Almost every industry is going through upheaval from the numerous new technologies that seem to be hitting the market every single day. The ever-growing tech revolution is continually introducing new ways to streamline various business processes and increase productivity and efficiency so that organizations can steadily grow and improve. 
The accounting industry is no an exception. Accountants can now wholly transform their businesses with simple tech innovations that help them handle repetitive, time-consuming tasks with ease. Moreover, those innovations help them effectively grow their businesses due to accurate reports and analytics, so they no longer have to worry about human error and potentially costly mistakes.
So, what are the critical tech innovations that are opening up more opportunities for accountants? Let’s take a look.
1. Cloud-Based Accounting Software
On-premises accounting software isn’t without its share of benefits, but cloud-based accounting software enables you to seamlessly take care of all your accounting tasks from anywhere you are. You can access your data anytime and anywhere, regardless of the device you’re using, and always keep your finances in check.
This type of software saves both time and money, with many of its features designed to help accountants make data-driven business decisions and grow their organizations. Since it’s located in the cloud, you don’t even have to pay for all the features – only those you need, and then scale up as you scale your business.
Furthermore, you don’t have to worry about security and maintenance when you utilize cloud-based accounting software, because your software vendor will manage that. They will update the system, maintain it regularly and ensure that your data always remains safe and secure.
2. Intelligent Automation
Artificial intelligence is the future of accounting, but it’s not something that will put accountants out of their jobs. Quite the contrary, AI helps accountants complete their tasks more efficiently and effectively, as it eliminates the risk of human error and reduces their liability.
That’s precisely why intelligent automation is on the rise. It enables accountants to automate repetitive tasks, such as keeping track of receipts, handling transactions and generating financial reports. Combining the strengths of AI and accountants makes way for very lucrative business opportunities.
3. Accounting Bots
Because bots are AI-powered, they actually learn and get better and more accurate with more time and data. They can handle transactions and payments, enter the data, scan and edit documents, generate accurate reports, send emails and communicate with clients in real time.
They can do all that simultaneously and complete every task in a matter of seconds, which saves accountants and bookkeepers lots of time, enabling them to focus on their core competencies.
These tech innovations can revolutionize your business, so you should embrace them. When choosing top rated apps for accountants designed to optimize your business, have these technologies in mind, and you’ll make the best decisions for substantial growth.
Author Bio:
Jaren Nichols is Chief Operating Officer at ZipBooks. Jaren was previously a Product Manager at Google and holds an MBA from Harvard Business School.