One of the most traditional, conservative and cautious business sectors, the world of finance has also been swept up in the tsunami of the digital revolution. From emerging technologies like cryptocurrencies and non-fungible tokens (NFTs) to the more practical application of digital finance, the financial sector is embracing the vast opportunities offered by technology and navigating the risks and challenges that they can present. Here we an offer an introduction to some of these technologies that are accelerating change in the financial sector, with an emphasis on cloud accounting which is transforming the way SMEs manage their finance functions.
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Digital Accounting software helps you stay on top of your business finances by making it easier to record, store and analyse your data, while reducing the opportunity for human error. It can also help by automating administrative tasks, saving you time to focus on other areas of your business.
While there is quite a bit of cross-over between fintech and digital banking and the gap between the two is getting smaller, at their core, they are still different. Read on to understand how.
These three linked terms are often misunderstood by the layman. In this article PwC explains each and links to other articles that offer a deep dive on Bitcoin, cryptocurrencies and blockchain.
In this report, Deloitte predicts the future of Finance by answering several key questions: What would be possible if we combined different technologies to reimagine the future of Finance? How would the work of Finance get done and who would do it? How could Finance contribute even more to the success of the company? With these questions in mind, here’s the future they see.
All the way back in 2013, a study conducted by Oxford University and Deloitte stated that accountants have a 95% chance of losing their jobs to robots. Since then, the discussion of whether automation and AI will take over has become more nuanced and realistic, as explained in this more optimistic take by The Brookings Institute, which predicts that accounting, and other jobs that require higher levels of education, will be safe.