Artificial intelligence (AI) advancements are undoubtedly defining the biggest changes for accounting and bookkeeping in 2024. Just check out the recent article on online retailers are using AI to market their e-commerce store. 

Businesses of all sizes are looking to modernize, and strategically hire, to fill gaps. AI is a huge help on these fronts by automating much of the mundane, repetitive work bookkeepers and accountants do. However, AI also requires firms to take an intentional approach to data privacy and security. With the increase in AI and technological solutions, the Certum Solutions team sees three significant trends developing this year: adding strategic value, creating a balanced work culture, and ensuring secure financial data. 

1.Adding Strategic Value for Our Clients 

AI-powered tools are already helping to streamline processes, reduce errors, and free up our time for more strategic activities, such as advising you on how to grow your business or interpreting financial data. 

It’s a great opportunity for us to help you with your financial goals. For example, 42% of entrepreneurs say increasing revenue is their No. 1 business goal this year, according to new research from Intuit QuickBooks. With AI integrations helping with tasks such as data entry and invoice processing, we’ll have more time available to spend on planning and advising for our clients. AI even powers financial analysis and data analytics; business intelligence tools can identify trends and derive insights from financial data to help you make savvy recommendations. 

2. Creating a More Balanced Work Culture 

Technological advancements are enabling a more flexible and wellness-focused work culture. Adopting cloud-based and AI-supported technologies is key for creating the work-life balance younger generations demand as they enter the workplace. Flexible hours, the ability to work from anywhere, and a focus on mental health are in-demand requirements from the workforce.  

Flexibility and balance are key to fighting the burnout and low morale that many firms and accountants have been experiencing, too. Grind culture is out in 2024. Cloud-based technology stacks means we can work from anywhere—with clients based all over the country. AI tools and platforms help bookkeepers and accountants work smarter and save time. 

Clients can smooth the process further by using AI-powered tools in their accounting software. For example, the 2024 launch of Intuit Assist for QuickBooks means that business clients will be getting help from AI year-round. With more organized and better-informed clients, interactions can take less prep time upfront for you and be more meaningful in the moment. Saving time and doing fulfilling work keeps employees engaged, encourages talented workers to our firm, and creates the balance that the 2024 workforce is seeking.  

3. Ensuring Financial Data is Secure 

Most AI changes mean good things, such as more automations to help our team get more done. But AI is a tool for hackers and online criminals as well, bringing data security to the forefront in 2024. 

The most important step to keeping your data safe is ensuring our team leans on best practices; these also carry over to your own business for security protocols: 

• Recognizing and reporting phishing attempts. Don’t click on links or attachments in emails from senders that you don’t know or trust. 

• Keeping software updated. New versions of software often include fixes or patches to shore up holes in coding that hackers could take advantage of.  

• Using multi-factor authentication. Requiring more ways to validate that it’s really you logging in to sensitive accounts helps protect them. 

• Requiring strong passwords. Password managers can help generate and store unique, strong passwords for login credentials. 

Cloud platforms often provide enhanced security measures to protect sensitive financial information. Virtual private networks can offer another layer of protection against bad actors.  

Be Part of 2024’s Big Trends 

The 2024 bookkeeping and accounting trends that Certum Solutions is seeing are part of a longer-term trend toward adopting new technology to make our jobs easier and to meet client expectations. We’d love to talk with you about the ways you’re moving your company into the future, or to help you integrate these new technologies into your business. It might feel like a scary leap, but we’re sure you’ll love the benefits, including more time, meaningful work, and higher pay. Use our automated booking software to put some time on our calendars to talk technology!