Technology

I am really excited about the use of AI, bots and other technologies that streamline the accounting process. These tools are useful for any rules-based, repetitive function. It’s pretty amazing how far Robotic Process Automation (RPA) and Artificial Intelligence (AI) have come.

While all this is cool, even awesome, what really excites me is that it clarifies the real value of human interaction that technology cannot replicate.

People

As long as clients, colleagues and referral sources are human, there will be a need for personal and interpersonal skills. Professionals who are only efficient with repetitive work will find their value diminishing, while those who know how to interact, resolve and negotiate will be the stars.

Example

Here’s a great example. I remember when a partner stopped by my office on his way out. He looked despondent. I asked him what was going on. He said he was on his way to a client’s office to inform the owner and her husband that they were broke and had very few options to endure the downturn. He went on to say that, over the last couple of years, he advised them that this day would come if they didn’t make some adjustments. And lo and behold, that day had arrived.

He lamented the discussion he was going to have with them. There would be tears, panic and fear, none of which his accounting education had prepared him. Fortunately, he stepped into the role that clients desire from their professionals, and he showed up. Effectively. While his client was distressed, he assured her that he would be with her to get out of the sinkhole. That’s invaluable. That’s professionalism at its best.

Humans interacting with humans will never be replaced by technology. If you are a firm leader, how are you equipping your professionals with the skills they need? If you are a professional in a firm, are you taking advantage of the programs that prepare you for the human situations that you will encounter? With these questions in mind, what is one skill you will you focus on the next few months to learn, develop or improve, that you can blend your professional skills and technology?