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Financial Processes Automations’ Impact on the Work of Management Accountants

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  • Zaneta Kielanowicz
  • Tomasz Wnuk-Pel

Abstract

Purpose: The aim of the study is to examine the prevalence of financial processes automation in organizations in Poland and to analyze the advantages and disadvantages of automation perceived by management accountants and the impact of automation on their work. Design: In order to achieve the objectives of the study, the quantitative research method was used. The questionnaires were distributed among management accountants participating in postgraduate studies and courses of management accounting. The choice of this particular group was dictated by the belief that these respondents would have appropriate knowledge of the researched subject. 133 properly filled questionnaires were obtained. Findings: The research showed that most of the surveyed organizations use tools that automate financial processes. The use of such tools is actively supported by employers from the moment of recruiting new employees through training in the field of automation as well as motivating employees to increasingly use such tools. Management accountants positively perceive financial processes automation and argue that having skills in this area facilitates their work and allows professional promotion and self-development. The study showed that management accountants are aware of the advantages of financial processes automation, pointing out two key, in their opinion, potential benefits, i.e. time savings and a reduction of errors. Practical Implications: The use of tools that automate financial processes currently has an undoubted impact on the work of management accountants and in the future this impact may be even stronger. The results of this study indicate that management accountants are not afraid of losing their jobs, but rather expect that it’s nature will change, allowing them to perform their routine tasks more efficiently and focus more on their role as business partners. Originality/Value: According to our knowledge, such a broad and comprehensive overview of the impact of financial processes automation on the work of management accountants has never been made in Polish organizations before. The study is therefore unique.

Suggested Citation

  • Zaneta Kielanowicz & Tomasz Wnuk-Pel, 2023. "Financial Processes Automations’ Impact on the Work of Management Accountants," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 61-77.
    • Handle: RePEc:ers:journl:v:xxvi:y:2023:i:3:p:61-77
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    References listed on IDEAS

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    1. Stavros H. Arvanitis & Irakleia S. Tzigkounaki & Theodoros V. Stamatopoulos & Eleftherios I. Thalassinos, 2012. "Dynamic Approach of Capital Structure of European Shipping Companies," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 5(3), pages 33-63, December.
    2. Gratiela Georgiana Noja & Eleftherios Thalassinos & Mirela Cristea & Irina Maria Grecu, 2021. "The Interplay between Board Characteristics, Financial Performance, and Risk Management Disclosure in the Financial Services Sector: New Empirical Evidence from Europe," JRFM, MDPI, vol. 14(2), pages 1-20, February.
    3. Shakeel Ahmed & M. Ejaz Majeed & Eleftherios Thalassinos & Yannis Thalassinos, 2021. "The Impact of Bank Specific and Macro-Economic Factors on Non-Performing Loans in the Banking Sector: Evidence from an Emerging Economy," JRFM, MDPI, vol. 14(5), pages 1-14, May.
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    More about this item

    Keywords

    Advantages of automation; disadvantages of automation; management accountants’ approach to automation; impact of automation on management accountants’ work.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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