Hello Robot: automation in accountancy

A couple of weeks ago one of our team managed to catch the last days of the ‘Hello Robot’ exhibition at the V&A Dundee. One of the displays included a screen with BBC’s “Will a robot take your job?” website. Who could resist, right?

Apparently as chartered accountants our job is at a 95% chance of becoming automated! So, are we accountants relics of a pre-computerised era or is there still a place for us in the professional world?

Within one lifetime we moved from paper ledgers through clunky desktop applications to cloud based software accessible everywhere in the world while fast growing machine learning algorithms make dreary, repetitive tasks much less time consuming.

But even with the introduction of ever smarter bookkeeping and accounting software options, the prophesied obsolescence hasn’t materialised. On the contrary. Implementing software options like Xero and Auto Entry in our practice, while ensuring accuracy and efficiency, allows us to streamline compliance and focus on helping small businesses grow through a range of more personalised services:

• Business solutions: whether you outsource your bookkeeping, or you prefer doing it yourself, we can assist with setup and training with a variety of software solutions.
• Budgeting and forecasting: both are essential when considering investment, financing and growth of your business. They can help you understand your business’ position in the market, opportunities and risks affecting its activities and plan for the future.
• Cashflow management: read our blog outlining the importance and main challenges of cash management here
• Systems and controls reviews: whether as part of a statutory audit or a standalone engagement we can help you plan and implement controls that will work for your business and ensure efficiency as well as provide peace of mind that everything operates as intended.

Rather than shy away from innovation, at JS we embrace it and use it to help our clients in daily accounting tasks and developing their businesses.

Photo by Alex Knight on Unsplash