Technology and Online Accountants
Technology had a revolutionary impact on the service sector around the globe. Trends of service industry pertaining to business to business services and business to consumer services have been evolving immensely. Financial and business services are one of the lively examples of service sector which has adopted technology and expanded their business to another level of innovation and quality.
After the invention of Enterprise Resource Planning software, financial services and analysis process has expedited. Enterprise Resource Planning software enables the professional accountants to access and edit information anytime and from anywhere. Integrated information provided by the Enterprise Resource Planning provided regarding the client system enables more efficient, cost effective and more reliant analysis for the organization which enables our clients to use our provided information for accurate and better decision making.
Cost of Accountants in London are exceeding rapidly, majorly because of abrupt increase in the operational cost required to run a financial services business in the central city. High cost unable the firm to charge an affordable fee for the services provided to their clients, eventually hindering the culture of acquiring professional assistance and expert consultancy for business related issues. Technology has been very persistent in resolving this dilemma. Many professional chartered accountants have established their financial services firm in the distant locations, out of the country in most cases, to the places where operational costs and employee salaries are relatively low and it enables the firm to provide valued services to their valuable clients. These financial service firms are connected to their clients by the use of technology, enabling them to provide their financial services in entire United Kingdom and especially in the heart of central London where the local financial services firms are too expensive to afford for the small business accounting owners which are in need of financial consultancy but are unable to afford it.
Online Bookkeeping financial service has been emerging recently. Online access to bank statements and Enterprise Resource Planning software has enabled accounting firms residing beyond boarders to bookkeep the financial transaction accurately and on timely manner. Accounting transactions are carefully recorded and presented in the financial statements in an economical and effective manner.
Many modes of communication such as video conferencing, mobile video calling and software such as Skype have empowered communication between the clients and their professional business consultants regardless of their actual global positioning. Now, business owners can have an appointment face to face from anywhere around the globe and acquire best possible solution for their problem identified in the business.
Ever since the dawn of modern era, internet has turned this world into an economic global village. Since the world is open for competition their virtual world, the quality and price of the services being provided are getting better and better with every passing day. New competitors with new ideas are raising the bar of standard for the service providing industry regardless of their size and nature of business. This aspire to thrive and excel to gain maximum share of the business creates a sense of improvement which benefits the company itself and its clients because services are then provided at an affordable rate and remarkable quality.
In short, just like other business sectors, the design of service sector has been truly reengineered by technology.