Sage Business Cloud can help you stay on top of changes to the world of accounting. It’s amazing how many changes take place in an industry that for many years remained relatively stable.
In decades past, accounting had more to do with tracking debits and credits, receivables and payables, than it did with strategic business decisions. Today, that’s all changed as accountants have become even more indispensable to the team setting the company’s strategic vision. Accountants are part of business management, an important voice in the future of an organization. Software such as Sage Business Cloud can support the changes you need to make and help your accounting team stay on top of things.
Nothing Stays the Same Except Change
There’s an old saying that nothing is constant except change. That goes for the world of accounting, too, where several trends are driving a great deal of change. Some of these trends are larger, market forces that are affecting many industries, including accounting. Others are specific to the accounting industry itself.
- Connectivity: Customers today demand real-time updates. They expect an interconnected world in which information flows freely and in real-time. Internet, cloud, and other technologies have raised expectations about how quickly and easily data can be accessed. The accounting profession is recognizing the benefit of interconnectivity and the ease with which they can keep clients informed. Connecting with clients using technology is at the vanguard of technological innovations affecting accounting.
- Automation: Manual data entry is the bane of many companies. It’s time-consuming and open to mistakes. Technology that integrates accounting and ordering systems eliminates many tedious manual data entry tasks. It also eliminates the errors that go with them, improving the accuracy of information.
- DIY Accounting: DIY is all the rage with consumers and it is growing in popularity among business owners, too. Why spend a lot to outsource tasks when software makes it possible to do them yourself? Accounting software packages have been on the market for many years and, of course, some companies still use the ubiquitous spreadsheet. Newer software packages make even complex accounting tasks easier and help you do much of your accounting on your own, perhaps having your accountant or CPA review files at the end of each month, quarter, or year.
- AI and Machine Learning: It sounds scary—machines learning tasks—but machine learning is now part of the business world and it is affecting accounting, too. Machine learning means that machines learn from mistakes and tasks to better predict future responses. When it comes to accounting, both machine learning and artificial intelligence are helping accountants view data in real-time and make better predictions based on data.
- Specialization: Specialization is impacting nearly everything from products to people. Accounting software now comes in specialized packages or bundles, so that no matter what industry you are in, you can purchase software specially designed with your industry needs in mind. You no longer must settle for generic alternatives when customized ones are so readily available.
The Best Software Package for Managing Change: Sage Business Cloud
With so many trends disrupting and influencing the accounting profession and accounting software, the field is changing rapidly. You no longer should settle for run of the mill software or spreadsheets to manage your business data. Sage Business Cloud offers a powerful group of business applications in one convenient package.
Sage Business Cloud includes accounting, finance, payroll, and payment information, as well as resources for banking services and human resources. You’ll be able to manage the changes in your company anytime, anywhere, thanks to this cloud-based business suite.
Accounting is a profession that hasn’t changed much over the centuries—until now. With the advent of the computer and the cloud, change is now the new normal. Manage changes to your company’s accounting while on the go or at the office with Sage Business Cloud.
IWI Consulting Group
IWI Consulting Group puts people first, especially our customers. We help businesses gain insights into their operations, inventory, and profitability. We provide software and support for a wide range of industries throughout Canada. For more information, please visit IWI Consulting Group or contact us today.