Thanks to technological innovations, accountants can save time to conduct more accurate analyses.
In 2023, the number of accountants in Mexico increased by 12%, adding 564,000 professionals in this field, according to detailed data from the National Institute of Statistics and Geography (INEGI). These professionals are crucial to ensuring the integrity and accuracy of financial records.
However, due to technological changes, the way professionals in this field work has evolved. Their activities now extend beyond report generation and compliance with tax regulations to include analyses that improve efficiency, reduce costs, and increase profits for businesses.
Thanks to cloud technology, 77.8% of small and medium-sized enterprises have automated their accounting activities in the cloud, according to the Bank of Mexico (Banxico). While some may think that these technological models could diminish the role of accountants, this is not the case. In reality, innovations have only streamlined certain tasks to make them more efficient, enabling deeper and more precise analyses without errors and with real-time access to information.
Accountants remain indispensable despite technological advancements in accounting.
Intelligent or technological accounting has revolutionized the profession in the country. These systems help identify patterns, predict trends, and detect anomalies in financial data with precision and speed. This enables accountants to anticipate problems and take corrective actions.
A cloud platform allows for quick and informed decision-making, as accountants can access information anytime and from anywhere, according to their clients' needs. Technology does not replace the work of accountants but rather supports it.
With technology, accountants enhance their ability to deliver deeper strategic analyses. They are essential pillars that not only record the financial history of a company but also guide it toward a more innovative, prosperous, and profitable future.
Three keys to electronic accounting in Mexico:
1. Digitization and automation of accounting processes: This eliminates manual and error-prone tasks.
2. Electronic invoicing and tax compliance: Since its introduction in 2004, more than 10 million Mexican taxpayers issue tax documents, equating to 327 invoices per second. This ensures these companies comply with applicable tax regulations.
3. Access to real-time information and data analytics: For accountants, data is crucial for making informed decisions. Using customizable reports, they gain a comprehensive real-time overview of the company's financial status.
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