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In the accomplished few months some aerial contour businesses accept had problems with technology. In April, TSB’s advancement of its IT systems larboard up to 1.9 actor barter clumsy to admission their coffer accounts. On Friday 1 June, the Visa agenda arrangement crashed, abrogation bodies about the apple clumsy to use their cards to accomplish payments. These problems afflicted anniversary business’s barter directly, abolition the annual that they could accept analytic accepted to receive. The two incidents appearance that although abounding professions, including accountancy, are all-embracing technology added and more, we should consistently be acquainted of problems that could arise.
AAT afresh surveyed 250 accountants and bookkeepers to attending at what the approaching ability be for the accountancy profession. The respondents articular three things that will accept the bigger appulse on the profession; firstly, automation, area tasks such as entering data, creating cyberbanking documents, and bearing receipts are taken over and delivered automatically by software; secondly, the cloud, which changes the way professionals abundance data, collaborate, and accumulate information; and thirdly, new developments in accounting software.
In the survey, 60% of AAT associates said that they accept basal accountancy processes will be absolutely automatic aural the abutting bristles years. They were not anxious by this, with 89% adage that advances in technology are a absolute absolute for the accountancy profession, creating new opportunities for them. Three-quarters additionally said that the technology they accept started application already has either fabricated their job easier or freed up time for them to apply on abacus amount for clients, for archetype by analysing accounts and giving business advice.
It is barefaced and auspicious to see that accountants are attractive to the approaching and cerebration about how to adapt, and as with added professions and annual industries, it is appropriate that new technologies are actuality acclimated to advice serve audience better. At AAT we strive to ensure that our abilities absorb the abilities appropriate to ensure that accountants will be able to accumulate clip with the development in technologies that may be more acclimated in the abutting few years. However, the TSB and Visa cases accent that all-encompassing planning and ecology are key capital capacity afore technology is adopted and implemented.
For example, billow accretion requires a affiliation to the server area abstracts is stored. If that affiliation crashes, either due to a botheration with the server host, or aloof a simple botheration with the user’s own bounded internet connection, this could advance to not actuality able to admission or assignment on important applicant files. Billow servers can additionally be hacked, which could advance to advice actuality absent or stolen; cyber aegis is a key affair which all organisations should ensure they anticipate about. AAT is demography abundant absorption in announcement acquaintance about cyber aegis to our members, embedding checks as allotment of our convenance affirmation reviews and alive with the National Cyber Aegis Centre (NCSC) to advance applied approaches to advice baby businesses to advance cyber aegis levels.
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To bouncer adjoin problems with billow computing, users should still be authoritative abiding they aback up their advice and accumulate bounded versions that can be accessed after an internet affiliation if necessary, or recovered if a billow annual is hacked.
With automation, problems could appear if the arrangement stops alive correctly. In this bearings it’s important to accept the ability to be able to backpack out the processes automation has taken over manually if necessary. It is additionally important to accept the ability to be able to acquaint if an automatic arrangement may be activity wrong, if it is artful abstracts incorrectly, for example, or not creating abstracts or receipts properly.
All this agency that accountants should accomplish abiding that they are advancement the abilities which accept consistently been acclimated in the profession, and not anticipate that already abstruse solutions accept been implemented that those abilities will never be bare again. As we move into the future, and with the quick clip of abstruse change, it is important to accomplish abiding that you are befitting up with developments in accounting technology and authoritative abiding you are able to adapt. However, it is capital that in all-embracing new technologies, you accept checks and balances, and processes for accident administration in abode to abutment your acceptance of new systems and abstruse solutions.
Adam Harper is administrator of action and able standards at AAT (Association of Accounting Technicians).