The readings for the past weeks have delved into the importance of keeping updated, exact accounts and an ambitious yet realistic budget. Keeping the numbers aligned and in check is, of course, imperative to keeping a business organized; but are there ways to make this process go more smoothly? One way is through the development of technologies that make budgeting more simple and accessible.
As John Orlando states in his Centage article, “automation allows organizations to improve the monitoring and reporting of the business budget and forecast in real time. This is key for the future health of the organization. Improved technology and data automation can create reports that can compare historical data, improve dashboards and generate what-if scenarios” (Orlando). Additionally, the program develops a system that constantly syncs with the organization’s general ledger, therefore minimizing risk for error in the long run.
Though this tech minimizes the risk of human error, however, it may be a difficult shift for arts organizations to make. According to the Pew Research Center, there is some resistance to using technology in the art world, in terms of both audience engagement and use of tech in the office: only “63% say digital technology is ‘very important’ for helping them use their organization’s resources more efficiently” (Thomson, Purcell, and Rainie). On one hand, it may be enticing for arts organizations to use this tech to move away from burdensome day-to-day number-crunching; on the other, it is important to stay realistic and note the field’s slowness and resistance to such advances. Certain organizations may not have the capability to teach staff how to use such programs, even though they may be beneficial to the entity in the long run.
In addition, though such technology can be a boon in the workplace, it is also essential to be able to plan and implement a budget without the use of these tools. Losing the skills needed to effectively plan an organization’s budget without reliance on tech could be disastrous, especially today when hacking and he release private information are so pervasive. Tools like this one should be used, but in moderation: an organization cannot become too dependent on them.
What do you think of the development of such technologies as automation? Do you think that arts organizations will adopt these quickly, or are arts organizations generally too behind to be able to implement them effectively and in a timely manner?
Birks, Amber. “Budgeting: Not an Easy Task But a Worthy Cause.” Chill Maadi. 7 October 2014. http://chillmaadi.com/budgeting-not-an-easy-task-but-a-worthy-cause/.
Orlando, John. “How Technology Can Improve the Business Budgeting Process.” Centage. 13 June 2017. https://www.centage.com/business-budgeting-planning/.
Thomson, Kristin, Kristen Purcell, and Lee Rainie. “Arts Organizations and Digital Technologies.” Pew Research Center. 4 January 2013. http://www.pewinternet.org/2013/01/04/arts-organizations-and-digital-technologies/.