Do Accountants Need To Be Tech-savvy In Today’s Digital Age?

Oupa Baloyi

According to the 2020 Practice of Now (PoN) survey, 91% of accountants believe technology delivers value to their business, and 58% said technology has improved efficiency and productivity.

Technology is evolving at the speed of light, hence it is paramount in this day and age for accountants to be technologically savvy, lest they fall behind. Knowing how to use technology well is critically important for the business performance of the organisation. There are loads of advantages to being tech-savvy.

In today’s digital age, it’s becoming increasingly important for accountants to be tech-savvy. With the advent of new technologies, accountants must adapt and stay updated with the latest tools and software. In this article, we will discuss the benefits of being a tech-savvy accountant.

Technologically Savvy Accountants Perform Better

Faster Problem Solving

Using technology, accountants can reduce the time gap in solving critical business issues. For instance, they can use software like QuickBooks, Xero, and MYOB to automate accounting tasks, which helps to eliminate human errors and save time. This enables them to focus on more important tasks and improve their overall efficiency.

Faster Deliveries

Technology can also help accountants to deliver work faster. They can use online collaboration tools like Google Drive, Dropbox, and Microsoft OneDrive to share documents, collaborate with team members and get work done faster.

Improved Professional Network

Being tech-savvy enables accountants to expand their professional network. They can use social media platforms like LinkedIn to connect with other professionals and build mutually beneficial relationships.

Seamless Communication and Collaboration

At Hulisa, technologically savvy employees employ collaboration tools such as WhatsApp, Microsoft Teams, and others to communicate and collaborate when they have demanding projects and activities. Even accountants are technologically savvy at Hulisa because of the pieces of training they partook in internally. They have more light and know-how in technological concepts like data and device security, and IT regulations.

High Productivity and Less Time Consumption

Automation

One of the most significant benefits that accountants could derive from being tech-savvy is automation. Automation of their systems makes life far easier than when they are not automated. No time is wasted on less important matters when accountants know the nitty-gritty of automation. For instance, they can automate routine tasks such as data entry and reconciliation, which can save a significant amount of time.

Support Community-building

Accountants can draw a lot of satisfaction from being tech-savvy. Knowing technology helps them to support community-building amongst themselves, which fosters a healthy work environment and promotes team collaboration.

Improved Job Prospects

Accountants who are tech-savvy have better job prospects than those who are not. This is because companies are always looking for accountants who can keep up with the latest technology trends and can offer a higher level of expertise in their field. Being tech-savvy sets an accountant apart from the competition and makes them valuable assets to any organization.

Increased Job Satisfaction

Being tech-savvy can also increase an accountant’s job satisfaction. They can take on more challenging tasks and be more productive, which gives them a sense of accomplishment. Additionally, they can learn new skills and apply them to their work, which can keep them motivated and engaged.

Improved decision-making capabilities

As technology continues to advance, accountants who are tech-savvy are better equipped to analyze financial data and make informed decisions. With the right tools and skills, they can quickly identify patterns and trends in data, allowing them to offer more valuable insights to their clients or organization.

Improved cybersecurity awareness

As more financial data is stored and transmitted digitally, cybersecurity is becoming increasingly important. Tech-savvy accountants are better equipped to identify potential security threats and take steps to protect sensitive data. By keeping up with the latest security trends and best practices, you can reduce the risk of data breaches and other security incidents.

More effective client communication

Being tech-savvy can also improve your ability to communicate with clients. You can use various communication channels, such as video conferencing and messaging apps, to keep in touch with clients and provide timely updates on their financial status. This can lead to better client relationships and more positive feedback.

Cost savings

By automating tasks and processes, technology can help accountants save time and reduce costs. With fewer manual tasks to complete, you can focus on more value-added activities that drive revenue and increase profitability.

Improved career development opportunities

Being tech-savvy can help you develop new skills and competencies that can lead to career advancement. As you learn how to use new technologies and software, you can take on new responsibilities and demonstrate your value to your organization. This can lead to promotions, pay raises, and other career development opportunities.

Competitive Advantage

In a highly competitive job market, being tech-savvy can give you an edge over other candidates. It can demonstrate your ability to adapt to new technologies and your commitment to staying up-to-date on industry trends. This can make you a more attractive hire and help you stand out from other applicants.

In conclusion, being a tech-savvy accountant offers numerous benefits that can help you improve your job performance, advance your career, and increase your job satisfaction. By staying up-to-date on the latest technologies and best practices, you can position yourself for success in today’s digital age.

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