Accounting And Technology: Will Machines Soon Be Taking Over?

Technology is changing the world at an exponential rate. Numerous advances have been brought to a wide range of disciplines, such as medicine and business, allowing for a drastic change in the way organizations work or how people solve problems.

finance_and_accountingImage source: nwscc.edu

While such shift has generally been welcome, there are fears that the accelerated pace of technological advancements could lead the replacement of professionals, such as accountants, by machines. Experts argue, however, that such a scenario remains remote.

These fears have been popping up for decades. What happened, however, was that technology only made the life of the accountants easier, as it removed laborious processes. With all the freed up time that accountants have on their hands, they could now branch out and enter into different fields such as giving out financial advice and providing counsel to businesses. This resulted in the unprecedented increase in the professionals’ commercial value.

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Image source: infinitaccounting.com

The automation of tasks is still rapidly becoming more diverse and abundant, yet this is actually an opportunity and not a threat to the many accountants around the world. With the proper mindset, accountants will arrive at ways to make technology work for them and not the other way around.

Eddie O’ Brien is a certified public accountant (CPA) and the current the CEO of the Americas at Arvato Bertelsmann, a multibillion-dollar business that delivers a host of BPO-related services. He once served on executive positions at Microsoft. For more information on his career, click here.

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Accounting And Technology: Will Machines Soon Be Taking Over?

Technological Logistics: How Digital Technology Is Transforming The Supply Chain

Every company operates on some form of supply chain and logistics command. These nodes of communication are how companies interact with their businesses in the most expedient and efficient manner. As a business grows, so do the nodes that it connects. Global companies understand the importance of maintaining a superior supply chain web. Maintenance steps differ depending on the company and the industry involved yet financial experts all agree on the importance of optimizing digital technology in a logistics operation.

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The reason is simple: consolidation and efficiency. The advent of technology has allowed globalization to occur at a rapid pace. Geography is no longer a limitation when it comes to interaction. This has several major implications. One of the more important ones is that every country, in theory, has access to the same technology and goods and services.

manufacturingImage source: softwareag.com

For example, a medication or vaccine may be used in another country. For that particular medicine to reach another country, there are a few steps and processes to undertake. This involves logistics. Certain medications require specific handling; some need to be at a set temperature or be used within a number of days, etc. Digital technology allows companies to deliver that medicine on time. Furthermore, the technology allows for real-time checks. This means that companies can utilize contingency plans on the spot and ensure quality.

This type of delivery insurance has led many global companies to seek the assistance of many IT and cloud solutions companies. The initial expense may seem daunting, but the overall long-term success is priceless.

Edmund O’Brien is currently the CEO of Arvato and is known in the technology industry as an expert in IT and cloud solutions, among others. Learn more by visiting this LinkedIn page.

Technological Logistics: How Digital Technology Is Transforming The Supply Chain