John Savignano, The Role of Technology in Accounting

Accounting refers to the body of knowledge and skills of the financial account. It is a subject that is the foundation of management and governance, in which numbers are derived from understanding how things work. For example, in accounting, calculation represents a large part of the profession; accounts are required to be prepared and managed properly.

John Savignano is the CEO of Bottom Line Consulting in New York. He has a wide experience in accounting and also embrace the viability of technology in accounting. Savignano values the input of humanity in a technology driven world due to their continued relevance and their ability to adapt to new trends and technologies. The following are three key impacts of technology in accounting.

1. Automation

Savignano values the automation via technology because it helps the accountants eliminate errors. These errors lead to lower quality of information from which managers make decisions; the standardization and automation of this process will lead to a more stable and accurate data. However, the use of technology is not limited to just automation. Technology may be used for analytical purposes, for example, in analyzing the data by using algorithms.

2. Post-audits and Predictive Analytics

Savignano values the use of technology in post-audits and predictive analytics because it gives a more accurate and up to date picture of actual performance than traditional systems. Accountants delegate more authority over account review with automated systems that can provide results without human interpretation.

3. Information Dissemination

John Savignano values the dissemination of information because it has become a new part of accounting profession, where financial markets can be affected by the statements of well performing companies. The accurate explanation of data and the efficiency of the accounting professionals are essential in delivering clear information to the market.

Savignano value the human element in accounting due to their continued relevance and ability to adapt to new trends and technology. In modern world, management can make more use of technology as its role does not end with just calculation, but also includes analysis and dissemination of information. Read more: https://www.bbntimes.com/companies/john-savignano-values-the-human-element-in-accounting-success