The Rise of Automated Accounting: Navigating the Digital Landscape

EasyChair Preprint 12113

Abstract

The advent of automation technology has brought significant changes to the accounting profession, revolutionizing traditional practices and processes. This paper explores the rise of automated accounting systems and their implications for accounting professionals and businesses in navigating the digital landscape. We begin by examining the evolution of automation in accounting, tracing its origins from the introduction of basic spreadsheet software to the emergence of sophisticated artificial intelligence (AI) and machine learning algorithms. We discuss the key features and capabilities of modern automated accounting systems, including data integration, real-time reporting, predictive analytics, and robotic process automation (RPA). Furthermore, we explore the benefits of automated accounting for businesses, including increased efficiency, accuracy, and compliance. By leveraging automation tools, organizations can enhance their financial processes, reduce costs, and gain insights for informed decision-making. We also discuss the importance of data security and privacy in the context of automated accounting systems, highlighting the need for robust cybersecurity measures.

Keyphrases: Accounting Technology, Automated accounting, Digital Transformation

@booklet{EasyChair:12113,
  author    = {Selim Azaan and Jane Elsa},
  title     = {The Rise of Automated Accounting: Navigating the Digital Landscape},
  howpublished = {EasyChair Preprint 12113},
  year      = {EasyChair, 2024}}