COVID has had an adverse effect on many industries in the way that it’s forced them to drastically change their traditional ways of working and to quickly adapt to a new-found reliance on technologies such as remote working, video conferring and much more. And accountancy is one such industry that has also had to adapt. Since March of last year, we have seen a huge rise in the trend of accountancy firms becoming more reliant on cloud-based accounting platforms to continue working.
Yes, cloud-based accounting platforms have indeed existed for more than a decade now however they weren’t as widely adopted as they could’ve been for several reasons. However with COVID and remote working forcing more firms to adopt these cloud-based platforms, many have begun to see the benefits of such a way of working. One such benefit is being able to access your organisation’s information whrenever you are as long as you have an internet connection.
This has allowed accountancy firms to work just as fluidly as they would have been in the office and some firms have allowed them to streamline their processes. Some businesses may have been prepared to adapt to this new way of working and some may have even had in as a project in the pipeline for a future transition but for others, this was an unplanned change that has fortunately provided its own silver lining. Also allowing them to be a lot more flexible and robust going forwards with the future looking rather unpredictable and a return to normality not given a set date if at all.
It also means that businesses are more readily available to help their clients in what is probably one of the busiest and unprecedented periods in their history. As traditionally without access to any cloud-based accounting platform they would only be able to perform a minority of day-to-day tasks the rest would require being the office. Limiting the hours in the day where you were available to help a client out with an ad-hoc task. Now you can log on when you’re at home and help them out from your laptop or even if your phone.
If you want to know more about the cloud-based accountancy platforms that are out there and how these can help you work more efficiently from home and monitor your businesses finances in a real-time way get in touch with a member of our team here at D&K Accounting.