As with every business, accounting has evolved drastically. Lately, we’ve seen the accounting profession move beyond the cubicle—huddled over printed spreadsheets and payroll—to take an increasingly strategic role in business management and forward-thinking accounting solutions.
As the accounting profession is becoming increasingly digital, accounting firms are recognizing the potential for technology to help them provide more efficient and effective services.
Digital Transformation: The Rising Trend
Digital transformation has been a huge trend in the accounting industry over the past decade, with more and more accounting firms embracing cloud-based solutions, automation, and better collaboration, management, and compliance capabilities.
It’s not just accounting either. A vast majority of small business owners (78%) said they would switch to a more tech-savvy accountant if one was available. From accounting firms to accounting departments of large and small businesses, innovative accounting technology is becoming the norm.
What Is The Future Of Accounting Technology?
The accounting profession is on the brink of a technological revolution that will usher in an era of highly automated and efficient accounting processes.
Automation
Automation is projected to be one of the biggest accounting trends in 2023. Automated accounting solutions, such as cloud accounting applications, can help reduce manual processes and improve accuracy. Cloud accounting software provides a number of benefits for accounting firms, including easy access to financial information from any location, anytime.
The Cloud is Taking Accounting by Storm
Cloud accounting technology is also taking accounting by storm. According to a recent study on accounting statistics, 53% of accounting firms use some form of cloud software to help project management, and 67% of firms believed cloud solutions would help them in the future.
Cloud accounting solutions provide accounting firms with the ability to access financial data from any location and anytime, which is beneficial for both accounting firms and their clients.
Better Collaboration, Management, and Compliance Capabilities
Advanced accounting software now enables accounting professionals to easily collaborate with their clients via secure portals, track client information in real-time, and manage financial data more efficiently. Additionally, accounting software helps accounting firms stay compliant by tracking relevant regulations and ensuring that accounting processes are up to date.
How Can an MSP Help Support Your Firm and Get You There?
MSPs (managed service providers) are a great resource for accounting firms looking to implement accounting technology solutions. MSPs provide accounting professionals with access to the latest accounting technologies, as well as consulting services that can help accounting firms transition to digital environments seamlessly and securely.
Leverage Accounting Technology with Tech Rockstars
For accounting firms looking to take advantage of the latest accounting technology solutions, Tech Rockstars is here to help. We provide accounting firms with access to the best accounting technologies, along with consulting services that can help them transition to digital accounting environments seamlessly and securely.
Don’t hesitate! If you need help, we are here to help your accounting firm succeed. Schedule a consultation with the experts at Tech Rockstars today!
