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Are Accountants Slow to Adopt Innovative Technologies?

Are Accountants Slow to Adopt Innovative Technologies?

With so much talk about the cloud in recent years, people on the outside of the accounting industry looking in might assume the cloud is the “new normal.” In fact, 57% of accountants surveyed by AccountantsWorld still use the desktop version of QuickBooks. Accountants as a whole are far from migrating to and embracing the cloud.

According to PaymentWeek, accountants not taking the cloud seriously will be out of a trade come 2020.

So what’s holding accountants back from embracing the sea change happening in tech?

Old habits die hard

For some accountants, migrating to a new platform seems inherently risky. Many accountants have spent years perfecting their current workflow, and the trauma of migrating data and modifying a brand new system seems nonsensical. “If it isn’t broke, don’t fix it” applies in these cases: why change something that seems to be working?

Another factor is fear. The cloud is new, and the idea of data being stored remotely raises a few flags for some. What if the data is unsecure? There is a perceived security blanket when the data is stored on-site on in-house servers, even though cloud systems are often more secure than traditional accounting software.

Resisting change is not the answer

The cloud is up and coming, whether or not everyone in the industry is on board. Those who resist the change and refuse to learn new ways of working will not survive in the industry. Competition against firms who are using the latest and greatest technology will be fierce, and eventually, insurmountable.

Additionally, implementation of the cloud brings many benefits to today’s accountants. Data entry is minimized, errors and data inaccuracy are less common, value is increased, and relationships are strengthened for clients. The cloud is the future.

What can FYIsoft do for you

There are growing pains with any new software product or data migration. FYIsoft has 8,500 users and counting, and the team is ready to help upgrade your software, process, and workflow.

FYIsoft’s easy-to-use cloud solutions simplify even the most complex financial reporting demands by automating manual processes and enabling users to get the right information to the right people.

FYIsoft solutions help users with financial reporting, management reporting, financial consolidation, close management and reconciliation, report distribution, and more.

To start reaping the positive benefits of cloud software, including improved data accuracy, security, 24/7 access, automation, and improved communication, contact FYIsoft for a demo today.

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