How many hats can an accountant wear?
Over the last few years, the burden on accountants has increased. Inextricably linked to all departments, the accountant in industry today can find themselves donning multiple hats and roles during a given week.
We have become the FC, the CTO, the CIO, The DPP, the CFO, company strategist, digital ambassador, possibly dabbling with HR and numerous other roles.
So many of our clients in mid-range organisations have seen their role expand far past historic accounting activities. The profession is expanding, and their reach and impact expands far past the previous traditional roles and responsibilities.
In an era of Big Data, Digital first, True-Cloud, cyber threats, remote connectivity, supply chain problems, the hard-working FC has become adept at keeping aloft so many spinning plates.
It’s somewhat ironic that if and when new business challenges or strategies are introduced, the door to the Accounts department is apparently always open and welcoming all new challenges. One long standing FC in a not-for-profit recently told me that at this stage he doesn’t know what new task or ask, will walk through the door each day.
The reason for this is that Accountants understand the urgency and need for a specific focus, for a pragmatic approach, and more importantly can understand how all these factors share commonalties throughout your key business systems, IT topology, disseminated processes, and operating policies.
This does make your role far more challenging but far more essential to the future of the organisation.
The book-keeping system of old is now a fully integrated, enterprise-wide, business solution with a reach into all departments and areas of operation. This living, breathing environment needs respect, focus, forward thinking and an openness to expect more, to evolve through your systems adoption as your organisation also evolves.
The role of data protection and GDPR, the challenges of integration to 3rd party systems, the expectation of business intelligence on demand on any device at any time, the remote workforce needs, have shaped your current processes. Accountants must be responsive to ever changing management and customer needs, we can better understand the benefits of big data, of business intelligence, to trigger change, to make fact-based decisions, to identify trends, to avoid negatives.
These areas do not happen overnight, it’s not a switch that’s turned on, it’s a managed operation that requires insight, collaboration, and focus.
The historic isolation and single silo that was the accounts department has drastically changed. More and more when discussing new solutions with clients, we run the gauntlet of myriad demands over and above what is currently in situ with their legacy system
True-Cloud technology is a must to support their digital first policy. Enhanced confidence and security needs are reassured by the strength of the Microsoft Azure environment removing local server risks and worry. Data entry control, data access control, external links to their chosen BI solutions are exceptionally high on the list. With an expanding and evolving role, modern accountants need a modern and evolving accounting software that can be the glue to bring the disparate departments and activities together. Management and users need to have confidence in the changes that they must undertake to deliver on the new vision.
The move to Cloud accounting isn’t just to repeat the same processes and historic limitations that were in your previous software… it is to take those various hats and define the future MIS strategy, the future scalable and sustainable business processes, and operational methodologies. To prudently anticipate what’s next in your sector, in your organisation. To take advantage of what innovation, machine learning, automation and API integration can deliver in real terms, to deliver the biggest impact, to raise expectations, and to deliver your next generation of growth and success.
- October 13, 2022
- 11:12 am