The Bookkeeper of the future

by in Blog

Bookkeeping Australia, The Future how will it look like ?

When looking into the future of how the bookkeeping Australia profession will look like? what will be the skilled required by a bookkeeper? will we be replaced by robots? what kind of tools be at our disposal? what will the accounting software be like? and so on.

When trying to sketch the vision of the accounting profession from our point of view of the present, knowing what we know about the new technologies that are just around the corner, there are a few major changes on the horizon that every bookkeeper must take note today in order for him/her to stay ahead of this wave rather than washed by it.      

Major change No #1 – Paperwork:     

In today’s business world paperwork is the name of the game, as it authenticates our business operations, but think about the future and our footprints that will make our future generations much more complex and as such will be abolished altogether. 

We must understand and get educated on the new technologies that will support the abolishment of paper from our business life, the sooner the better.

Major change No #2 – the transformation of Banks:     

Banks are crucial for the business world. they create the fuel that make the whole thing run. without banks, there is no way a business can run, because as you all know you need money to make money and banks was created for this purpose. 

In the next 10 years, banks will look and feel much different from what we know now. Banks will have no branches as they won’t be needed, the transformation will be as a result of faster and more secure wi-fi networks. the use of cash will be limited as more and more businesses will be exposed to the future banking. This transformation will be shared by insurance companies as well. the entire way we do business will change as a result of Business Intelligence it systems.  

Major change No #3 – Accounting software:     

The accounting Softwares of the future will be able to process more transactions without men made interference. The software will work almost by itself. and here lie the biggest challenge for the bookkeeper: how to make myself relevant when my work is performed by an automated machine?     

For conclusions and tips:

The future of bookkeeping Australia, where the focus on the need for a repeating task will decline sharply, as a result today’s bookkeeper must prepare in order for him/her to cope with this change is to be the master of the new technology. instead of being the person that record the transaction, you must be the person that oversees the process. The need for the I.T Bookkeeper will grow exponentially, and your job is to be that person.