On July 29, 2021, Adam Livermore, partner at Dezan Shira & Associates, joined a panel discussion at the virtual event Accounting & Finance Show Hong Kong held by Terrapinn. Along with a range of experts, Adam shared his insights from a technical point of view regarding why it is important for companies to shift their accounting practices into the digital era.
Is keeping your accounting system up to date with the latest digital technology a choice or a must?
Regardless of size of company or location of operation, those who adapt and incorporate technology into their long-term strategy find that digitalization can lead to greater profit margins and higher quality services for their clients.
During his discussion session, Adam noted that in the age of Covid-19, digitalization is especially important as remote work continues to be the norm. “With accounting digitalization, you will also have the flexibility to work remotely with clients. This way you can lower costs with optimized staff allocation and improve the efficiency of management.”
Adam also shared his experience leading Dezan Shira & Associates’ IT/IS team developing and improving our client ERP solutions – providing attendees a clear overview of what technology improvements such as optimized ERP systems do for accounting costs and what the benefits are for companies.
To wrap up his session, Adam outlined several strategies for companies to move their traditional accounting systems over to a digital one. Key takeaways included not seeing it as a one-time revolution, but as a long-term ongoing process and keeping both IT and accounting staff informed during the process to ensure a smooth transition and simplify new employee on-boarding.
Dezan Shira & Associates Technology and Accounting Services
Dezan Shira and Associates provides technology solutions and expertise in leading financial accounting software, Digital Expense Management and ERP solutions in markets throughout Asia. Should you have any questions about how to digitalize your accounting process to fit your company’s needs, our team of experts can help you. Contact us today.
For further resources on Accounting Digitalization, you can visit our website, China Briefing, where you can find articles such as:
- Why It Is Essential for Technology to Power Your Company’s Accounting
- E-Invoice Management in China: How Companies Can Stay Compliant
- Optimizing Your China Accounting and HR Processing with Cloud Technology – New Issue of China Briefing Magazine
You can also visit our publication store, Asia Briefing, which houses in-depth business guides and magazines for multiple regions in Asia.
Manager, Dezan Shira & Associates