Collaboration used to mean taking turns on one copy and saving it in a local server at the office. The introduction of cloud servers made things even better, getting rid of a common spreadsheet issue–reliability. In fact, 80% of accounting executives believe that AI leads to a competitive advantage. As automation and advanced intelligence marches on, accountants all over are excited over the prospect of more developments in the field. Accounting software has come a long way, as automation made complex tasks easier, and collaboration among co-workers increased. Modern needs require modern solutions beyond the spreadsheet. Horror stories abound where major companies had to deal with errors in the millions or billions of dollars caused by an incorrect entry or a faulty computation. However, spreadsheets, over time, became unreliable, prone to user error, version problems, and data corruption. The introduction of spreadsheet software revolutionized the practice of accounting, turning a once manual task into an automated, programmable function.
