Cloud accounting
Wish upon a cloud with blockchain.
Before
Forcing accountants and financial bodies to attend compulsory compliance, ethical standards and procedures will not help to prevent financial crimes or money laundering.
Increasing membership fees every year without any value and additional charges for such classes. Threatening loss of membership if not attended. This will lead to more crimes for people to earn a living. What is the point of having integrity?
Offences caused by people not in the accounting field resulted in unfair job loss for finance professionals. They are ceo and employees who know the compliance and regulations, but committed the offences due to the weaknesses of the accounting processes.
The more levels of manual accounting entries and middleman there are, the more mistakes, confusions and manipulation on billions of records. No point digging issues from year 1819.
解 铃 还 須 系 铃 人
Increasing membership fees every year without any value and additional charges for such classes. Threatening loss of membership if not attended. This will lead to more crimes for people to earn a living. What is the point of having integrity?
Offences caused by people not in the accounting field resulted in unfair job loss for finance professionals. They are ceo and employees who know the compliance and regulations, but committed the offences due to the weaknesses of the accounting processes.
The more levels of manual accounting entries and middleman there are, the more mistakes, confusions and manipulation on billions of records. No point digging issues from year 1819.
解 铃 还 須 系 铃 人
After
The cloud is the future. Even if your on-premise accounting solution seems to function “just fine”, or if you’re diligent about managing your traditional processes, the world of accounting is inevitably changing, and it’s important for your business to keep up. The risk associated with maintaining old processes isn’t a question of capability – rather, it’s a question of whether or not you want to grow your business and maintain a competitive edge.
The ability to automate many manual accounting and bookkeeping processes. These automation capabilities enable accountants/bookkeepers and their clients to save time and increase efficiency, allowing them to spend more time on business growth.
The ability for data to be accessed regardless of location or device. This facilitates remote services and “anytime” communication, which will help to build stronger relationships between an accountant/bookkeeper and their clients.
The ability for data to be updated in real-time. Being able to access financial data and information quickly (i.e., in real time) will empower businesses to make informed decisions sooner rather than later.
The ability to easily scale to meet growing business needs. Let’s say your business currently makes 0-100 transactions per month, but experiences rapid growth that causes this number to jump to 10,000+ transactions per month. Your cloud accounting software should be able to easily support this growth.
The ability to facilitate a paperless environment. This will eliminate the need to physically store and manage paper documents, which is not only beneficial from a cost and office space perspective, but also for the environment.
The ability to provide automatic updates. This will help to further improve the functionality of the application and better enforce security.
The ability to reduce costs. Cloud-based software does not incur the costs associated with traditional software (including maintenance, upgrades, system administration, etc.).
The ability to integrate with other cloud solutions. These integration capabilities will improve the efficiency and increase the power of your cloud accounting technology stack.
Blockchain
has the potential to enhance the accounting profession by reducing the costs of
maintaining and reconciling ledgers, and providing absolute certainty over the
ownership and history of assets. Blockchain could help accountants gain clarity
over the available resources and obligations of their organizations, and also
free up resources to concentrate on planning and valuation, rather than
recordkeeping.
Professionals should not waste time on digging reconciliation, consolidation, verification and inaccurate annual reports. With the application of blockchain, they have to be competent on leadership, advisory, consulting, decision making on resources by reliable analytics reports and improvement training for international growth. Based on analytics, they must identify the weak points and strengthen the business.
Professionals should not waste time on digging reconciliation, consolidation, verification and inaccurate annual reports. With the application of blockchain, they have to be competent on leadership, advisory, consulting, decision making on resources by reliable analytics reports and improvement training for international growth. Based on analytics, they must identify the weak points and strengthen the business.
SAP Cloud Platform Blockchain service
I can work on the cloud without pilot.
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