Accounting tech trends for 2015
December 17, 2014
It's the end of the year, and predictions about trends in accounting technology in 2015 have already sprung up. Accounting firms can expect major changes, and with those advancements, fantastic benefits for both employees and clients.
How technology helps accountants
LinkedIn cited a report by technology advisor Roman Kepczyk at CPA Trendlines?, which outlined some of the electronic systems accounting firms have adopted. For instance, using automation and data analysis has helped accountants work better with clients. Another technology that has helped push that software to the next level is multiple desktops, with nine out of 10 firms using them, according to the source. Three monitors per desk have also become common.
Last year, CPA Practice Advisor predicted tax preparation would become a very prominent feature in accounting software in 2014, and the speculation was right on the money. For 2015, the source expects that government pressure will improve cybersecurity. It can help accountants in a variety of ways when they utilize the technology available to them, as data and information is at risk if an accountant makes the choice not to research the best strategy to suit his or her company database. Backup policies in a firm are also necessary to keep that data safe.
Moving beyond the paper and pen
All this new technology brings a focus outside the original pens and papers accountants had to use to keep track of information. LinkedIn mentioned how the Internet is essential for any accounting firm's software, but these companies also need to keep in mind how much they are spending on it. The new year is an opportunity to review Internet costs - as well as everything else - and see if there are options to reduce the cost.
With the Internet comes cloud technology, and more firms are expected to go that route in 2015. Cloud technology helps employees access data remotely, and programs like Microsoft Office are now able to be leveraged on the cloud. Servers can be updated to suit this technology, and the source recommended that if a firm hasn't updated it in more than four years, it's long overdue. Technology goes hand-in-hand with portable devices like laptops, which are now almost an essential tool for a company that wants to keep up with the expectations of a modern office.
The coming year holds a lot of expectations for technology, and firms are gearing up to have more options available to them than ever before. With technology advancing as fast as it is, working with clients will be an even more efficient and approachable process for all accountants.