Your Accountant’s Role in a Digital Age

Your Accountant’s Role in a Digital Age

The role of an accountant has changed. Long gone are the days where such as important arm of your business is only engaged at times of tax and legislative compliance. Some people reading this may still receive such a service, and for some people, that’s all their business wants and needs from their accountant.

As time moves forward, we are finding more and more that the notion of the traditional tax accountant, has all but vanished. Whilst a strong regulatory, accounting and tax compliance service is essential, the new age accountant needs to form and be an ancillary arm of the business at an operational advisory level. This is particularly more pertinent in the age of digital transformation that we now face. An advisory provision is more than just accounting, it is guiding an organization with networks and contacts across Information and Communications Technology (ICT) that are pertinent and relevant to your industry.  

Digitise your business - Believe it or not, it starts with your accounting platform

No matter what type of organisation you are in, the accounting system is the heart of any operating environment. Whether your are on desktop or cloud accounting platform, it is imperative that you not only have direction around the implications your accounting structure has organically on your organisation, but the relationship it has on the technology provisions that drive your core operations. This is true from small-to-medium businesses (‘SMB’) right through to enterprise, a whole system approach is essential for operational efficiency and workflow synergy.

We often talk to client’s that have varying degrees of operational challenge that have direct and indirect impact on their financials. Many of these are on traditional and proprietary accounting systems, but many are on the cloud accounting systems that have emerged as the industry movers and shakers in the last 5 years. Irrespective of the accounting platform, the operational challenges and pain can sometimes be the same. So what do you do?

Engage with a progressive accountant.

A progressive accountant is there as a business LIFE partner, one that will not only focus on a specific solo, but have global appreciation of your business needs and challenge.

Contact us today if you would like to find out more information on how to engage with us and focus your business strategies in the new digital age.

Business Plan - Starting up a Company

Deciding to start up a company is an exciting time, and starts with a great vision. Successful companies start with a comprehensive business plan, including:

·       Market analysis - What products or services the company will offer and what are the likely sales, turnover and competition within the market (market share).

·       Cost analysis - How much will it cost to produce your goods or services

·       Advertising & Target Markets - What are the most effective advertising mediums for companies in your industry. What is your advertising budget and who is most likely to purchase your goods and services.

·       Company Structure - How will the company be structure, what types of employees will you hire and what management style is the company looking to create.

·       Financial Planning & Goal Setting - What are the companies short, medium and long term goals for financial performance, market share, business size and how will these be funded.

There are a lot of different elements to consider when setting up a company, so a detailed plan is essential for the success of your business.