Can automating accounting and bookkeeping work for your business?

The Wall Street Journal reported today that “Firms Leave the Bean counting to the Robots”.

Roberta spends her days in this energy company’s treasury department searching for missing payment information and sending out reminders.

Roberta does not have a last name, a face or arms. She is a piece of robotic software to work in the company’s treasury department, part of a push toward automation, robotics and artificial intelligence.

These new technologies are designed to cut costs, liberate employees from time-consuming, repetitive tasks and reducing accounting and finance employee numbers.

Forecasting business performance is another area where humans can be replaced by an algorithm.

Accounting departments are seeing results from increased sophistication of robotics and automation tools.

The first step is to get rid of repetitive tasks that are not adding value.

A French information-technology firm is planning to hand over its reporting tasks…….for example, collecting and assembling data for monthly and quarterly reports, as well as calculating results …..to robots.

Because of robotization, finance jobs will evolve quickly. How quickly, no one really knows.

You can expect to have less people in charge of extremely basic functions, perhaps freeing up resources that you can invest in other areas of your business.

At John L Mottram CPA LLC, we have access to a wide range of accounting and bookkeeping software and tools that will automate many of your repetitive functions and reduce your labor and outsourcing costs between 30% and 35%. Call or email John L Mottram at 214-543-1855 or jlm@mottramcpas.com  or go to our website www.mottramcpas.com and learn more identifying repetitive tasks that can be automated.