Small and medium accountancy firms have to redouble their efforts to embrace technology in the way they do business be it with their clients or with regulatory bodies.
With more and more focus on digitisation, with the government regulatory bodies pushing for e-compliances, paper-based business is the thing of the past.
Drive towards digitisation brings its own set of challenges to the accountancy firms, some of which are
- Data security and confidentiality. How the firms ensure confidentiality of client information.
- Technology Infrastructure. Working from office or from anywhere means need for secure and stable infrastructure to communicate within the teams, clients as well as government agencies
- Adapting/enabling new technologies to
- Automate business process flows- improve productivity
- Analyse Data to get insights
- Maintain forward looking identity in terms of website refresh, social media presence
- Business expansion into new territories.
- Keep up with the technology standards adopted by their client base. Constantly need to relearn.
- Security against Cyber Threats. With hackers finding new ways every day to hack into firms systems, it becomes more and more important to guard against these challenges
- Employees will need to be educated and trained regarding the security threats
YourCTO provides a comprehensive service allowing accountancy firms to embrace technology and make the business future proof. The service is bespoke in nature allowing the firms to evaluate their needs on short, mid and long term basis focusing on four key elements – Employees, Technology, Processes and Compliances. YourCTO will work with the firms as a trusted partner implementing and guiding the digital roadmap at fraction of the cost of hiring a full time CTO.