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Will Technology Ruin Bookkeeping?

By August 26, 2013 No Comments

We recently had a conversation we with a friend about AcuityComplete being a modern approach to performing the age-old bookkeeping function…to which this person responded, “So you’ve entirely automated bookkeeping?” Said with a tone that evoked fear of technology ruining perfectly good, old-school paper-based, human-driven bookkeeping.

It brought to mind a post from Seth Godin entitled Now it’s Ruined in which Godin lists all the things that presumably been ruined by technology. Things like writing, photography, video…all wrecked.

He is, of course, being more than a bit sardonic. (Read his blog post here.) Quick spoiler alert – he concludes that technology makes the old school obsolete, and replaces them with new beginnings in the form of more efficient versions.

This conclusion is uber-relevant to how we approach bookkeeping. All functions within a business are made up of three components: people, processes, and systems. Technology won’t change that fundamental element of accounting. We answered his concern with this:

AcuityComplete Virtual Bookkeeping Diagram

Once he saw the diagram, he instantly understood.

The bookkeeping function is often performed the same way it has been for hundreds of years… manually. This industry has been slow to embrace change. Bookkeeping is mostly data-entry. Certainly, people can do data-entry. But when secure, automated systems and well-honed processes are brought into the task mix, they consistently outperform people.

AcuityComplete does not eliminate the human element. What we have done is dramatically alter the traditional bookkeeping function by leveraging technology systems and processes to improve the accuracy and consistency of the accounting process – at a much-reduced price.

Time and cost savings, accuracy and security. Ruin? No, indeed.

Does this approach make sense to you? Do you think we’ll ever be able to eliminate the human element in the accounting function?