The accounting automation is to leverage the improvement and advancement of new technologies to simplify as far as possible the accounting process of a company.
As a result of the Industrial Revolution, all sectors have been evolving and automating both their production processes and the processes necessary to carry out business activity.
Accounting also had its time, and in 1960 with the advent of new computers the first manual accounting systems were automated.
A little later, more specifically in 1981, computing became popular and allowed accounting information systems to be integrated into databases.
In the 21st century, communication technology and networked computers have made it possible to automate the capture of data, the electronic exchange of documents, significant savings in paper and, most importantly, having any accounting information available with a single click.
This entire accounting automation process acquires greater importance depending on the size of the company, where the development of an accounting system that is effective and accurate can become a great challenge for the company.
Advantages of accounting automation
Accounting automation offers us a series of very interesting advantages:
- Simplicity of use: the software is easy to handle and any confusion, mistake or failure that is made can be solved quickly, having to avoid reviewing accounting books with the great loss of time that it entails.
- Saving time: with a single click we have the opportunity to have any accounting document necessary to make any decision or send accounting information from one place to another without the need to transport accounting books, papers or folders containing information.
- Knowledge of the status of your company: accounting automation allows us to monitor, check and contrast the accounting of your company at all times.
- Backups: The move from manual accounting to accounting automation allows us to make as many backup copies as we want, making it much more difficult to lose our vital information for the company.
It is clear that accounting automation has been a great advance and of great help for companies, but there is still much to advance in this branch.
The capacity for innovation, the management of intellectual capital, the risk to which our company is subjected, motivation or learning continue to be a great challenge for accountants, who are trying to develop a methodology that allows us to value and record the intangible assets of the companies.
We must be prepared to accept this challenge and familiarize ourselves as quickly as possible with the new concepts that emerge, new ratios and reports, new indicators, etc. because if we are not updated, we lose opportunities … And you, are you prepared?
“In times of change, those who are open to learning will own the future, while those who think they know everything will be well equipped for a world that no longer exists.” Eric Hoffer