Important Accounting Trends For 2019

Important Accounting Trends For 2019

As the new year is around the corner, new trends will surely emerge. In the accounting sector, technology is becoming increasingly involved, mainly as a means to increase the overall operational efficiency in business. Are are wondering which accounting trends will leave the biggest mark in the year 2019? here are a few trends that will surely make waves.

Cloud computing system and storage is becoming more widely used by old and new accounting firms. Not only do cloud Accounting promote mobility, ensuring remote work is easily and managed properly, but it also provide loads of other benefits.

Many of today’s leading cloud Accounting solutions offer improved security, quality control and data recovery options that may not be accessable. In addition, the cost savings is often notable, especially when compared to adding, managing or maintaining internal servers with the same level of accessibility.

Accounting firms are increasingly focused on security due to breaches regularly making headlines. The Accounting industry handles incredibly sensitive data, that is why they are prime targets for an attack.

Small firms are going to concentrate seriously on security improvement as they are often seen as the easier targets by cybercriminals thanks to traditionally lower security thresholds. Since the threats against the accounting industry is increasingly becoming more sophisticated, rising to the challenge is a must.

While most accounting firms already use firewalls and antivirus as security measures, Adopting a stronger options will become increasingly common. This includes additional employee training, increased augmented protocols and more advanced systems that can identify and anticipate risks, even if they are yet to be exploited.

Many companies use video to promote their brand and services, but many accounting firms are unsure on how to make video marketing apply to the field. Studies show that visual continues to be one of the fastest growing advertising and marketing trends for businesses, which include accounting and tax firms.

Market research also supports that customers are choosing video marketing over written content, making them highly popular for promoting a brand or service. They also highly ranked on search engines. Videos are an ideal source of content For accounting companies struggling to boost their presence on social media.

Many tasks in accounting are very tedious and repetitive. Additionally, they require a high degree of accuracy, and a simple human error can be disastrous. In response to this, more firms are accepting automation as a means of making regular tasks easier to manage. 

Anything from transaction synching to invoicing to expense categorizing are targets for automation, allowing companies to handle these functions more efficiently and accurately. Futhermore, companies will employ automation so as to re-task their employees with duties which are actually meant to be performed mainly by humans. There will be more time for customer interactions, creative thinking, and innovation, all of which can improve profitability and productivity.

Inconclusion, all of these trends will have a major impact on the accounting sector in 2019 and maybe for years to come. By ensuring they remain on your radar, you will empower your business to stay ahead of the competition, which will ensure you thrive into the new year and beyond.
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