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Top accounting trends to look forward to in 2022

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2022 has arrived, and we’re excited to see what might be happening this year in accounting. This is by no means an exhaustive list, but here’s a quick overview of some things to look out for.

Increased presence of AI

Artificial Intelligence can allow Businesses and accountants to work with more clients at once by automating their processes. The World Economic Forum’s Future of Jobs Survey discovered that 50% of complex and technical activities are expected to be automated by 2025 (up 40% since 2020).

2022 holds further advances in software that will allow mundane, repetitive tasks to be completed with minimal human assistance. So from filing invoices, to scheduling meetings, the computer can take over for you, and let you get on with other tasks.

Upskilling

When it comes to technical accounting and knowledge the landscape is changing, due to the rise of technology and the emergence of data analytics. As mentioned before, many complex technical activities will become automated, so refocusing your skills may pay dividends. You may find that you need new skills over and above just technical and data management.

Soft skills are becoming increasingly important too, for example: problem solving, communication, and people skills. Adding as many skills to your CV as possible can only be a good thing for your employability.

Agile working

The past couple of years have been tough, but what it has shown is that we don’t have to be in a physical office to be productive. We predict that there will be an increase in agile working, or at least not the massive rush back into the office.

Working and studying flexibly means that businesses can hire the best, no matter where they are in the country, or even the world. It also means that busy work/life schedules are easier to manage, and staff feel trusted to get on with their work, or upskill, without having to be in one place for a set amount of time.

Rise in Blockchain

If you’ve not heard the term before, Blockchain is a digital ledger of transactions that are distributed across an entire network of computer systems. Each block on the chain contains a number of transactions that can be viewed and verified by everyone on the network. Whenever a new transaction is added to a block, every participant gets a record of that transaction.

It’s an incredibly transparent way of working, as there’s nowhere to hide. You can’t ignore an unpaid invoice when it’s sitting there for everyone to see. It’s also great for record keeping (essential for accountants) because records can’t be tampered with. And transactions can be verified by a number of people on the same blockchain.

And as an added bonus, Blockchain technologies are also really secure. Multiple verifications keep things in order, and each transaction is also recorded with a unique and unchangeable cryptographic signature.

Want a new challenge in 2022?

Keep up to speed with the latest changes in the sector. How about gaining new skills in Data Analytics? We have a range of new courses that will give your CV a boost.

Check out our Data Analytics courses for more information. Or if you’d like to learn about cybersecurity or new technologies then we’ve got you covered.