In their new report ‘the future of work’, Deloitte describes a number of possible outcomes for the workplace. One of the most striking was the effect that increasing automation will have on the populace and their work behaviour. They ask the question of whether more technology and greater automation will destroy jobs, or create them.
Let’s take the example of financial records. We have already seen some of this automation in the form of the everyday bookkeeping software and services that your business will utilise. While in the past, bookkeeping was recorded and audited through physical media, nowadays we have cloud computing and accounting software to help us cut through the process.
This has been of massive help for SMEs, particularly those who are time-poor such as medical startups and businesses. Whereas before you would have had to spend hours every week balancing your books, you’ll likely have found that you’ve been able to reduce this workload through the use of this software, whether by yourself or through a professional. This kind of technological advance gives you more time to focus on the everyday running and practice of your business.
The necessity of the bleeding edge
However, what should be of concern is keeping up with the training of your bookkeeping staff. A Deloitte survey found that 47 per cent of new staff (less than five years’ experience) believed they would need new skills to keep up with their profession – you can bet your bookkeeper is among them.
Thankfully, technology-forward companies such as DBS Accountants offer training in the latest accounting and bookkeeping software. This bleeding edge knowledge and technology will be integral to keeping your business on the forefront of finance.
If you think it’s time for a preemptive technological strike, get into contact with the Bankstown-based team today and find out how we can help you keep your business and your team up to date with the modern world.