Accountants can no longer rely on maths alone

September 27th 2019 | Posted by Dave Cross

Accountants can no longer rely on maths alone

Accountants can no longer rely on maths alone

Being good at maths is no longer enough to become a successful accountant.

Over the years, technology has spread into every sector and department.

From marketing to accounting, technology is now a prerequisite in order to grow any business. Partly owing to these technological changes, accountancy has evolved beyond crunching and calculating numbers.

Statistics from the accountant exhibition firm Accountex show that the advent of artificial intelligence is set to create 2.3 million new jobs, although the change will result in 1.8 million jobs losses.

Therefore, as an accountant, you must ride the wave of technological change, which has already changed the landscape of accountancy.

Keeping up-with-technology

Many accountancy firms have ditched the traditional ways bookkeeping and number crunching in favour of using the cloud and ‘fintech’ in order to bring more efficiency to their business.

They also want to meet the tech-savvy expectations of their new clients, who demand specialised business advice, which would be only accessible using new technology.

With the growing technological needs of accountancy firms, it’s clear that modern accountants must be willing to up-skill and become tech-savvy in additional to the traditional skills needed.

Having a growth mindset

Using their statistics, Accountex has made it clear that the future of accountancy lies with those who are willing to change with the growing technology and not with those who only stick to numbers. Therefore, adapting to technological changes that are taking place in the industry right now is expected of modern accountants.

It is these accountants, who are more likely to secure a job with the best companies.

If you are an accountant looking for your next role, register with us.