Throughout the history and evolution of accounting—from tablet record keeping in ancient Mesopotamia to blockchain in the 21st century—technology has been a key enabler in addressing accounting challenges.
However, in our current age of digital transformation, small businesses owners and accountants may be slow to adopt accounting tools or new technology because of factors such as:
- Misconceptions that accounting tools are too expensive to implement and require great technical know-how.
- A lack of case studies to demonstrate the practical benefits of accounting tools, including improved cash flow, revenue, etc.
In fact, a recent survey indicates that fewer than half of the 300 small businesses surveyed are using accounting software.
Failure to strategically adopt the latest tech can lead to irregularities caused by manual entry and a general tendency to lag behind competitors that are early adopters.
To celebrate International Accounting Day, we here at GetApp have created an infographic that explores how accounting technology has evolved over the millennia to lead us to our current age of digital transformation.
In this infographic, we take a look at the history and evolution of accounting technology from ancient civilizations all the way to the potential use of quantum accounting in the not so distant future.
Read on to discover:
- How the latest in optical recognition tech is disrupting small business invoice management
- The ultimate guide to robotic process automation: How small businesses can save on accounting costs
- The future of accounting software (infographic)
- Compare accounting tools on GetApp’s Accounting Category Leaders