Marrying machines to humanity International Accounting Bulletin The Digital Accountancy Forum 2018 London 4 October 2018
Mark Edmondson, ACA President & CEO, Inflo Brainchild of Inflo Subject matter expert in accounting & advanced technologies
1 2 3 4 Automation of services in accounting and the effect on the business With the rise of automation of processes in auditing, what roles and responsibilities might be threatened and could become redundant? Changes of skills to deal with innovation and the correlation between human skills and technology Role of auditor and accountant in the age of automation
Innovation progressions
Innovation progressions I have never said you are not good at what you do Its just that what you do is not worth doing - Sheldon Cooper
Innovation progressions Automation Intelligence Augmentation Perfect combination of intelligent machines & intelligent humans Data Analytics, ML & AI Process Automation Current State Use of more sophisticated techniques to enhance outputs Use of Robotic Process Automation on client data to replicate outputs Manual Effort
Automation of services
Digital Collaboration Automation of services
Automation of services Digital Collaboration
Automation of services Data Ingestion Digital Collaboration
Automation of services Data Ingestion Digital Collaboration
Automation of services Data Analytics Data Ingestion Digital Collaboration
Automation of services Data Analytics Data Ingestion Digital Collaboration
Automation of services Emerging Technologies Data Analytics Data Ingestion Digital Collaboration
Automation of services Emerging Technologies Data Analytics Data Ingestion Digital Collaboration
Automation of services Emerging Technologies Data Analytics Data Ingestion Digital Collaboration
Automation of services The iterative barriers Inconsistency Automation Standardization
With the rise of automation... what happens to the pyramid model?
Automation in accounting Shifting the leverage model Centralised
Automation in accounting Engagement Team
Automation in accounting Engagement Team Partner
Automation in accounting Internal Tools / Applications Engagement Team Partner
Automation in accounting Internal Tools / Applications Engagement Team Subject Matter Experts Partner
Automation in accounting Internal Tools / Applications Engagement Team Shared Service Center Subject Matter Experts Partner
Automation in accounting Internal Tools / Applications Engagement Team Third Party Resources Shared Service Center Subject Matter Experts Partner
Automation in accounting Internal Tools / Applications Engagement Team Third Party Resources Shared Service Center Subject Matter Experts Partner
Automation in accounting Internal Tools / Applications Engagement Team Third Party Resources Shared Service Center Subject Matter Experts Partner
Automation in accounting Partner Shared Service Center Internal Tools/Applications Engagement Team Subject Matter Experts Third Party Resources
Automation in accounting Partner Shared Service Center Internal Tools/Applications Engagement Team Subject Matter Experts Third Party Resources
Automation in accounting Partner Shared Service Center Internal Tools/Applications Engagement Team Subject Matter Experts Third Party Resources
Automation in accounting Core activities being replaced Partner Recommendation and insights Shared Service Center First review Internal Tools/Applications Documentation Engagement Team Subject Matter Experts Research Third Party Resources Data extraction / entry
Innovation driving industrialisation is key
Changes of skills Analytical and critical thinking Problem solving Inductive vs. deduction reasoning Tech driven Advisory and consulting Interpretation and translation Data driven decision making Commercial mindset
Role of auditor and accountant in the age of automation
Role of an auditor Data gathering and preparation Interpreting & adding context
Mark Edmondson, ACA President & CEO, Inflo mark.edmondson@inflosoftware.com Stop by our website for videos, thought leadership and more www.inflosoftware.com