Industry Views

Facts about the accounting profession

October 23, 2017

The accounting industry isn't just about smart suits, calculators and Excel. It's one of the oldest and most diverse occupations and one which remains at the core of business and finance. Here are some fast facts about the profession.

It has a (very) long history   

Mathematician and mentor to Leonardo Da Vinci, Luca Pacioli, is considered to be the ‘grandfather of accounting’ having wrote the first book on double-entry bookkeeping in 1494. In this, Pacioli famously warned readers not to go to bed until the ‘debits equaled the credits.’ His description of Venetian merchants working in renaissance Italy remain an important part of accounting protocols today.

Long term prospects are good   

Membership of the accountancy associations continues to rise, with the seven bodies seeing an annual growth rate of 2.4%. Salary expectations for accountants are now in the top ten most lucrative across sectors and career satisfaction has never been higher. Cheers to that!  

Accountants are great employers   

There's a reason so many practices score highly on 'best places to work' lists. As well as a healthy take home salary and bonus, there's never a dull moment when working in a accounting firm and this makes for a challenging and satisfying working environment.

Being an accountant no longer means a job of never ending data entry  

Due to the development of document capture automation, more accountants are choosing to automate manual data entry in order to drive productivity, cut costs and improve employee engagement. And considering the ROI which can be gained from using the right automated solution, we’re not surprised it’s a growing trend. Here’s what one of our customers had to say about working with us:   

“Before AutoEntry, we had over a 100 people spending hours each week to manually upload data for our bookkeeping clients, which was an impractical use of resource in the long term. Since implementing the solution, we’ve driven productivity by almost 90% when processing bookkeeping data entry - an incredible time saving which we can reinvest into the business.” Toby Woodhead, solution architect at Armstrong Watson

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Have a fact to add? Contact us to let us know - or to discuss how your firm can achieve more by automating manual data entry.