By harnessing the power of cloud-based accounting automation software like BlackLine, organisations can eliminate inefficiencies and tackle the long-standing challenge of talent scarcity in the sector. Automation will allow accountants to focus on more high-value work. Photos: Shutterstock Bookmark Over the past decade, the field of accounting has experienced significant transformations, with the COVID-19 pandemic acting as a catalyst for further change. During the pandemic, accountants had to perform complex assessments such as mitigating risks associated with disrupted supply chains, remote work environments and financial uncertainties. They also played a pivotal role in evaluating the financial impact stemming from these risks and ensuring compliance with changing regulations. Advertisement The demands of these high-level tasks have rendered traditional manual data entry, review and revisions increasingly impractical for accountants. These processes are not only tedious but prone to human error. “The advancement of computing and technology has revolutionised the traditional accounting function by simplifying and streamlining processes, particularly in auditing, taxation and inventory management,” said Mr Lee Thompson, senior vice president (Asia Pacific and Japan), BlackLine. He added that the next generation of accounting professionals will need to add digital skills to their toolbox as their roles evolve and diversify: “Besides […]
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