An AAT whitepaper, The Future Accountant, outlines how the accounting profession is undergoing a significant transformation, driven by advances in technology.
This shift, while not new, has been gaining momentum.
It’s true, technology has always evolved industries, removed labour-intensive tasks and allowed professionals to focus on more meaningful work.
However, in accounting, this trend is especially prominent, where automation has radically altered workflows.
What was once manual and tedious — such as entering Self-Assessment figures or ensuring tax calculations balance — is being phased out by advanced systems.
AAT’s research highlights that we are entering a period of fast-paced change, where automation is redefining the profession.
Smartphones, apps, and cloud software now allow accountants to complete tasks like scanning receipts and paying invoices from anywhere.
Reliance on manual data entry has significantly reduced, and this trend is set to accelerate.
The AAT whitepaper also notes that automation in basic financial processes, like bank reconciliations, is becoming the norm.
Accountants can now use cloud technology to manage these tasks, raising the question:
“What does this mean for traditional accounting roles?”
The end of mundane tasks and the rise of strategic consultancy
Cloud computing is playing a pivotal role in this transformation.
Soon, the daily grind of inputting data will be obsolete, thanks to powerful analytics in accounting software and information-gathering technology.
This shift allows accountants to move away from mundane tasks — like filling out VAT returns or Self-Assessment inputting — and focus on higher-value services, including real-time advisory roles.
The stereotype of accountants as number crunchers is fading.
The role is evolving into that of a strategic consultant, where accountants provide insights and help clients make informed decisions.
It’s no longer just about compliance and balancing books – it’s about using data to support business growth.
Why accountants need to embrace this shift — and fast
The role of the accountant has changed, and it will continue to evolve – gone are the days of sitting in front of a screen inputting tax return figures.
Today’s accountant is a financial consultant, guiding businesses through a complex financial landscape.
As technology takes over more routine tasks, accountants must develop new skills.
Data analysis, communication, and leadership are critical areas where automation falls short.
Automated systems can scan receipts and complete tax returns, but they can’t advise on business decisions.
They should be seen as tools to help make your life easier, rather than a replacement of accountants as a job role.
What can you do to stay relevant?
Technology should be embraced as a tool to enhance services, not seen as a threat – let things like information-gathering technology handle much of the heavy lifting associated with Self-Assessment, for example.
Those who balance technology and human insight will do far better in accounting, so perhaps it’s time to integrate technology that makes your job less mundane.
Use information-gathering technology to request documents and chase your clients instead of doing it yourself (or handing it to one of the team).
Even a change as small as this is a massive advantage and increases the amount of time you can spend advising your clients.
Whatever you do, don’t get left behind by ignoring or shunning technology. That ship has sailed.
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