Digital Automation and Its Impact

A recent Sunday Star times article talked about the impact of digital disruption in the Accounting profession. That much of what we do has now been automated and simplified and therefore clients believe that we’re doing less. And yes, in terms of processing data we are.

It went on to say that now our work is “all based around strategic advice on top of traditional compliance activities such as financial and tax reporting”.

I would argue that this is nothing new. Those of us in public practice have always worked in this field. However, we’re now in the fortunate position of being able to get more accurate, timely information from our clients’ systems, so we can work in the now and the future, instead of only adding up the past.

This means we can help clients with budgeting and forecasting, planning how to grow their businesses, analysing what the current results are telling them, spot a cash flow crisis coming up, help with sales and inventory analysis, and many other aspects of good accounting and reporting practice. We can help you set up a few simple KPIs to monitor whether you’re heading in the direction you want to go.

Because we’ve run our own business for many years, we’re also very experienced in systems and processes, HR, and many other aspects of running a successful business.

We have helped guide many businesses through their lifecycles. We have already many times, as the article suggests, helped clients:

  • Buy or sell businesses
  • Deal with cross generational transfers of business
  • Raise funds from either equity or loans

 

Here at BW Miller Dean, we have had 4 decades experience both running our own successful business and working with a wide variety of other businesses. Let us help you with yours.

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