Accountants from all over the world have gone through a vast phase of evolution and the ability of accountants to change according to the situation instead of showing resistance has made them one of the finest professionals of the industry. There was a time when accountants were considered geeky nerds who dealt with numbers and huge piles of papers and that’s why most of the common perception of an accountant was an ugly guy wearing thick glasses and bulgy pants, sitting on a desk full of papers, a calculator and pen. But things have changed now, thanks to technology.
Technology has allowed accountants to transform even if the common perception of the traditional accountants by the people was not actually right. From geeky nerds, accountants become one of the technologically advanced professionals who now don’t only deal with the number game but act as chief strategies of an organization while taking part in major decision-making processes of the organization.
The first change came in the accounting industry when the accounting software solutions entered in the market and wiped out the need of pen and paper. The introduction of accounting software was one of the most revolutionary changes in the accounting industry. It made accountants work quickly and more effectively and most of the accountants considered it as one of the greatest changes but another big and more advanced technology was waiting to evolve and it would later make accountants to work at their peak efficiency.
The next big change in the accounting industry came with the introduction of cloud computing solutions. The cloud computing solution was being welcomed in most of the industries and that’s why the accounting industry was ready to adopt it in their operations. The very advantageous cloud accounting solution allowed accountants to work at their peak efficiency. It allowed the accountants to move out from their restricted zone and diversify their job role. So, let’s see the two ways in which cloud made accountants more effective and allowed them to work at their peak efficiency.
Everything on fingertips
Before the introduction of the cloud, the accountants were limited to their office when it came to providing accounting service to their clients. This was one of the biggest hurdles for the accountants as they were not able to work on the books of their clients when they wanted to as office hours was the only time period during which accountants could work on the books. It also made the outsourced employees very restricted as they also were bound to work during the office hours.
But the introduction of the cloud accounting solution removed this restriction of working only during office hours as now accountants were able to work from anywhere and at anytime. This is one of the biggest and most advantageous changes which came along with cloud accounting solution. On one side, this feature allowed the accountants to increase their productivity as everyone was allowed to work according to their time and along with that, it also allowed accountants to provide accounting service to their clients, on a 24/7 basis.
More work in less time
One of the most basic things in accounting is teamwork. Accounting has never been a one man army type of thing as it is a very diverse field in which people have to deal with numbers, rules and law and all these things can’t be handled by a single person. If an accounting department doesn’t have strong teamwork then it won’t be able to deliver expected result and manage the finance of the business in the way it should be managed.
The traditional method of accounting involved less coordination between the team members. If a single member of the team started working on the books, others will have to wait for their turn because they can’t work until and unless one person has finished his job. So, even with 50 accountants in a team sitting under a single roof, they were not able to work as a team because of multiple restrictions. But these restrictions were broken by cloud accounting solution and it enhanced the quality of teamwork in the accounting department.
With the help of the cloud accounting solution, accountants were able to work as a team as it has the unique feature of multi-user access which allowed multiple accountants to work on the same file at the same time while getting real-time updates. This made the accounting operations easy, fast and better.
The cloud has been one of the biggest changes in the accounting industry and now when people have started thinking that this will be the height of technology, the next big thing in the form of AI will enter into the market and take the accountants one step above their current capability.