There’s no question that technology has changed the landscape of the accounting world. Advancements in digitization, automation, and mobility have allowed firms to transform the way they do business with benefits that reach far beyond enhancing traditional accounting functions. When comparing the challenges of firms that rely on technology and those that don’t, a clear pattern emerges: Technology gives firms a clear advantage.

You walk into a store A, looking for something to repair your kitchen sink. The sales associates are busy talking to each other, and you can’t get their attention. You spend 35 minutes exploring aisles. When you finally find it, you’re not sure it’s what you need and it costs more than you expected. But it will have to do.

A nonprofit has an auditor coming in tomorrow. The staff is nervous and has spent days pulling files, canceled checks and more paper documents for the on-site visit. They have many questions: What will the auditor want? Is this enough documentation? What happens if we can't find what they need? Once the auditor arrives, more time will be spent accommodating him or her and ensuring that all the needed information is in the right hands for review.