Will Cloud Accounting Software Eliminate Jobs?
In a world where digital automation is becoming increasingly pervasive, the question of whether cloud accounting software will eliminate jobs is one that many small businesses are asking. It’s a question we can answer with a resounding yes and no — let us explain why.
Does artificial intelligence lead to job losses?
It’s a common misconception that automation leads to job losses. In fact, it’s the opposite: in the past, automation has led to more jobs and more work being done. Companies need human beings to manage and maintain the machines they use. For example, when computers were first introduced into companies’ back offices in the 1980s and 1990s, employees with little tech experience (like many small businesses) gained insight on how to do things like process invoices electronically instead of manually on paper forms. This made them much more efficient at their jobs!
With that said, some people still believe that AI will lead to mass unemployment; often referred to as “technological unemployment” or “robocalypse.” This kind of thinking dates back hundreds of years when Ned Ludd famously smashed two weaving machines because he believed they were taking away jobs from weavers (they weren’t). But even if you’re on board with this idea – so what? The truth is: technology doesn’t kill off jobs; it changes them into something else entirely!
How can cloud accounting eliminate jobs?
The cloud accounting system is designed to eliminate human intervention as much as possible in the daily operations of an organization. It does this by automating routine tasks, such as entering transactions or reconciling cash accounts, which can be done manually with traditional software. Cloud-based applications can do this because they rely on a centralized database that can be accessed anytime and anywhere via the internet.
All of these previously manual touchpoints are, technically, the loss of tasks for a human, taken over by AI.
Why do the benefits of the cloud outweigh job losses?
The cloud is not going away. It’s here to stay, and it will only continue to grow in popularity. The benefits of cloud accounting software are just too great for small or medium businesses to ignore:
- They’re cheaper. Cloud-based programs don’t cost much more than desktop versions, but they offer more features and functionality at the same price point. They’re accessible via the Internet (and therefore do not require any hardware), which eliminates the need for an expensive physical server that can be costly to maintain and upgrade over time.
- They’re more secure than traditional software because data stored on a server is protected by firewalls and other safeguards against unauthorized access or damage from hackers. This makes it easier for companies to comply with government regulations like HIPAA or GDPR without having to invest in expensive equipment upgrades every few years just so their systems remain compliant with changing laws surrounding data privacy issues.
So, are robots going to take our jobs?
No, they’re taking your manual tasks, but it also leads to higher-quality work.
There is no doubt that cloud accounting software will eliminate tasks, but it leads to higher quality and more fulfilling work, free of tedious, repetitive tasks.
The days of accountants painstakingly typing and retyping ledger entries are over. With cloud accounting software, every transaction is automatically matched up with its corresponding journal entry in real-time. This drastically reduces human error and saves time for everyone involved. It also allows accountants to spend more time on complex tasks that require their expertise — such as tax planning or analyzing client data — instead of mundane bookkeeping tasks that can be automated by computers or robots.
The cloud has made it possible for companies to decrease their costs and improve productivity. However, there are some downsides to using this type of software that we need to keep in mind. While artificial intelligence will not necessarily eliminate jobs, it may make some tasks redundant while creating new opportunities for others.
Talk to our team today to find out how you can reduce the amount of tedious manual tasks your team has to perform, how they can contribute to strategic goals, and how it can increase employee job satisfaction. You can get a free personalized demo with our experts, too!