DATA ANALYTICS

DA & Accountants

With the growth of low-cost cloud computing, offshore processing, and artificial intelligence (AI), accountants value proposition is shifting from preparing accounts (decreasing margin) to becoming analysts and engineers of a business Data Analytics (DA). This touches on KPI management, sales growth, organisation performance and strategic reporting; exciting times indeed!

The evolution of low-cost cloud computing, offshore processing, and artificial intelligence (AI) is transforming the role of accountants from traditional data processors to business analysts and engineers, particularly in the realm of DA.

The rise of AI has automated manual data processing tasks previously performed by accountants, challenging their traditional value proposition. Cloud software accessibility and decreasing software costs further intensify this shift, pressuring accountants to find new ways to offer value.

While cloud accounting software can serve as a basis for advice, the market may become saturated as more accountants embrace this approach. The text suggests that accountants who solely rely on financial software data may find themselves in a competitive market with limited potential for value addition. The opportunity lies in creative thinking and differentiation, with a focus on leveraging data from businesses’ Customer Relationship Management (CRM) software to stand out in the evolving landscape.

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