Explosive Computers to Smartphones: Accounting Technology
In the past, I've spoken about my early days as an accountant in the year 2000. Back then, we did have computers, but they were nothing like what we have today.
These machines were enormous, slow, and had a propensity for unexpected malfunctions. One Friday morning, a colleague's computer that had been running continuously for most of the week suddenly exploded.
I was at my desk around 7:30 am, armed with a cup of coffee and a slice of carrot cake (my preferred breakfast at the time), when I heard a loud "BANG" from the adjacent workstation. Smoke began to billow out from the back of the computer.
I quickly dialed the IT department, aware that the IT Manager would be at his desk, alternating between playing Spider Solitaire and checking the EPL scores for his favorite team, Everton.
"Yes Kane, what is it?"
"I believe Zac's computer might be on fire"
"What makes you say that?"
"There was a significant pop, and now there's smoke coming out of it"
"Oh" Click — he hung up the phone.
Fortunately, the Moore Stephens offices didn't burn down that day. However, the incident serves as a stark reminder of how far technology has come in the last two decades. Technological advancements have revolutionized businesses in general and the accounting industry in particular.
Previously, I carried around a laptop as bulky as the Encyclopedia Britannica, much to the amusement of my tech-savvy clients, Paul Beardsell and James Noble. These days, I manage everything from my iPhone.
Yes, accountants, you read that right. Before I sold my accountancy firm a few years ago, I could run all its operations from my iPhone or iPad (to spare my eyes). I still manage my outsourcing business in the same way, only needing a computer for specific tasks like reviewing some files from my SMSF outsourcing team
The takeaway is that it's never been simpler for accountants and businesses to utilize technology to enhance their operations. The incorporation of sophisticated tools and systems has simplified tasks that were formerly time-consuming and prone to errors. Automation and digitization have eliminated repetitive tasks, freeing up precious time for innovation and strategic thinking.
And, thankfully, the likelihood of technology blowing up on a Friday morning has drastically reduced.
I'm Kane Munro. If there's anything else you want to know about my journey in accountancy, feel free to DM or email me, or leave a comment wherever you're reading this. You can learn more about my experience in accountancy, outsourcing, and what I do at www.activeoutsourcing.com.au.