Prepare for the future with cloud accounting
The accountancy industry is experiencing rapid change as advances in technology continue to focus on making the financial lives of businesses far simpler. Nicola Crawford from MMG Archbold, discusses the benefits of accountancy digitisation.
In 2015 IBM predicted that over the next four years workloads hosted on the public cloud will grow by 44% - and recent research by Intuit demonstrates the power of cloud based accounting. Now, 65% of SME’s use the cloud for invoicing and accepting payments.
Firms are being encouraged to make use of cloud based accounting and devise new ways to price and sell services while empowering their customers with access to data.
Nicola Crawford, Bookkeeping and Digitisation Manager for MMG Archbold, says that the 43-strong firm focus on helping clients meet their aims and aspirations, while saving them both time and money.
Nicola points out that with an increasing number of clients working on the cloud, the MMG team has been spending less time on data processing. This gives them the opportunity to offer their clients more expert advice. She said: “Autonomous data entry means our advisory services are growing and we are developing our team to become specialists in particular fields of work.”
Efficiency is a key benefit
MMG started using QuickBooks Online in October 2016. “It was easy for clients to see how much more efficient processing is when you embrace technology,” says Nicola.
The advantages of embracing new technology are becoming ever clearer, with many firms now understanding that digital innovation has brought benefits to the way their practice works. This new approach not only differentiates firms from their competitors, but provide clients with a greater level of access to their data, improves client relations, and provides greater flexibility.
Making Tax Digital
With the move to Making Tax Digital imminent, MMGA are keen to continue to provide all their clients with total support and peace of mind. The transparent nature of value pricing is part of this reassurance. Nicola said: “In the future, we see our organisational structure becoming much flatter, with a tier for compliance work and a tier for advisory services.”
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About the company
Intuit QuickBooks is the world’s no.1 cloud accounting solution, QuickBooks Online has over 2.2 million users globally and serves more than 200,000 accountants worldwide. Every day they connect with some of the smartest accountants, small business and tech developers around the globe, allowing them to constantly drive towards a better and more integrated future. In turn, they will be making sure that they do all they can to promote the message to small businesses that their lives will be even simpler by working with an accountant.
QuickBooks will make sure that all of our ICAS partners are set up for success via free training, access to a dedicated technical support team, wholesale pricing and directory listings.
This blog is one of a series of articles from our commercial partners.
The views expressed are those of the commercial partner and not necessarily those of ICAS.