Is accounting keeping pace with digitalization?

Digital transformations are taking place across enterprises in every industry. Becoming digital is both essential to compete and virtually unstoppable. All previous major technological disruptions have led to financial intelligence being altered to ensure more effective decision making in the face of change. This article considers issues that organizations going digital need to address in relation to accounting information provision. It discusses several points: accounting’s need to move toward the delivery of predictive information rather than relying on extrapolations of historical data; the recognition that machines make more decisions that alter accounting information needs, structures, and contents; the importance of recognizing the “data-learning-action” loop that is emerging; the emergence of “strat-perational” information contexts; and the relevance of prioritizing qualitative insights in decision making.