NEWS
Accountancy poised to undergo major Digital Transformation
Accountancy , both in industry and practice , looks to automation as a pathway to its future , according to a survey of accounting professionals by Moss , a new FinTech specialising in transforming the finance management of SME . More than half of respondents ( 57 %) predict that accountancy will become completely cloud-based or automated within the next few years as the sector embraces greater levels of innovation .
This shift can be considered a legacy of the pandemic , which forced industries and professions across the board to re-examine their use of digital tools and technologies to facilitate remote working . Two years on , accountancy – once largely analogue – is no longer looking to these tools for its survival , but its future . Almost three-quarters ( 74 %) of the accounting professionals surveyed deemed digital technology to be the most critical tool to understand in order to future proof their business . Indeed , 56 % state that motivating clients to digitise their processes and reduce their costs is the most pressing need for their practice .
Amid economic uncertainties , financial management skills and streamlining company spend has become a vital part of the finance function . A significant proportion ( 32 %) of respondents revealed that maintaining data accuracy throughout the spend management process was their biggest challenge .
Fortunately , spend management was the area anticipated to undergo the greatest technological change , with just under one-third ( 30 %) of respondents predicting it would become completely automated in the next five to 10 years .
People . ai unveils three enterprise revenue intelligence solutions
People . ai , the enterprise revenue intelligence leader , has announced the launch of its newest product capabilities , including Engagement Dashboards , Account Planning and People . ai for Oracle Sales Cloud to help sales and ops teams drive greater efficiency , deeper relationships and clearer visibility .
According to LinkedIn ’ s Global State of Sales 2022 report , sellers spend only 30 % of their time selling , making automatic activity data capturing essential for reps to do the most important part of their job . Also noted in the report , 81 % of sellers are losing deals from key contacts leaving client or prospect companies and 45 % say incomplete data is their biggest data challenge . More automation and visibility in the pipeline means salespeople can win more deals and generate more revenue .
“ The industry today has turned selling into an obstacle course , where reps need to navigate so many hurdles in order to do their job . We ’ re clearing the pathway so teams can focus on what matters : building revenue ,” said Oleg Rogynskyy , CEO of People . ai . “ Our newest product offerings aim to transform the B2B sales process by providing our customers with more data and greater insight to accelerate business decisions that will grow pipeline , increase deal sizes , shorten sales cycles and boost win rates .” �
12 www . intelligentfin . tech