As CEO of Nixon Williams, an accountancy firm specialising in contractors, I have witnessed first hand the change that the accountancy world has seen when adapting to new available technology. I have been alongside the introduction of new technology within the accounting world and assisted with the launch of our very own cloud-based accountancy service.
As we know, accounting has been around for centuries and plays an important role in daily life, but how our clients actually manage their income and expenses has changed in the last few years thanks to innovative technological solutions.
Advances in technology have opened up new roles within business, which wouldn’t have previously existed. The importance of websites and mobile apps have increased the demand for specialist roles such as IT Architects, UI/UX Specialists and iOS Developers. With mobile search now overtaking desktop searches, all sectors have had to adapt.
It seems as though the technology revolution is quietly changing the way we interact with everyday tasks, so why not transfer this to the accounting world?
Numerous companies have embraced the rise of technology, and with the escalation of the digital era the accounting world has taken advantage and implemented services such as cloud-based storage. Many people now want more from their accounting services, which is why at Nixon Williams we have created our own bespoke online accounting platform, Vantage.
Vantage, allow users to see a snapshot of their finances on the go and acts as an access point where documents can be exchanged securely between clients and their accountant. Online portals are becoming popular in the accounting industry and more readily available.
Nixon Williams have tailored Vantage to meet the needs of our contractor, freelancer and locum clients. The cloud-based system allows for 24/7 online access and real-time account updates, which has greatly improved our customers experience.
As Craig McCall, compliance manager at Nixon Williams, put it “It provides clients with a centralised portal to access company financial records, including a P&L (profit and loss) statement and balance sheet, the portal also has the function to raise invoices, and it is all viewable in real time”.
“The Vantage System could be the future of accounting and with more and more contractors opting for the online portal, but still having that direct and continuous contact with a dedicated accountant; we are able to adjust the system to meet the needs of the clients and endlessly improve upon it”.
The ability to tailor online platforms to provide the services that consumers have come to expect, as well as make accounting and bookkeeping more efficient, has only been possible through the rise of technology.
Through the application of technology into the accounting sector we have learnt over a number of years that our clients want more access and control of their accounts than ever before. This was the the main motive for us to develop a Vantage companion app for mobile. One of our clients actually stated, “The portal is incredibly easy to use. It is simple to navigate, find information and invoice clients. The dashboard interface is fantastic and gives me all the information I need. The documentation and help sections are also clearly written and easy to understand”.
As a specialist contractor accountancy firm, we strive to embrace technology to the full and it has enabled us to see what our clients want from our services and the further changes they’d like to see. We will continue to develop and improve our services, but technology will continue to play a large part in the future world of accounting. The changes over the past decade or two have been astounding and I’m looking forward to the next step accounting and technology take together.