‘Bean counter’, ‘number cruncher’, ‘penny pincher’ … the word ‘accountant’ can still conjure up clichés and stereotypes in the minds of some people.
The image of a dull, grey-haired figure huddled over a ledger in a 1960s-style office is a long way removed from the truth for the new breed of digital-savvy accountants who have a wealth of business acumen and insights that can make them valuable advisors to ambitious business owners and entrepreneurs.
Technology has transformed the business of accountancy and this means that 21st century accountants can deliver financial and business development advice alongside preparing accounts and annual returns giving tax advice and other traditional services.
The biggest shake-up to the world of accountancy has come through ‘cloud accounting’. Everything is faster when your financial data is stored securely in the cloud. Latest numbers can be accessed anytime from anywhere in the world allowing businesses to understand the state of their financial health in real-time.
As an accountancy firm at the cutting edge of cloud technology, we love the dynamic relationships we can form with businesses to help them become more profitable and efficient. We are proud to work with Xero, a ‘software as a service’ company that has thought deeply about what businesses need rather than how bookkeeping and accountancy has always worked. Plain English, not jargon, is the starting point and you can do everything via a smartphone or tablet. Xero seamlessly integrates with many useful business apps: Receipt Bank allows you to record receipts by using the camera on your phone; Trip Catcher logs your travel and mileage expenses; Chaser takes the pain out of chasing late payments; Gocardless accepts payments electronically with no fuss and Work Flow Max records time spent on tasks for multiple clients.
We make maximum use of the extra time this frees up for us and our clients to focus together on business strategy and forward planning.
The other big benefit of cloud accounting is it allows us to set fixed prices for our services upfront once we have understood the needs of our clients.
The boring business of year end accounts is almost redundant in this brave new financial world because our clients understand their business performance throughout the year. They no longer have to wait until six months after year end to find out whether they have made as much profit as they hoped.
If you feel your accountant is still stuck in the 00’s or dare I say it 90’s, call us on 0121 794 4009 or email us at email@example.com for a free, no-obligation chat.