Cloud Accounting Software: Diminished or Expanded Role of Accountants

Cloud accounting software is an area more and more accountants are exploring with their clients as cloud technology evolves with ERP solutions. This new cloud ERP technology is adding new excitement to accounting which is one of the oldest professions in the world. The accountant's job description has certainly changed greatly over time, from counting the king's gold to entering vast amounts of data on spreadsheets. However, an accountant essentially offers a service that has not changed. People have required accountants for as long as currency has existed, and will likely continue to need them until the end of time. The point is that accounting professionals will always have work to do as long as people and businesses are trading with currency. In this blog, we will explore how cloud accounting software is changing how accountants get their jobs done moving forward.

Cloud Accounting Software: Are Accountants Now Playing a Diminishing or Expanding Role?

Accountants playing a diminished role with cloud accounting software?

Cloud accounting software programs commonly advertise as an all-in-one solution that covers the entire operating systems for financial management, BoxFreeIT contributor Roger Gregg pointed out. The possibilities of cloud accounting software are nearly endless, from filing one's taxes to expense tracking, or simple online payments. The way this sounds doesn't leave a lot of room for accountancy firms to continue to offer these traditional services to their clients.

Small businesses still need their accountants to manage their books, decisions and expectations. However, the more popular cloud accounting software becomes, the less they can continue billing for the same prices. And in the not-too-distant future, if everything a company hires accountants for can soon be covered by a computer program and an intern, why spend any more money on a third-party financial firm? In this new environment, can accountants keep their head above water?

It may be that accountants simply need to extend more services to their clients to make their skills more attractive. "Accountants need to expand the services they offer, and to start to understand the opportunities that exist in providing expertise and services through third-party cloud apps that connect to core accounting products," said Gregg. "This ecosystem of 'add-on' programs looks pretty attractive as a source of expertise and billable services for accountants."

Accountants playing an expanded role with cloud accounting software?

Rather than financial management software replacing them moving forward, it may be that this technology will actually make the job of the accountant more dynamic. These financial professionals now have an unprecedented level of access to their clients' data, and the opportunities for collaboration are immeasurable. No more faxes, data transfers or mailed-in documents means a lot less frustration for everyone involved, as well as a big boost in productivity.

In a recent survey by the American Institute of Certified Public Accountants, it confirms that, while nearly half of the polled businesses have embraced cloud-based accounting solutions, CPAs still play an instrumental part in their clients' finances and ERP (Enterprise Resource Planning) software solutions and other technology used. It seems as though accountants are not only here to stay, but that they can now work more effectively than ever.

If you are interested in learning more about cloud accounting software or have any questions about this this blog CONTACT US. If you are looking for cloud accounting solutions or ERP consultants to help take your business to the next level, contact us at www.arxistechnology.com or www.arxiscloud.com, or call 866-624-2600.

Arxis Technology, Inc. is an ERP technology consulting firm specializing in the implementation and support of accounting and business management software, custom application development, and network engineering and design. As ERP consultants and resellers for Intacct Cloud Financials, Sage 100 ERP (formerly MAS 90), Sage 300 ERP (formerly Accpac), Sage 500 ERP (formerly MAS 500), SAP Business ByDesign, SugarCRM, and SageCRM, Arxis services clients from locations in Los Angeles, Orange County, Chicago, Phoenix, Washington DC, Philadelphia, Baltimore, and Ireland.


Another version of this blog was posted on Arxis Technology, Inc.’s blog site on 3/12/14:  http://www.arxiscloud.com/news/cloud-computing-trends-how-cloud-tech-is-changing-the-role-of-the-accountant.asp

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