With online courses becoming the norm, students can access resources from all over the world. Additionally, leveraging new tech allows learners to connect with alums and industry experts from their home countries.
Though some feared the advent of automation would spell the end for accounting professionals, this trend has made them more valuable. Process automation frees up accountants’ time by handling tasks like data entry, AP/AR, and client communications.
Convenience
As technology continues to evolve, consumers increasingly demand convenience. This is seen in direct-to-consumer sites, e-commerce, home delivery, and cashless restaurants.
Accountants and accounting firms respond to this consumer need by leveraging new technologies. This includes automation, data analytics, and advanced accounting software. This frees accountants to focus on more strategic work.
Moreover, technology can eliminate the tedious and repetitive tasks that suck up accountants’ time. This trend is also helping to reduce errors, which are often the result of manual processes. Lastly, it allows for better communication, as accounting can leverage big data to make numbers tell stories that help clients understand trends and insights. This improves client satisfaction and helps to strengthen a business’s competitive footing. This all translates to a more efficient workforce and reduced costs.
Flexibility
In addition to allowing students to study at their own pace, an online MBA in Accounting often offers flexibility regarding the location and mode of learning. Working professionals who wish to complete their degrees without combining their full-time employment with additional schooling may find this especially helpful.
Business flexibility can be seen in the way a company responds to market shifts, whether that means changing how a product is made, reimagining workspaces (one example: turning an extra-large utility closet into a lactation space for a female team leader), or finding new ways to deliver a service. Companies with a flexible approach tend to outperform their competitors in the long run.
Typically, smaller organizations are more flexible than larger ones. However, even large companies can find ways to make their operations more flexible. Flexibility requires an organizational structure that values change, a culture that embraces it, and capital invested in making those changes.
Time-Saving
Online MBA programs can be less expensive than traditional degrees. They also offer the convenience of eliminating commutes and allowing students to continue working full-time.
One of the main challenges of an online MBA is a lack of face-to-face interaction that can foster spontaneous discussions and facilitate networking in a physical classroom setting. However, many online MBA programs feature virtual group projects and discussion forums and offer in-person residencies to allow students to interact with their professors and classmates.
An online MBA may be the best choice for students looking to advance their careers within a specific company. However, a traditional MBA might better fit young graduates who want to become leaders at the world’s largest corporations.
Flexibility
Flexibility refers to the ability to adapt to changing circumstances. This can mean adjusting staff schedules and assignments to accommodate unexpected business events. It can also mean adapting marketing strategies to account for changes in customer demand.
Companies that embrace flexibility and agility have a leg up on their competitors. For instance, they can quickly determine how to improve their processes or change production methods. They can also adapt to market shifts in real-time and take advantage of opportunities to expand their reach or capitalize on new revenue streams.
Workplace flexibility is becoming a key factor for job seekers. Some found that jobs with flexible schedules attract seven times more applicants than those with more rigid structures.
Networking
The term “networking” has evolved significantly since it first entered English. It’s no longer about connecting lines that run in different directions; it’s primarily about communication and relationships.
Increasingly, job seekers are turning to their professional networks for new opportunities. Some experts estimate that up to 70 percent of available jobs are private.
Online MBA programs provide a virtual ground for aspiring industry leaders to familiarize themselves with the global business landscape, forming valuable professional connections long before graduation. Students can network with professionals worldwide to learn from their experiences and get advice about future career paths through student clubs, forums, and discussion groups. SomeAlum networks also play an essential role, connecting aspiring industry leaders with those who have successfully navigated the way ahead of them.
