Re-Learning the Lingo of the Accounting Business

New tech solutions require new thinking.

By Hitendra Patil
Pransform Inc.

It’s tough enough to keep up with the new technical developments in taxes and accounting, but practitioners are also grappling with a whole new vocabulary in technology.

If you’re not speaking the new lingo, you risk losing the millennials you work with and mystifying some of your clients and prospects.

For instance: In the distant past, you “bought” a “software license,” “received” a CD and then “installed” the software on your “desktop.” But now, you go to the “cloud” to “activate” your “subscriptions” to the “software as a service.”