Written by 4:56 pm Software

What is the contribution of technology to accounting?

The enormous impact of technology on accounting is fully evident, generating numerous benefits for both professionals and clients. Accountants have seen the need to evolve at the same pace as technology, in order to provide an innovative and up-to-date service. Among the benefits that technology has brought to accounting, we can mention:

Automation of accounting processes: such as calculations and payments, eliminating the margin of error. A clear example is Contaya, a software that offers automatic accounting to all types of companies, helping to improve accounting processes.

Speed: now a computerized support is used to obtain balances and savings accounts in real time, money transfers are made via the Internet, tax settlements, sending of invoices by electronic exchange, financial statements through software such as Concar, accounting balances, among others.

Reliability: The automated system is more reliable than manual accounting. An example is cloud accounting software, which is considered safe, since the system is constantly updated in the cloud, so failures in physical systems and computers are no longer a problem.

Healthy finances: Control of company finances improves considerably, thanks to accurate information on the status of invoices issued and received. As an example of this, we have Docuten, a software that allows contracts and various types of documentation to be carried out electronically, focusing mainly on billing and accounting as a whole to handle business management.

Remote access: it is not necessary to be physically in an office to access accounting information.

Information backup.

Savings in space expenses: in terms of file storage, printing of documents and invoices.

Currently we can count on several accounting software that guarantee the maintenance of records and financial statements such as SIIGO, as well as payroll management and tax payment, thus facilitating the activities of accountants, such as, Starsoft, Sage and Anifx. As technology has advanced, the development of these software has streamlined various accounting functions. Therefore, in the face of constant changes, every company must be prepared to face new challenges as they arise, so as not to be left behind and continue to be competitive in the field in which they work.

Information technologies operate as the engine of change that allows responding to new information needs, which threatens to render obsolete all business structures that do not know how to adapt.

Those who have made the leap towards digital transformation are not only seeing the benefits of accounting automation, but they are leading the change. However, currently there are also certain shortcomings, especially in understanding new technologies, as well as in their implementation.

How accounting benefits from new technologies

·      Greater quality and consistency of the data with which you work.

·      More agility in the preparation of reports and accounting reports.

·      Professional diversification of teams.

·      More diverse approaches and processes.

·      Higher productivity.

·      New and bigger opportunities.

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Last modified: September 30, 2022