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Gone are the days of dusty ledgers and manual calculations (thank goodness for that, right?). Technology has swooped in, transforming the way accountants work. From cloud-based software that lets you access financial data from anywhere with Wi-Fi, to data analytics tools that turn numbers into insightful trends, the accounting industry has definitely changed.
Still skeptical about updating? Are you thinking, “Why fix what isn’t broken? Things have been fine for years.” Well, consider this: would you trust a pilot who still flies using paper maps? Probably not. Similarly, staying up-to-date with technology keeps you relevant and, let’s be honest, less likely to be outshone by an AI-savvy intern.
Well, you’re in luck because I’m sharing what tech skills you need to keep your career sharp.
4 Key tech skills that you need
Cloud-based accounting software: From paper to productivity
As we learned during the pandemic, it’s hard to work remotely when you’re dealing with paper files. Cloud accounting lets you collaborate in real-time, securely store data, and kiss USB drives and filing cabinets goodbye. Cloud-based accounting software like QuickBooks Online makes life easier. Mastering cloud-based accounting software is one of the key tech skills every accountant needs to stay efficient and competitive.
Now you can access your financial data securely from any device with an internet connection. No more frantic searches for lost invoices or waiting for the mail to arrive with an important document. Everything’s up there in the cloud, making teamwork with clients and colleagues smoother than a perfectly executed spreadsheet formula.
Instead of chasing paper trails, you can spend more time doing the fun stuff, analyzing those numbers and dropping some serious strategic advice to your clients.
Data analytics: Turn numbers into insights
Crunching numbers isn’t just about balancing the books anymore. With data analysis tools, you can spot trends, make better financial forecasts, and impress your clients with your newfound clairvoyance. Numbers don’t lie, but they can definitely tell more than just the bottom line.
Whether deciphering sales performance, uncovering hidden cost-saving opportunities, or predicting future revenue streams, data analytics is your answer that empowers you to make informed decisions that drive business growth. Tools like Amalgam specialize in integrating data from various sources, giving you a comprehensive view to analyze performance effectively. This means you can make informed decisions that optimize strategies and discover hidden opportunities.
Delivering detailed reports that not only break down the numbers but also provide actionable insights that set your clients up for their next big win. Now that’s what I call crunching numbers with a purpose!
Automation: Work smarter, not harder
I don’t think there’s anyone out there who doesn’t like free time. But if you’re still not automating your tasks, I seriously doubt it. Automation liberates your time to focus on the tasks that truly demand your brainpower (like the complexities of client’s tax savings). Some accounting tasks are as thrilling as watching paint dry.
For faster payments and automatic reconciliations, Forwardly’s instant payments and 4-way sync feature ensure your payments are simplified, keeping your accounts up to date. We’re talking payments sorted in 60 seconds, day or night, rain or shine. This leaves you with better cash flow and more time to strategize and innovate, rather than getting caught up in administrative tasks.
With these tools at your fingertips, you’ll wonder why you didn’t automate sooner.
Cybersecurity: Don’t be the weak link
As an accountant, you’re the gatekeeper of all things financial, so beefing up your cybersecurity is non-negotiable. Keep your systems and apps updated to keep software exploits to a minimum. Anti-virus software can help block malicious software and reduce your risk of fraud. For instance, it can prevent an email phishing attack that could put your customer data at risk by flagging the email link.
And let’s not forget about passwords, make them strong and unique for each login you use. You can also be one step ahead and enable multi-factor authentication for added security. Password managers like 1Password make it easy to save and share passwords in secure vaults.
Consider setting up payment approval processes for important transactions, so multiple people will need to give the green light larger payments. Approvals are a simple but effective way to prevent fraud and errors, giving you peace of mind.
Always double-check sender details and give suspicious links and attachments a serious side-eye before even thinking about clicking. And for the love of all things digital, back up your data regularly to secure cloud storage or external drives. Trust me, you’ll thank yourself when you avoid a data loss disaster.
By being proactive and using these simple strategies, you’re not just protecting sensitive info, but also keeping your business and your clients’ businesses running smoothly.
The accounting world isn’t what it used to be and that’s a good thing. With cloud software, automation, data analytics, and cybersecurity in your toolkit, you’re not just keeping up, you’re staying ahead.
Using these tech skills doesn’t mean throwing out everything you know; it just makes your job easier (and maybe even a little more fun). The more you adapt, the more valuable you become. So why wait? Start leveling up now!
Originally published on LinkedIn.
