You're navigating the automation era in accounting. How can you leverage it to your advantage?

In the automation era, accountants can elevate their roles by leveraging tools like AI for tasks such as data entry and reporting. Automating routine work frees up time for strategic financial analysis, enabling deeper insights and better decision-making. For example, using software like Xero for payroll automation reduces errors and improves efficiency. Embracing automation not only boosts productivity but positions you as a proactive, forward-thinking accountant driving value in the digital landscape.

In conversation with other Bookkeeping and accounting firms, I have heard several professionals predict that Bookkeeping as a trade will be gone in the next 5 years as it's taken over by AI. Most of these accounting professionals started their careers working with with pen and paper or manual data entry. Yet, the profession is still around after computers made accounting less labor intensive. We should embrace the tools that allow us to provide a better, faster and more economical service to our clients and remember that in most cases people want to work with people, not with computers. Letting the machine do the "dirty work" free us up to get to know our clients better and step into a more advisory role.

Gaining more knowledge is the best way to spend time freed up by automating processes in your bookkeeping and accounting practise. If that knowledge also improves your clients chance for success, even better. My team and I are constantly evaluating new applications and features that can improve processes via automation for our clients. Being able to go that extra mile for them and gift them productivity, saving them hours and hours, is outstanding customer service that will keep on giving in your business. A wonderful investment.

In the automation era, I leverage technology to enhance accounting by automating repetitive tasks like data entry and reconciliation, allowing me to focus on strategic analysis and advising clients. I continuously upgrade my skills in accounting software, data analytics, and emerging technologies like AI and RPA. By streamlining workflows, I reduce errors and access real-time financial data for better decision-making. Automation also ensures compliance by keeping systems updated with the latest regulations. With more time, I focus on fostering client relationships and providing personalized advice, while using data analysis to uncover insights and drive business growth.