Who doesn’t want to work less, yet achieve the same number of things – if not more? As an accountant, you need to reduce manual data entry. It’s a time sink that eats the resources of a practice. We could discuss machine learning or artificial intelligence (AI) as a solution for this. But the reality is it’s all about reducing the drudgery – and manual data input, in particular.
Automation is key. If the majority of your work is automated then you’ll be freed up to advise and offer more value to your clients. The new wave of automation for accountants focuses on taking care of payments, bills, invoices, receipts, purchase orders and more. Somebody has to tell the system all about these, even if that’s just coding one line in a ledger against another. The breakthrough in recent times is that the computer can do so.