Harmonising IT and accountancy
Sumit Agarwal and Jaipal Yadav of Nomisma outline how technology has altered how we live and work and why harmony between IT and accounting is closer to being realised.
Technology has changed the way we live, relax, work, communicate and do business.
According to the philosopher Aristide Antonas, "Since the appearance of the internet, we can observe the inexorable decline of the sofa." The bed now "appears not only as a piece of furniture associated with retreat and recuperation, but also a fully reclining internet workstation."
The fact that we have multiple means, and an overwhelming desire to communicate, whether by phone, email or social media, makes the image of the fully reclining 'workstation' a meaningful one.
For one thing, home and work are interchangeable, especially now that many businesses encourage remote or flexible working.
Today there are many more SMEs, freelancers, contractors and all sorts of 'one-man-bands' competing in the marketplace. The business environment has altered significantly and is still morphing into an increasingly global and competitive one.
The way accountants do their job has changed, too.
Not only do clients expect more from their accountant in terms of service quality and services offered, but businesses operate in an environment of increasingly punitive tax systems and laws, among many different income streams.
All of this means that although the rudiments of accountancy and finance in business are still much the same, expectations have changed on all sides in response to the 'Information Age'.
Compliancy, profits, reducing overheads, cutting labour, business growth, and achieving the most important thing of all ‒ a work‒life balance ‒ is exactly where technology is being underused in software design for accountants and their clients.
We believe that IT and accountancy are made for each other.
What today's accountants need is cost effective, fully integrated, cloud-based bookkeeping and accountancy software with an inbuilt business growth system. It should bring all of the features found disparately in other software into one integrated system.
Nomisma harmonises IT and accountancy. Accessible anywhere from the cloud, using any device, integrated, intelligent, user-friendly, efficient, accessible, and, importantly, at an affordable, fixed cost. Nomisma is built for accountants who seek both profit-making practices and that all-important work‒life balance.
To find out more, visit Nomisma.
|About the author|
Sumit has been a specialist accountant and tax adviser for freelancers, contractors and small businesses since 2005. An expert in business growth and development strategies, he is a renowned tax expert for owner managed businesses and contractors. Sumit won Young Entrepreneur Award in Sept 2012 organized by Indo-British Business Forum at the House of Commons by MP Vrinder Sharma.