The Best Accounting Tech Companies In Australia
It is no secret that competition to win accounting clients is getting fiercer and fiercer. With accountants acting as the gatekeepers of small businesses, we look at what technology has come into the market for accounts over the last few years?
One of the greatest changes that has happened in the accounting world is the cloud.
The shift to the cloud has been enormous across the board. It has impacted our ability to work on any file, at any time, in any place. Meaning you could work on client matters at home, during a lockdown, at the office or even the beach.
The sheer volume of accountants and their clients embracing Xero over the last ten years has been transformational. Before Xero came along, how would you have gone through a lockdown situation without being able to see how your business is performing? The number of companies embracing Xero now and creating plugins is significant.
Futrli helps their clients save money by analysing and finding gaps in their cash flow and then helps them to plug that gap. That not only helps the accountant, but that information can be passed onto the customer, who in turn, can do their own cash flow analysis. It aids the accountant by enabling them to have a visual conversation with their client rather than a spoken one.
It’s not all about tech! The accountant’s job is to interpret what comes out of the tech, and Swoop helps the business to access the money and services it needs to grow. Whether that be funding via government grants, savings on international money transfers or a range of other options that can be better prescribed when you are using the right analytical tools in the first place.
Practice Ignition takes the routine and mundane tasks of sending and following up on client proposals and makes it seamless – the time-saving value of that alone is significant. In addition, the proposals themselves are put together in such a fantastic way with second to none presentation. Being able to plug into Xero, QuickBooks and MYOB is also invaluable.
Accountant’s love getting paid and love seeing their clients get paid. If there is a technology that allows your clients to have a positive experience when paying a bill, then that is a game-changer. QuickFee allows your clients to pay in the time they need. Knowing that both you and your client is taking care of is phenomenal.
Business Fitness has end to end technology that creates efficiencies. The How Now document management product takes the standardised processes and creates productivity.
Paytron automates and simplifies processes. They also allow you to handle the international payment all on one platform. It’s convenient and solves a problem that is annoying by taking away the static and friction in a business process and allowing the business to do what it’s good at doing.
If we look to the future – what sectors of the accounting industry may be ripe for disruption in the next few years? Anything routine such as simple data matching processes will likely be replaced. A computer can do a routing process better than any human can, leaving people to what they are good at.