manual data entry, and interim accounting programs. It combines the best features outlined above with excellent support for a truly revolutionary approach to accounting and financial software. It offers both a user-friendly experience and the right combination of accounting and finance sophistication to meet the expectations of the most finicky of accountants.
Disruption is all around us. It’s how we meet change that matters. When accountants back in ancient times moved from clay slates to account for the king’s treasure to papyrus and paper, it was probably a disruption for them, too. We’re fortunate to live in a time when good accounting and finance software makes our lives easier and our work, better.
Emerald TC provides a team of certified consultants, CPAs, and master developers to help you build your business, choose the right software, and grow your revenues. When it’s time to choose new accounting and finance software, contact Emerald TC or call 678-456-6919.