5 mistakes accountants make when adopting digital technology

It’s one thing to know you need to keep up with the times. However, the path to embracing the new digital environment and learning how to thrive in it is not always clear.

For accounting firms and internal auditors, this means understanding that emerging trends such as blockchain, cryptocurrencies, the metaverse and environmental, social and governance reporting will in future be as common as more routine tasks such as financial reconciliation, review and reporting important data. Keeping up can seem like a daunting task.

recent Learn Indicating that 37% of accountants place a high value on creative problem solving and nearly one in two accountants are prepared to try new technologies. Based on my experience working with industry professionals over the past three decades, I have seen many accountants struggle with digital transformation.

The field of accounting is changing dramatically, requiring professionals to master new skills by doing insight-driven, human-centered work in ways never before possible. Automation can help relieve monotonous work and free up time to be more creative in delivering accounting services, but without the proper education, it can also create new challenges.

Here’s what I’ve found to be the most common mistakes accounting professionals make when undertaking digital transformation and how to avoid them. By following a few key proven steps, accountants can make the most of digital transformation and focus on what matters most: working better, smarter, and building stronger relationships with colleagues and clients.

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