cogs of varying sizes hovering over a hand

The business case for digital transformation: Key trends your organization should know

Disruptive technologies, societal and economic changes, a growing skills gap, and increasing global competition all point to the importance of digital transformation. Amidst all the change, new opportunities exist for CPAs and their organizations.

The modern era reveals organizations are speedily embracing digital transformation. The COVID-19 pandemic only hastened the digitization process; for many organizations it has become a lifeline for survival.

For CPAs, digitization can seem like a double-edged sword.

There is growing consensus that about 50 per cent of current jobs are likely to sustain significant changes or disappear altogether in the coming decade. For the accounting profession specifically, automation will undoubtedly have a dramatic impact on some traditional roles for CPAs, but conversely, the digital economy also presents opportunity.

By expanding on current skills and knowledge in managing financial systems and controls, CPAs are positioned to become champions for a balanced approach to digital transformation efforts. This can include maintaining organizational resilience and performing proper controls to ensure that automation, AI, and machine learning are performing as they should. It could also include injecting trust and ethics into the digital transformation process.

Read this publication to learn more about how CPAs add value in this quickly evolving landscape.