Accounting And Finance In The Digital Age

Business

Technology has come a long way that even an accountant in Thailand recognize that this is the age when digitization might dominate the world of finances. With tech, we can now access all our financial information in just a few clicks. Accounting and finance is moving into new territories as little by little the digital era is conquering the sector.

There is the fear of the unknown for many in the working class because of the possibility that sooner or later machines will take over the jobs once required human intervention. In a way, accounting and finance is also put in the same spot as the Industrial Revolution 4.0 is coming

The truth is that, if all redundant and time-consuming acts are done by machines, accountants and financial professionals have more time in their hands to focus on tasks that are of higher level. These are tasks that require advance analysis as well as counselling for clients. With the introduction of digital transformation, a number of opportunities are now available in the field of accounting and finance.

Finance teams are now relying on digital technology such as machine learning, automation, adaptive intelligence and minibots to help them get the results at lightning speed. There are tasks that can be designated to AI and machine learning therefore the professional will become extra productive and their tasks are more proficiently done. They can cater to more clients compared to before and these clients get the value for their money.

Machines are able to do the job with accuracy but only humans can deliver the emotional intelligence required by the job. With the help of machines, daily operations are more efficient and the costs of processes are reduced.

There is no denying the truth that in the near future, automation will be introduced in every division of the financial industry therefore financial leaders who are accepting of this change will also gain more experience. The result is that an accountant in Thailand exposed to digital automation will be a valuable asset in businesses as they transform to digital processes.