Automation is a word both intriguing and unnerving. Yet, no matter what feelings it evokes, one thing is clear – introducing new technologies in business provides promising opportunities. Such state-of-the-art solutions are no longer introduced solely in the manufacturing sector but also in the service sector, as well as accounting. Will the automation of accountants tasks lead to their positions becoming obsolete? Can automation and human input work together?
Financial processes automation
The most recent predictions regarding the automation of accounting processes suggest that in the future all tasks regarding bookkeeping may be taken over by systems specifically designed for it. These systems have been tested by many companies for years, and they are constantly being perfected and updated, so that in the future highly trained employees could be replaced first partially and then entirely by modern technologies.
Accounting in the modern world
The automation of accounting processes should be of interest to entrepreneurs who run big and medium-sized businesses and think of optimizing the working time of accounting departments, whilst maintaining a dynamic company growth. New technologies facilitate data entrance, invoicing, NIP and VAT number verification, preparation of accounting contracts, or submission of tax declarations. Thanks to automation all processes are completed much faster and more accurately.
How not to be replaced by AI?
Although such predictions may not seem too optimistic for the employees, it does not mean that all accountants will lose their jobs. In the era of technological development it is important to focus on personal development and discovering new competences which are compatible with our profession. Finance automation is an opportunity for those who are not comfortable with carrying out tedious tasks which require precision. Instead, such employees will be able to focus on more interesting areas of their work, for example crisis management, tax optimization, or accounting management in order to help with company growth.
