Are Professional Financial Jobs at Risk from Automation
A recent report released by the Australian Industry Report 2013-2014 tells a very startling forecast that could disrupt how people perceive their jobs. The report stated that the existence of robotics and automation could affect 500, 000 jobs in high-skilled industries, especially in the financial sector.
What is bookkeeping in the 21st century? Or what will become of it in the perceived technologically-predominated future? But this isn’t something to worry about in the real sense. There is a silver lining behind this changing landscape for bookkeepers. Cloud bookkeeping still recognises the roles of bookkeepers and has not yet replaced the entirety of their functions. In short cloud bookkeeping doesn’t work by some magic alone without the people looking over it.
Bookkeeping will remain to be an essential part of managing a business’ finances, and will continue to do so in the long-term future. Cloud bookkeeping only makes the work easier and faster, and these don’t mean that the technology doesn’t need human intervention anymore. Bookkeepers add a human touch to the process, and this human touch equates to realistically satisfying customers.
The Advantage of Automation for Bookkeepers
Because cloud bookkeeping screams the undeniable advantage of automating entries and bank reconciliation, bookkeepers see this as an opportunity for higher productivity and cheaper operational costs.
The report found that automation in industries would produce new skilled job areas and opportunities. The fact that people don’t run out of things to do and need, bookkeepers in the industry will develop new skills in solving problems intuitively and perform things creatively. These are the human elements that automated applications lack.
The secret for countering this big change is to adapt and invent new ways of keeping up. If one business owner has not yet jumped into cloud bookkeeping, he might fall behind in the fast-paced market. Adoption to modern bookkeeping is a must, and that means turning to the cloud to automate processes with the help of a knowledgeable finance professional- the bookkeeper.
What Should Business Owners Do Today?
So if keeping up with the advancement of technology is the only solution to succeed, how should businesses make this work to their advantage? Here are some tips to optimise the cloud for their bookkeeping efforts:
• Get hold of a cloud bookkeeping software that will connect to your bank accounts and automates transactions.
• Use online invoicing for easier payments.
• Always do bank reconciliation
• Connect your ERP to your bookkeeping system if possible.
• Provide login access to your bookkeeper for quick financial advice and quality assessment.
So what is bookkeeping really in the automation era? Modern bookkeeping helps you grow your business without having to tear yourself down in the process. Now the figures your business is producing are at the tip of your fingers.