How accountants cope up with technology in accounting 

The technology sessions at the recent AICPA Practitioners Symposium and Tech+ Conference in Las Vegas has raised one important lesson. That is the manner by which the accountant handles the business could mean the difference between staying in business and retaining clients or being lagged behind the competition and eventually closing the business for good.

However, no one can also put the blame on accountants for the slow response to change. The question here is not really with when they will accept the next wave of change, or if they ever will accept this change. It is how far lagged we will be when this happens.

Do cloud and mobile technologies really provide the answers for most firms?

The answer of AICPA is YES. Though, it has made no statements as to where the profession needs to go. If doubts of this notion arise, then the answer is nowhere else but in the statements and actions of the marketing arm, CPA2Biz, and its president.

The most obvious signal for the expression of the AICPA’s desire to make accountants embrace technology for their own benefits is the combining of Prac and Tech for the second year in a row. But if this is still not enough sign, then the message was drove home by the keynote address of AICPA President and CEO, Barry Melancon.

“We are facing a situation today where technology that relates to the profession and ensures the profession survives is coming to light. It is the most significant technological time since the microcomputer,” Melancon said. “Cloud computing is a fundamental circling back in the client accounting world as cost structure and profitability is changing. Mobile computing is going to change the way we do accounting and interact with our clients,” he added.

Other points that add to the statement of Melancon were those discussed in the information sessions. There were the usual representation of showcases of vendors including the general “how to” sessions. Cloud and mobile technologies were also looked at and how these practices may be improved.

There is already pressure on accountants to change. They however still need more evidence of the direct benefits. A frustration expressed by an attendee in the session entitled, “Create New Sources of Revenue with Cloud-based Accounting Applications”. He loudly said that “all I’m hearing is the cloud is here, and you are an idiot if you are not there. Where’s the ROI?”

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