Accounting is no different to the many other industries which exhibit a quickly evolving landscape. The emergence of digitalisation over the last few years has made it essential that those planning a career in accounting keep up with current practices and trends. There are also other trends which are shaped by the industry outlook and the economy. So in this blog, let’s look at some of the accounting trends in 2017 so far:
This is a trend which might well be welcomed by most accounting students at college in London, where living costs are high. According to research from Robert Half, salaries are set to see an increase of 3.7 percent this year. In an economy which has appeared to stagnate in recent times, this comes as positive news for those keen to take up a position in the sector.
Accounting in the Cloud
Like many other industries, accounting has been changed significantly by Cloud computing, with access to financial data now being possible from a larger number of devices. This trend looks to have brought down costs, while offering added convenience. Accounting graduates can give themselves a head start by ensuring that they are familiar with the main brands of software and their distinguishing features.
Better business opportunities
Hand in hand with the trend detailed above is what seems to be a wider spread of clients than ever before for accounting firms. This is down to the reduced influence of locality on the selection of accountants by organisations. Being local may not be seen as being as big a benefit as it once was, and firms with the best marketing strategies in place can grow their client base far and wide, all over the country.
The move to mobile
As the use of mobile devices such as tablets and smartphones grows so does the number of accounting exercises which can be undertaken on the move. From tracking timesheets to organising receipts and answering emails, with the right applications, it’s all now possible on a mobile device. These kinds of apps are sometimes integrated with existing Cloud software, providing an altogether more integrated experience.
Accounting trends which are the result of new technology look to be taking the limelight in 2017, and if these advents can raise the bar in a sector which relies on accuracy and efficiency, it will be no bad thing.