What is the impact of digitalization on the outsourcing of accounting services

Abstract

This research examines the effects of the digitalization on the outsourcing of accounting services. Due to the rapid development of technology, all accountants have to cope with a new way of working if they want to keep up with their competitors. But these inventions can be of great use to them to work at a higher pace and to avoid mistakes when doing the books of one of their clients. This new software has simplified the way of doing the accounts and many companies are starting to notice it too. They are therefore beginning to perform several tasks themselves and only ask for help of an accounting company for the more difficult activities. Hence the job of the accountant is not disappearing at the moment, it is just going through a major evolution and will still be required. Besides accountants, there is another set of people impacted by the digitalization in this research: the software developers. The demand of their clients has shifted and they needed to adapt to keep their current clients or attract new ones. This means the developers need to implement the latest inventions in the field of digitalization into their software.