It's next to impossible to overstate how much technology has (and will) change the face of business. But what is just as remarkable is how crucial the human element remains in offices around the world.
Advances in automation, big data, machine learning, and sophisticated analytics promise to make the impossible accessible. What these technologies will not replace, however, is highly-trained professionals with extensive experience and expertise in SaaS accounting.
No matter how intelligent or powerful IT becomes it will never be able to replace the good judgment and smart sense of someone like a seasoned accountant. The technology of today and tomorrow is excellent at reproducing work. But it's a lot less capable of producing more work. In other words, an IT infrastructure can’t carry out a growth strategy.
Human talent is the single most important asset to any organization. And as new technologies begin to become more ubiquitous, it is individuals rather than IT that will give companies an advantage.
This may not sound like a revelation, but many decision-makers have unconsciously adopted a technology-first strategy. It's common to think that something just coming online or moving down the development pipeline will provide a high-tech solution to a complex problem. But there are significant limits to those solutions. And the right people add value that is entirely unavailable otherwise.
This approach gives you all the benefits of a new piece of IT. For instance, Managed Accounting Services (MAS) are a way to introduce best practices department wide and optimize the most crucial workflows. Like the best new technologies, managed services make it easier for you to do the things you know you need to do, such as prepare your startup investor reports.
But unlike much new technology, managed services don't require a major investment, a major training effort, or a major reorganization. Most organizations have at least a few horror stories about relying on tech solutions that were confusing, complex, and ultimately catastrophic. But with Managed Accounting Services, companies can subscribe to the outcomes of a finance and accounting department without worrying about managing the people, the technology, or the transactions that underpin those outcomes.
It is not wise for any company to ignore the promise and potential of new technology. But it's also folly to commit too fully or faithfully to any single tech product. Dismissing the value of great talent available on-demand is missing out on a major opportunity.
AcctTwo has established itself as a leading provider of Managed Accounting Services. And we know how to find the precise balance of talent and technology that today's companies require. Please contact us to learn about all that we can do for your accounting and finance department.