WHAT’S THE FUTURE OF ACCOUNTING? – TOP FINANCE KEYNOTE SPEAKER REVEALS ALL

14 Aug WHAT’S THE FUTURE OF ACCOUNTING? – TOP FINANCE KEYNOTE SPEAKER REVEALS ALL

Posted at 06:08h in Uncategorized by

Where is tomorrow trending? The best future of accounting speakers suggest the following technology trends and workforce innovations are data points you should be monitoring…

  • Increased automation – Software bots and AI will automate high volume, repetitive tasks like data entry, invoice processing, payroll etc say future of accounting speakers. Accountants will focus more on strategic analysis.
  • Data analytics – Finance pros will use advanced data analytics tools to uncover insights from financial data rather than just report information. Predictive accounting will be possible.
  • Cloud computing – Cloud-based accounting software will become ubiquitous allowing access to real-time data and collaboration across locations and devices. Enhanced cybersecurity will be critical according to today’s best future of accounting speakers.
  • Specialization – General accounting roles may be replaced by specialized skills like data analytics, IT advisory, forensic accounting, sustainability reporting, etc.
  • Advisory services – Experts will shift from compliance to more advisory roles helping clients interpret financial data, adopt new technologies, and navigate change.
  • Remote work – Remote collaboration tools and access to data in the cloud will in future of accounting speakers’ eyes enable accounting to be done virtually from anywhere. Physical office spaces will decline.
  • New regulations – Evolving regulations around financial reporting, sustainability disclosures, data privacy etc. will require new accounting skills and perspectives.
  • Continuous learning – Technology advances will require lifelong learning and new technical skills in areas like data science, programming, and system implementation.
  • Increased competition – Automation, cloud platforms, and Non-Accounting Service Providers will increase competition for traditional accounting firms. Differentiation will be key.

 

Putting the question of where things are headed to top future of accounting speakers, thought leaders opine that the role of accountants is likely to move up the value chain, focus more on high-value analysis and insights vs. routine tasks, and require expanded skillsets. Interpersonal skills will remain critical.