Microsoft Power Automate
Microsoft has some interesting offerings that help you understand where XBRL-based financial reporting are going. Rather than "programming", think "configuring". See the following offerings that are currently available from Microsoft:
- Microsoft Power Automate: Used to automate workflows.
- Microsoft Graph: API for interacting with data within Microsoft 365 applications using one consistent interface which is essentially a knowledge graph. (You can visualize all this using Microsoft Graph Explorer)
- Microsoft Lists: A way to add ad hoc information into the Microsoft Graph.
- Microsoft Power Apps: Rapidly build low-cost software applications.
- Microsoft AI Builder: A turn key solution used to add artificial intelligence functionality into your systems using point and click. (Here are different AI model types.)
- Microsoft Dynamics 365: Microsoft's cloud based accounting system or ERP system offering that is integrated within the 365 offering.
- Connectors: Library of connectors for integration of system components.
It is unlikely that Microsoft has a corner on this market. Oracle, IBM, SAP, and others either already do or will have similar offerings. Also, Intuit will very likely provide similar functionality for QuickBooks.
Certified Public Accountants will interact with these sorts of systems to get work done. This is how computational professional services will be built out.
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