Wylie & Bisset says lockdown prompted clients to switch to digital accounting
Chartered Accountants Wylie & Bisset has said that the lockdown restrictions imposed by the coronavirus pandemic acted as a prompt to many clients to make the switch to digital accounting as part of a process of transformation into digital workspaces.
Partner Andrew Cowling said that lockdown had acted as a spur for some of Wylie & Bisset’s more conservative clientele to make the leap into digital accounting, and they have been pleasantly surprised by the ease of going digital and the many benefits it has yielded.
“Those clients who decided to make the switch to digital accounting have quickly realised just how simple it is to manage and how much time it frees up for them to concentrate on other, aspects of their business operations,” he said.
“In such challenging times, keeping a close tab on cashflow movements and inventories is crucial and a cloud accounting platform makes it easier to track and manage finances and merchandise or goods held in stock – and helps maximise efficiency.”
Migration of accounting process to a cloud-based system offers a real-time view of cashflow movements and liquidity status, enables management to make timely decisions to keep the company stable and stay agile to respond to a fast-changing business environment.
“With more and more companies having activated work-from-home arrangements, reducing the number of administrative tasks can help to counter the disruption,” said Cowling.
“Online accounting frees up employees’ time so that they can focus on more value-added tasks and work more efficiently amid disruptions to business operations.”
And while companies may be feeling the pinch due to the economic downturn, this in itself highlights the importance of being able to adapt quickly to fast-changing and unpredictable markets.
“Focusing on the digital workspace has probably been long overdue for many companies,” he said. “But as working from home became a necessity for many, forward-thinking companies have invested in digital transformation and have quickly realised the efficiency gains from having done so.”
As part of its digital accounting offering, Wylie & Bisset recently achieved Xero Platinum Partner status. The highest possible level of the cloud accounting system designed for small and growing businesses is for the firm’s record in assisting businesses make the transition from traditional to cloud-based accounting software.
For more information go to https://www.wyliebisset.com/digital-accounting-services/
For further information please contact Andrew Cowling on 0141 566 7000
Issued on behalf of Wylie & Bisset by Liquorice Media tel 0141 332 4935 www.liquorice-media.com
Date: 23 July 20