Home » 2017 » October

Monthly Archives: October 2017

Advertisements

Mini-series Part 3: Digitalization and the accountant

In the first two parts of this mini-series, I discussed the definitions of (Part 1) and role of AIS (Part 2) in digitization and digitalization. In this third part, I would like to highlight the development of the role of the accountant in this regard. Digitalization is both boon and bane of the future accountant – on one hand, it helps further the minimizing of his/her involvement in the nitty-gritty daily grind, the “bean-counting” the end of which has long been heralded by the automation of accounting processes. On the other hand, though, it raises questions about the legitimacy of the role – in other words, are accountants still needed? It seems an inevitable development that more digitalization means less and less accountants are needed to perform the same tasks, both in scope and quality. In this highly interesting article published by the WHU in Vallendar/Germany, the authors highlight eight challenges that current and future (management) accountants might face when confronted with the digitalization trend. The video below helps as an executive summary of the article, but I highly recommend to have a good read – you will learn that the digitalization trend does not have to automatically mean the end of the (management) accountant – if they get proactive with the technology and concepts involved.

Advertisements