5 types of digital tools accountants need to understand now

In many ways, the pandemic massively accelerated changes that were already occurring in terms of technological advancements in the workplace.

Digital tools and skills in accountancy were already necessary, but now they are critical to meet client expectations, stay competitive and be able to make contributions to the industry and broader community.

It’s about attitude as well as practical skills

When we talk about levelling up your digital knowledge, the advantage comes not only from the new things you will now know how to do but also because you are committing to adopting a mindset of continuous learning. You are taking on challenges, being adaptable and competitive in order to help future-proof yourself and your business.

5 tips for learning new digital tools

1.Everyone finds learning new things hard

You’re not too old or not “techy” enough to learn new things. Everyone finds different aspects tough to pick up, so work out how you learn best and commit to it.

2. Don’t wait for the next thing

Don’t think that you’ll wait for the next thing to come along to learn. Pick up something now as it will make learning the next thing easier.

3. Set time aside

Prioritise time for learning as you would your other work. Do it in small, manageable chunks.

4. Use it or lose it

The best way to get to grips with technology is to use it. To not expect to know how to do everything with it instantly, to work through those frustrations, try to enjoy the process and feel proud of yourself for adding to your personal knowledge bank.

5. YouTube and Google are your friends

Often the secret to knowing how to do something is Googling it or watching a YouTube video. They are brilliant ways to learn. You know that person in the office who knows how to do everything? I bet they get a lot of help from Google.

5 types of digital tools accountants need to understand now

1. Accounting software

It goes without saying that using accounting software is almost non-negotiable these days. It speeds up processes, simplifies taxes, reduces the margin for error (and therefore offers protection for you in audits) and allows for a clear picture of the understanding of what’s happened in the business historically and for forecasting.

2. Automation tools

Understanding the different tasks that can be automated and putting them in place creates higher levels of efficiency and accuracy, reduces costs and will free more of your time up to focus on work that calls for critical thinking or creative flow. Examples of things that could be automated could be email responses, generating reports, scheduling appointments, client reminders and data back-up. 

3. Communication platforms

People like to communicate in lots of different ways these days. Of course, it’s up to you if you let your clients Whatsapp you or jump on a quick Zoom call but understanding the different tools for communicating with customers, colleagues, and peers is vital.

Whether that be an email service provider for your marketing newsletter, joining an industry-focused community in a Slack group or Zoom for meetings, webinars and workshops.

4. Social media networks

You might not quite be making your own videos for TikTok yet, but figuring out what the main channels are, how people use them and why they are popular can help you keep your finger on the pulse and to spot trends. If you are using social media for your business, best to focus on one channel your target audience uses. Master the etiquette, updates, how to create good content, and grow your audience on that network rather than spreading yourself too thin. 

5. Website analytics

As a finance professional, you will be used to performing analysis and asking questions of financial data, so it makes sense to apply those skills to other areas of the business, like looking at website analytics. Look for patterns and trends in website traffic and sales, which you can use to make business decisions to boost profit or increase revenue streams.

Further reading

• 3 skills you will need for a future in accounting – AAT Comment
• Are businesses accelerating transformation in the finance team? – AAT Comment
• Why digital skills are career-critical for everyone, from the CFO down – AAT Comment

Sophie Cross is the Editor of Freelancer Magazine and a freelance writer and marketer at Thoughtfully.