As an employer, you need tech-savvy accountants. Using the latest technology for accounting increases productivity, saves money and keeps you competitive.
4 Reason You Need A Tech-Savvy Accountant
Reason #1: Greater Tailoring
A tech-savvy accountant can use accounting software that is tailored to your company or industry.
The accountant can track and record financial transactions, then use the information to create cash flow statements, departmental profit and loss, market share reports and other documents for management. Changes may be made to reflect economic fluctuations in business operations. Managers have an accurate picture of current operations and are able to make informed decisions. Stakeholders remain current about company progress.
Reason #2: Increased Efficiency
A tech-savvy accountant increases the efficiency in completing their work. Transferring information to cloud-based applications lets the accountant access data from anywhere at any time. Cloud applications allow an accountant to handle payroll, invoicing, taxes, benefit payments and other functions when needed. Information is given in real-time and monitored and managed from a dashboard. Optical character recognition (OCR) software lets the accountant use a scanner or a camera on a mobile device to capture receipts, invoices or other financial information and translate the text to digital files.
Workflow management and client engagement software let the accountant track the status of a project to ensure tasks are accurately being completed on time. In the future, the accountant also will be able to use artificial intelligence (AI) to evaluate assets and calculate tax liabilities.
Reason #3: Reduced Margin of Error
Using current accounting software reduces the margin of error. Implementing specialized software that transfers information among departments simplifies data entry and guarantees the accuracy of ledgers and financial reports. Users from every department have access to the same information at any time. Alerts can be set up to resolve errors as they occur. With accurate financial information, you avoid making uninformed decisions or paying tax penalties, making your company more financially stable.
Reason #4: More Strategic Planning
A tech-savvy accountant can play a more substantial role in strategic planning. With the proper accounting software, the accountant can perform tax preparation services, statistical analysis and forecast modeling without investing years into training. They can diversify their role by giving advice, developing new processes, and completing future forecasts to drive your business forward.
Partner with an Accounting Staffing Leader in Canada
To find tech-savvy accountants for your company, partner with Mercer Bradley, a staffing leader in Canada!