Businesses primarily thrive on accounting for the processing and communication of financial information, which helps them make better decisions to optimize expenses and increase profits. Presently, accounting solutions have made their way into enterprises due to their efficiency and productivity, thereby replacing traditional accounting methodologies. Moreover, the COVID-19 pandemic accelerated the usage of automated accounting operations, boosting remote working regimes.
The increasing prevalence of remote working in the sector is encouraging the need for cloud-based solutions. The improved efficiency and accessibility of cloud-based systems can revoke the upfront costs of evolving into the cloud while saving valuable time for the firm. Data breaches are a bigger risk than ever, and finance departments are one of the leading targets. Accounting professionals are adopting cybersecurity technology to safeguard the sensitive financial data of multiple clients and businesses. Companies are also implementing AI and robotic process automation (RPA) to automate mundane and highly repeatable tasks, allowing accountants to focus their time on higher impact and higher-value activities. The implementation of data analysis in accounting helps with analyzing numbers producing precious insights. These insights allow enterprises to locate potential improvements and enhance efficiency and risk management.
To assist businesses in choosing the right solution provider in this space and strengthen their operational capabilities, CFO Tech Outlook has compiled a list of the Top 5 Accounting Solution Providers in the UK. Besides, the magazine also includes insights from thought leaders in the sectors on the industry trends, recent innovations, best practices, and their advice for aspiring CIOs and CXOs.
We present to you CFO Tech Outlook’s “Top 5 Accounting Solution Providers in UK – 2021.”