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New Technologies are creating a new CPA

November 20, 2020 - by Priyan Sharma

There was a time when we had to have a dime or a quarter to call someone while we were running errands. Additionally, we had to walk into a library, pull a card out from the card catalog, and take it to the librarian’s desk to ensure the book was in the building. Additionally, we had to look up facts in an encyclopedia instead of going online. But one thing is for sure that all of these memories seem to have changed drastically when we trip down memory lane. Today almost every one of us has a smartphone at our fingertips all the time. 

Now we don’t go to the card catalog to look up a resource at the library. Thanks to the e-book that can be checked instantly, so you don’t have to go to the library at all. Above all, encyclopedias are the 1980s, boomer, and thanks to  Google, kids don’t have to go through substantial research papers. It would be best if you consider yourself lucky as you had the joy of adapting to accounts outsourcing and automation. 

Adapted to automation and accounts outsourcing:

This thought has crossed the minds of a plethora of people and almost all business owners as automation have been introduced and taken some jobs completely. Some of the jobs that have been lost due to automation are:

  • Lamplighters
  • Ice cutters
  • Lamplighters
  • Ice cutters

No doubt, these jobs were way before our time, but there are several industries that have faced automation for decades. Twenty million jobs have been replaced since 1980 by automation in the manufacturing industry. One of the services that are viewed to be in danger of extinction due to automation is bookkeeping. Thanks to bookkeeping outsourcing services that are offered through software to update on its own and sync with online bank transactions. Above all, it takes away the need for someone to enter the information manually. It means the role of the CPA is also changing. It is expected that besides bookkeeping outsourcing services, the part of CPA will be more analytical and predictive than reporting what happened in the past. The future of CPA is all about learning how to pivot and embrace changing technology. It mainly shows clients how to implement new technologies, use them, and utilize their expertise to guide. Additionally, they can create a financial story that allows them to achieve their goals.

The best part about automation is that you are now able to serve more clients without spending more time on the details. Outsource accounting mainly takes care of the details. 

All you need to know about E-Business, the Intranet, and the Extranet:

Almost all accounting professionals understand the importance of the Internet. They tend to use the Internet to execute major business processes in the company. Outsource accounting professionals tend to distribute information to employees, such as corporate policies and programs. It features a  portal that is a single point of access. Additionally, they also feature e-mail, internal documents such as the Code of Ethics, and a search tool. Within an organization, it is a fantastic tool to use.

 

Cloud Computing:

Currently, cloud computing is becoming popular. It is known as cloud computing because the name represents the cloud symbol used in flow charts, which mainly means the Internet. The service is said to be provided over the Internet to permanently store data and use business applications over a remote server. Additionally, (SaaS) is a web-based service. In massive data centers, the data is permanently stored, and the accountant would not have to purchase anything. Above all, the accountant should be aware of the security issues involved when deciding to use this technology. Hence, cloud service providers are obliged to provide a safe environment to store an organization’s data. It is mainly because accountants are obliged to understand the risks. Hence technology has changed the way we look at things. [/vc_column_text][/vc_column][/vc_row]