Bentleys CEO Mark Chapman talked to Accountants Daily about technology and how it is impacting the accounting industry.
“I would not call technology a trend; I would call it a major force in the industry now that the digital revolution has had a huge impact,” Mr Chapman said.
“Yes the digital revolution is a threat to traditional accounting but if you embrace it then you're well-positioned to take advantage of it.”
Mr Chapman said that technology gives accountants the ability to offer a much more focused service.
“One thing technology does do is, because there's less compliance due to things like financial statements being much more easily produced, it gives you more time to actually look at them, understand, be more focused in your service,” Mr Chapman said.
“We now really want to focus much more on giving advice, a more detailed approach, so we've got to now understand the systems; we've got to understand the strategy and the products.”
On the other hand, Mr Chapman said technology is creating a greater training requirement.
“Gone are the days where you just do technical training, you've now got to do a wide variety of training, be it soft skills, leadership, communications, team work, but understanding the products as well, also the technical skills but also adding in business mentoring at all levels,” he said.
“I’m not saying this is a result just of technology, it's actually optimising new technology, but it’s creating a need for a more rounded accountant, much more comprehensive, understanding other skills, not just technical skills, so we're adapting to that as well.”
The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day