Technology and automation are revolutionizing every industry, and the accounting and finance industry is no different. Recent technological innovations have changed how businesses do invoices, manage receipts, enter data, and completely transformed the old ways of manual bookkeeping. With these technologies, now the accountants can also assist the business owners with financial difficulties, cash flows, and taxes.
One of most significant development in this space is the introduction of AI and machine learning. These two heralds of age of automation are showing no signs of stopping anytime soon. AI-based accounting software has already eased accountants and financial professionals’ workload by equipping them with intelligent tools to manage every accounting task. The professionals are relieved of their tiresome and time consuming manual tasks. AI helps analyze huge volumes of data and generate more accurate analytics in quick time and at a reduced cost.
Additionally, cloud-based accounting software is redefining the accountant’s flexibilities to work remotely and in real-time and continuously strive to automate routines like data entry, invoice and vendor management, bank reconciliation, payroll, and much more. This will eliminate human errors and save valuable time for business that can be invested on other fronts. Along with cloudbased technology and AI, data analytics’ impact on the accounting sector is also be huge, with the demand for data specialists already rocketeering. As data analytics helps identify operational inefficiencies and manage risks better, more businesses are investing in data analytics and help themselves with data-backed decision-making capabilities.
At this juncture, many cutting-edge accounting solution providers are entering the domain with advanced and integrated offerings. To help the accounting industry strengthen its operational capabilities and simultaneously enable growth in the industry, CFO Tech Outlook has compiled a list of the top accounting solution provider companies. The list comprises prominent organizations in the industry that address issues by implementing current trends. Besides, the magazine also includes insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs. We present to you CFO Tech Outlook’s, “Top 10 Accounting Solution Companies – 2021.”