6March 2020Copyright © 2020 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorSarah DawsonEditorial StaffAaron Pierce Ava Garcia Ashik JainJoshua ParkerVisualizerAsher BlakeSales*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditor's NoteSarah DawsonManaging Editoreditor@cfotechoutlook.comChanging the Way Accounting WorksAndrew Smith andrew@cfotechoutlook.com For long, accounting has been viewed as a solitary entity within an organization, where finances are poured into a specific department and accountants are expected to work with the numbers. However, with different departments in an organization working together, this perception has become a thing of the past. While accounting in any business had been all about providing accurate, relevant, and valuable financial information for informed decision-making and desired growth, the segment is visualizing more than just numbers. Organizations today expect a holistic view of their finances and the factor affecting them, with more data and consequent actionable insights. Change has already arrived. Now it's a matter of embracing it and becoming technology-driven, which is essential for growth, finance firms also need to adopt the latest accounting solutions, especially the firms that often reshape their business model and processes.When it comes to adopting the latest accounting solutions and rethinking business model and processes, automation is at the forefront, transforming the way the accounting industry works. With automation, organizations are reaching new levels of efficiency and accuracy by eliminating manual accounting practices. This highly commendable level of efficiency is reflected in the completion of a variety of accounting tasks on time. The latest accounting solutions have enabled organizations to minimize data entry, leading to efficient utilization of capital and better management of resources. With the assistance of accounting solutions, organizations are focusing on integration, visibility and collaboration to eliminate errors that go unnoticed. This also allows a comprehensive view of business performance as a whole. Besides automation, organizations are also embracing cloud computing for making their accounting operations faster and more secure. The concept of using shared resources, including accounting software that runs on the providers' servers and being able to access financial information in the cloud, has made accounting information more accessible and the process more efficient. The adoption of technologically-driven solutions in the accounting industry will intensify in the coming years. As the demand for computerized accounting grows, accounting solution providers are keeping up with the technological advances to address this need with robust solutions. In this edition of CFO Tech Outlook, we bring to you some of the leading companies that have excelled through innovation in delivering the highest quality of accounting solutions. We hope the inspiring success stories of these providers benefit our readers who are in pursuit of ideal collaboration.Let us know your thoughts!Contact Us:Phone:510-565-7614Fax:510-894-8405Email:sales@cfotechoutlook.comeditor@cfotechoutlook.commarketing@cfotechoutlook.com March - 23 - 2020, Vol 06-04 Published by ValleyMedia, Inc. ISSN 2644-2841 To subscribe to CFO Tech OutlookVisit www.cfotechoutlook.com
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