Accounting innovation

Accounting innovation

It might seem that accounting programs or software only have a utility on the scale of preparing the journal, the general ledger of accounts payable or receivable, keep track of billing, or other standard functions, but the truth is that thanks to the innovation that these have been adopting over the years, they now also encompass a wide range of functions and services, such as reporting, data analysis, graphics, automations, automatic updates, customization, Internet connectivity, scalability, expandability, data security, among others.

The innovation in these ERP (Enterprise Resource Planning), not only help to manage invoicing, accounting, taxation and labor treatment, but also, with the new modules that are being updated and implemented, help to carry out a more exhaustive control. Software allows a single program to cover all the needs and optimize the time and resources necessary to correctly carry out the operational management tasks. We could say that they provide a 360-degree view of the company’s situation in a single digital platform.

ERP software allows access to all the information in a more accurate way and also permit  making quick and effective decisions. It is a solution that adapts to each company in a personalized way, enhancing teamwork.

Many new software are implemented directly in the cloud, therefore, they can be used from any device and place, without depending on the need to be located in an office. This allows new ways of working, such as remote working, thanks to online connectivity.

It is essential that these specialized accounting programs allow the evaluation of information and users to obtain a broad perspective of financial statements and activities, thus being able to report data and analysis to be able to elaborate the various formal obligations.

The field of accounting automation provides support through technological tools to facilitate the tasks. It may seem that this system is a complex and inconvenient process, but it is a necessary change to adapt to the new constant technologies, in addition to simplifying the processes. Automation brings us advantages such as time savings, since any document can be posted instantly, and to have the accounting updated daily, so that one can know the accurate status of the company at any time.

Because these programs are flexible, they can be customized according to the needs of the business in question, either in the short term or if modifications are required at a later date. This may be due to an increase in the volume of invoicing or transactions, since they can be scaled as the business or its scope of application grows.

Thus, software can be adjusted so as to maintain the way the company works and not the other way around, because many allow the integration of other software and thus allow a company to continue with the same procedures without altering the way the team works. Undoubtedly, it provides performance improvements.

With the great connectivity we have through the Internet, it is logical that ERPs provide the ability to send and receive digital documents and thus reduce administrative tasks.

Finally, these innovations make it possible for the most routine and manual tasks to be automated, giving the work performed greater precision and efficiency, since they allow having a large volume of information in a short time and having it accessible anywhere in the world thanks to the connectivity that these ERP platforms allow.