IMA Moments

Technology and Management Accounting: What Next?

By IMA Leadership
October 17, 2018
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There’s no doubt that technology plays a large role in today’s business environment, and over the years it has impacted how management accountants perform their day-to-day jobs.

 

Moving from paper trails and manual processes to electronic documents and automated services makes the job easier, but what does the future hold for management accountants using technology? Here is what some of IMA’s top thought leaders think.

 

Raef Lawson, Ph.D., CMA, CSCA, CPA, CFA, CAE, IMA vice president of research and professor-in-residence, says:

“While technology has not significantly impacted my job, it certainly is impacting the management accounting profession. New technologies are automating routine and repetitive tasks and processes, resulting in the elimination of lower value-added management accounting positions. To remain relevant as professionals, management accountants must move up the value chain, enhance their competencies in the area of technology and analytics, and embrace their role as strategic business partners.”

 

Dennis Whitney, CMA, CFM, CAE, senior vice president of certification, exams, and content integration at IMA, says:

“The future of technology means the management accountant will be freed from the shackles of routine recordkeeping, auditing, and cost accounting and will be able to focus more on the business partner role of value creation. The future means the opportunity to do more interesting and rewarding work, analyzing, planning, and strategizing.”


How are you using technology to your advantage? How do you see the future of management accounting in the context of technology? What technology must be developed to push the profession forward?


Further Reading:

How to Master Digital Age Competencies

Adapting for Digital Survival



Members of the IMA team include: Jeff Thomson, CMA, CSCA, CAE, IMA president and CEO; Doreen Remmen, CMA, CSCA, CAE, senior vice president of operations and CFO; Dennis Whitney, CMA, CFM, CAE, senior VP of certification, exams, and content integration at IMA; Raef Lawson, Ph.D., CMA, CSCA, CPA, CAE, IMA vice president of research and professor-in-residence; Debbie Warner, CPLP, CAE, IMA vice president of education and career services; and Linda Devonish-Mills, CMA, CPA, CAE, director of diversity and inclusion. Visit IMA at www.imanet.org.
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