A Profession in Search of Balance

The accounting profession, known for its meticulous nature in creating balanced transactions, finds itself in an intriguing position – its own balancing act. This was a central theme in the recent LinkedIn Live session, “Accounting in the Modern Age: Technology's Role in a Digital Future," hosted by ShareFile. In this discussion, Jody Padar and I joined forces to share our perspectives on ShareFile's recent accounting survey.

Jody and I approach our profession's challenges from different angles. She’s the " Radical CPA," and I, as "Even a Nerd," have a more traditional view. But we find common ground in many areas, and we agree with each other on the ShareFile research.

Our conversation went beyond the typical topics of debits and credits. We discussed the profound sense of overwhelm in the profession and that many accountants are feeling like they’re walking a tightrope between evolving technologies and traditional accounting practices. There's also a palpable shortage in our ranks, intensifying the pressure on each of us, even as we recognize the untapped potential in new digital tools.

Our profession is defined by more than a set of numbers; it's a dynamic environment where precision and ambiguity intersect. We're constantly juggling, balancing client service with personal freedom, navigating the delicate dance between client interests and regulatory requirements, and of course, tackling the age-old dilemma of cash versus accrual accounting.

We find ourselves weighing tradeoffs between giving individual, often manual, attention to each client or adopting automation technology that can handle many processes on its own. We must decide whether to use solutions that deliver timely insights and accuracy plus built-in security protections, or stick with more traditional tools (such as multi-tabbed spreadsheets) that are familiar?.

The Role of Technology in Bringing Balance

During the LinkedIn Live session, Jody and I discussed how technology isn't just a tool for efficiency, it's also a lever to bring balance into our professional lives. It's about harmonizing rapid digital advancements with the human element of our work. We see these tools as a means to redistribute the weight we carry, giving us more space to breathe and connect as we have more time to engage with our clients and colleagues in more meaningful ways.

Automation as a Tool for Equilibrium

Insights from ShareFile’s report offer a compelling perspective on these challenges. According to their research, our profession is in transition as we integrate modern technologies while preserving our core values. A striking 96% of accountants see automation not as a threat but as a crucial ally. It's not about replacing us but about enhancing our capabilities, freeing us from monotonous tasks to focus on more strategic work. Today’s tools offer us a way to deliver greater value at the intersection of enhanced customer service and applied automation.

Advancements Bring Hope to Accounting

Despite the hurdles around change, there's a real undercurrent of satisfaction within our ranks. Still, we can't ignore the concerns about efficiency, which is hampered by heavy workloads and lack of adequate technological tools. However, there's vibrant optimism about technology's role in our future. Cloud computing, AI, machine learning – these aren't just buzzwords but beacons of hope, promising to revolutionize our workflows.

Elevating Accounting through Modernization

The need for modernization in accounting is undeniable and urgent. It's about choosing the right technologies that align with and elevate our existing workflows, not just adopting the new for the sake of newness. It’s about balancing the high standards of service we seek to deliver with our own need for physical, mental, and spiritual health.

To my fellow accountants, amid these shifting sands, remember: our profession is evolving, and so must we. We're not just balancing books; we're balancing tradition with innovation, precision with creativity. If you missed our LinkedIn Live session, I encourage you to watch it here. It's a conversation that reflects our collective journey toward a balanced and modernized future for accounting.

So let's celebrate the opportunities in the year ahead. The modern accountant is not just a number cruncher, but a navigator of complexities, a harmonizer of opposites, and an innovator in a field that’s as dynamic as it is traditional.

Here's to finding that perfect balance!

Istockphoto Artist

This is a sponsored post written by me on behalf of ShareFile.?All opinions are mine and are based on my?knowledge of accountant and client needs and expectations and are drawn from my own experience in using the product.

About Geni Whitehouse, CPA.CITP, CSPM

Geni Whitehouse is a Libra (always in search of balance) and a consultant to wineries in the Napa Valley through www.bdcocpa.com, is a co-founder of a bookkeeping company for wineries and is a keynote presenter, tech association leader, and author.?She frequently works as a paid consultant for tech companies looking to create relevant content about products that serve a unique need in her own business or that of her clients.