This week we’re looking at RPA, Robotic Process Automation, which at first glance might seem to have nothing to do with Accounting and compliance. Ok, so let’s start with the humorous end. Announced recently, a man hacks Alexa by hooking it up to a singing fish robot, resulting in a very clever fish. For those not familiar with Alexa, Amazon’s …
Economy in Transition – Startups, innovation and a workforce for the future
The paper, Economy in Transition – Startups, innovation and a workforce for the future, was recently released by StartupAUS, the national start-up advocacy group. The discussion paper warns up to 4.6 million jobs may be at risk if Australia does not prepare its workforce for the digital future. The paper was produced with global networking firm LinkedIn and Sydney startups Expert360 and CodeCamp, and suggests few jobs …
CSIRO modelling and the impacts of offshoring and automation on Australian accountants
Last week we mentioned the CSIRO released a report on “Tomorrows digitally enabled workforce”. At 112 pages it’s certainly a detailed document, but it’s worth also looking at the Appendix on modelling. In “Modelling occupation changes in Australia”, the CSIRO identified 4 different work activities: Knowledge, Influencing people, Machines and Movement, Personal Services. In the first model, skills are noted …
Tomorrow’s Digitally Enabled Workforce
Earlier this year the CSIRO released a report on “Tomorrow’s Digitally Enabled Workforce”. Whilst this report is quite a read at 122 pages, this contains significant nuggets of information that give important offerings for accountants, and accounting firm owners. The move to the knowledge economy, offshoring and automation, and the new entrepreneurial freelancer models. As to why this report has …
Relax, a robot might not take 98% of your compliance work
There have been plenty of reports recently about jobs areas “at risk” due to computerization, commoditization and offshoring. A 2013 report on “the future of employment: How susceptible are jobs to computerization” talks about factors impacting work in the future including the surge in computing power, streamlining of tasks and offshoring. Certainly these issues are still relevant today. This report …
Cloud accounting and automation threatens compliance jobs. A lesson from Driverless cars
You’d probably have been in a secluded cave if you haven’t heard about the internet of things. However, we’re now on the edge of driverless cars, with many countries now having working cars available, but just needing regulations on how the vehicles will communicate on the roads. We’re now on the cusp of seeing some incredible things that we’ve only …
SOA Automation. Tools promising 80% time savings putting pressure on offshore Paraplanners
A non-institutionally owned financial planning and accounting dealer group has launched an automated Statement of Advice (SoA) tool it claims will cut the time it takes accountants to produce a range of advice documents by up to 80 per cent. The tool produces SOA’s in five key areas: stablishing a self-managed superannuation fund (SMSF); borrowing to invest in real estate under a Limited Recourse …
