The future of accountancy

Digitalisation

An evolution that Evy has witnessed first-hand. “Whereas we used to work in a paper-dominated environment, we now live in a digital world where virtually everything is available electronically. Digitalisation has, first and foremost, had a particularly significant impact on the organisation of accountancy. The systems and platforms we now work in are more closely integrated with the business, and through the accounting or ERP software we are connected to all our stakeholders.”

From a highly operational to an advisory role

The accountant’s role has also evolved significantly – or at least it should have… “We are no longer so much the people who process bank statements or enter invoices. The accounting role has transformed from a highly operational one to a supervisory and advisory one. Repetitive tasks are gradually disappearing, which is one of the benefits of automation. However, the nature of our work remains very much dependent on the company we work for.”

Automation

Not every company is at the same stage in its digital transformation, and consequently in the adoption of automation and its benefits. “There are firms that developed a digital archive as long as ten years ago but still aren’t using it. Purchase orders are sent by email, and they don’t make use of a comprehensive ERP package…”

As Finance Manager, Evy sees it as her duty to highlight this gap. “The benefits of automation are numerous. It gives accountants more free time to deliver real added value and fulfil their role as business partners. The role of the accountant is shifting from a fast-paced, operational task to a role centred on skilful analysis and the delivery of high-quality insights . And, given the ongoing transformation of organisations and the demands of all stakeholders, this role will become increasingly important.”

Evy herself is quite flexible in her approach to this future evolution. She regards her own role as a manager as a generalist one. “I want to have as broad a skill set as possible. Only when I’m deeply involved in operations and know the details do I feel comfortable. That doesn’t mean I have to know every tax provision or every tax update off by heart, but I do want to have a broad understanding of what it’s all about. That’s why it’s essential to keep learning, updating your skills and engaging in discussion throughout your career.”

Belgian taxation

What changes does Evy think are still on the horizon for accountants? “The tax aspect in Belgium will always remain very important. It changes every year, and as an accountant, you have to keep up to date with this constantly. I see a bright future for accountants who specialise in tax compliance, both in VAT and corporation tax. After all, businesses continue to grow and mergers are never far off. There is still a great deal to be gained from tax optimisation…”