Four Signs the Uberization of Accounting Has Already Begun

How disruption is creating a “No-Choice Future” for some firms.

By Hitendra Patil

The dictionary defines “uber” as a superlative example of its kind or class. The word Uber, derived from German language, means “over” or “beyond”.

You may have heard of the Uberization of the taxi cab hiring industry, or of room rentals via AirBnB, and other such services. That was made possible because of phenomenal leaps in Internet and mobile device technologies.

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The companies, using new but still well-established technologies, are simply focusing on existing industries, simplifying them, and creating a faster, better, stronger, convenient and, more often than not, cheaper process.

Accounting’s fundamental business model has not changed in more than 100 years. And this very fact makes accounting indeed a perfect candidate for Uberization. Albeit, with some caveats. In fact, the stealth-Uberization of accounting is already happening in at least four ways: