Technology has influenced how the business world operates. It has influenced practically all aspects of day-to-day operations of businesses, both large and small. We live in a world that is more connected than ever. Business relationships are formed through social media platforms and on networks. Geographical boundaries are becoming less important, as clients are more focused on the quality of work performed, rather than where the work is being performed. In light of these changes, companies are assessing their business processes, including how their accounting departments operate.
The Cloud
Cloud computing, sometimes referred to as Software as a Solution (SaaS), is a model where the cloud provider installs and operates the applications, hardware and software in the cloud, allowing users access over the internet, as opposed to having to load the software on an individual hard drive or central server.
This technology enables users to access the programs from anywhere, anytime giving them more flexibility and 24/7 access to accounting data. Additionally, the companies that host cloud-based programs are often responsible for handling IT issues, data security, and backups, so that businesses can reduce their investments in IT services and staff, thereby increasing profitability.
Outsourcing
Although outsourcing has been around as long as work specialization has existed, in recent history more companies employ the outsourcing model and even outsource whole non-core operations. One of the most commonly outsourced departments is that of finance and accounting.
Business owners have realized that the processes in this department can be done more efficiently, and therefore more cost effectively, by companies equipped with the proper tools, processes and appropriately trained personnel. This practice is particularly beneficial to small and mid-sized companies, because it allows them to access a wide array of professional skill sets that otherwise might be inaccessible or unaffordable.
Virtual Accounting Office
When services are provided “virtually” the work is performed off-site, creating substantial savings. Besides not having the expense of a full-time employee, the business owner also saves the cost of office furniture, equipment, and even office space.
In addition to substantial savings, businesses enjoy access to accounting and finance professionals with specific skill sets. With geographical boundaries erased, the location of those skilled professionals is no longer an issue. Services can be performed anytime, from anywhere.
Reliable Access To Information
Technology changes the way business relationships are formed and how they work; it also gives us almost instant access to reliable information. Members of the workforce are accustomed to having access to information whenever they need it and having that information allows them to perform services quickly.
Monthly revenue and profitability reports are important tools when making business decisions, but in an age when work is performed in different time zones, and outside of traditional business hours, instant access at any time to additional data can improve operations. Decisions that can impact the company must be reached with real time data to insure the most effective and efficient course of action can be taken.
Businesses must embrace technology that impacts their accounting department to remain competitive. We are currently offering a free analysis of your accounting business processes and accounting systems. If you would like more information on how Alan Neal & Associates can help improve your profitability, please call Alan at 423-756-4076, or send an email to alan@alanneal.com.
The Cloud
Cloud computing, sometimes referred to as Software as a Solution (SaaS), is a model where the cloud provider installs and operates the applications, hardware and software in the cloud, allowing users access over the internet, as opposed to having to load the software on an individual hard drive or central server.
This technology enables users to access the programs from anywhere, anytime giving them more flexibility and 24/7 access to accounting data. Additionally, the companies that host cloud-based programs are often responsible for handling IT issues, data security, and backups, so that businesses can reduce their investments in IT services and staff, thereby increasing profitability.
Outsourcing
Although outsourcing has been around as long as work specialization has existed, in recent history more companies employ the outsourcing model and even outsource whole non-core operations. One of the most commonly outsourced departments is that of finance and accounting.
Business owners have realized that the processes in this department can be done more efficiently, and therefore more cost effectively, by companies equipped with the proper tools, processes and appropriately trained personnel. This practice is particularly beneficial to small and mid-sized companies, because it allows them to access a wide array of professional skill sets that otherwise might be inaccessible or unaffordable.
Virtual Accounting Office
When services are provided “virtually” the work is performed off-site, creating substantial savings. Besides not having the expense of a full-time employee, the business owner also saves the cost of office furniture, equipment, and even office space.
In addition to substantial savings, businesses enjoy access to accounting and finance professionals with specific skill sets. With geographical boundaries erased, the location of those skilled professionals is no longer an issue. Services can be performed anytime, from anywhere.
Reliable Access To Information
Technology changes the way business relationships are formed and how they work; it also gives us almost instant access to reliable information. Members of the workforce are accustomed to having access to information whenever they need it and having that information allows them to perform services quickly.
Monthly revenue and profitability reports are important tools when making business decisions, but in an age when work is performed in different time zones, and outside of traditional business hours, instant access at any time to additional data can improve operations. Decisions that can impact the company must be reached with real time data to insure the most effective and efficient course of action can be taken.
Businesses must embrace technology that impacts their accounting department to remain competitive. We are currently offering a free analysis of your accounting business processes and accounting systems. If you would like more information on how Alan Neal & Associates can help improve your profitability, please call Alan at 423-756-4076, or send an email to alan@alanneal.com.
