Accounting is Digital: Breaking Down the Dramatic Shift

Digitalization continues to be a disruptive force for every industry and business function within the business territory. However, none experienced a more dramatic shift than the realm of finance, whether it be financial institutions within private sectors or a small accounting team in a startup company. The changes are so dramatic that even educational curriculums in academic establishments adjusted how accounting faculties teach young generations the basics of the field. The need for real-time, accurate, and secure financial information has necessitated a dramatic shift in how businesses handle accounting. And while we can say that digital transformation is happening everywhere, the accounting sector might be the only business function moving towards 100% digitalization and still thrive without a traditional counterpart.