Process Solutions Group Newsletters

Changes in accounting – The focus is on automation and capacity management

According to the forecasts, the digitalization and evolution of robotics will significantly transform the labour market. Opinions are mixed on the future of accounting, so we were following up on what changes we can expect within the profession in the near future.

Digitalization and Automation

14-02-2019

Hungary

Accounting

Automation in accounting, Robotics, Capacity management, Digitalization

András Szalai, Managing Partner of PS says, “Change and technological innovation is a part of natural evolution, companies need to keep pace with the constantly developing market and make technology a priority to remain competitive. Both internal and external motivations are significant for the execution of such developments.”

 

Automation

Regarding the changes in the field of accounting, a lot of workflows will be affected by automation, the time for simpler routine tasks is reduced, and thus the capacity can be used by professionals to perform higher value-added tasks. In the following years, you will not need that much data recording or manual production of reports and tax returns, however, the analysis of the reports and the tasks by drawing of appropriate business conclusions will be more important. This also means that the available capacities will be able to meet the customers’ needs even faster and in wider areas.

 

Capacity management – a tool for more efficient work

In parallel with the development of technology, improvement in efficiency is also expected from service providers, which requires more attention to capacity management as well. For this purpose, PS has developed a software that provides quick and effective assistance for middle and senior executives/managers by showing where free capacity is available or if there is a shortage within the team. The software provides an opportunity to optimize the resources, to reallocate if necessary, to make everyday work as productive as possible and improve client service. According to PS, there is no need to be afraid of automation, because colleagues will have more capacity to carry out their more challenging tasks that require more creativity, and younger generations are more likely to embrace new innovative technologies, they have an appetite for constant innovation.

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