Digital Accounting: What Does The Future Hold?

At Danbro, we’re experts in digital accountancy. So much so that cloud-accounting technology is now a staple part of our service. Our software provides a user-friendly way to manage invoices, banking, expenses, project management, time tracking and tax forecasting. The technology also includes an easy-to-use app. This allows you to track your income and expenses direct from your smartphone!

You can also record business transactions on the go. What’s more, everything you input is completely secure. It’s automatically stored in the cloud and is available to your accountant. And, with so many of our clients already making the most of this technology, the transition to Making Tax Digital is swift, simple and stress-free.

‘A Technology Led Service with a Personal Touch’

To find out more about digital accountancy – and the way in which it benefits our clients – we recently caught up with Neil Ormesher. Neil is Danbro Accounting’s Managing Director. He gave us his take on the opportunities that technology offers to consumers like you.

“For me,” Neil began, “the opportunities that digital accountancy can offer are infinite. If applied correctly, technology can significantly enhance your business. It provides real time data to help you make crucial business decisions. The right tech takes away the legwork and gives you more time to do what you do best.”

“Technology shines a spotlight on your key statistics – after all, you can’t build a business in the dark. Danbro have always tried to stay ahead of the curve on tech. In fact, we began using cloud-based software back in 2011 and haven’t looked back since.”

“Technology is an enabler to a first-class accounting service,” he continued. “Here at Danbro, we’re committed to providing a technology led service with a personal touch.”

“The fundamental opportunity that digital accounting can offer to consumers is the ability to get key information at the touch of a button. Used in an efficient way, you can harness this information to make important, real-time business decisions. But the information needs to be up-to-date and accurate,” Neil warned. “That’s the real challenge. Understanding the system is the first step to using the technology effectively.”

“There are often add-ons to all online software, such as receipt capturing software and apps that allow technology to do the hard yards.”

Technology in a Changing Industry

So, how does Neil feel the industry has changed – if at all – since the turn of the century?

“Accounting has changed a lot over the last couple of decades,” Neil said. “Twenty years ago, an accountant was someone you spoke to few times a year. You might have checked-in with them before or after your year end, and they’d charge you a fortune – often by the hour. Nowadays though, accountants tend to charge fixed fees. They’re much more available to help answer the questions that matter to you.”

“Accountants are becoming more like business advisors. They’ve effectively replaced the role that a high street bank manager plays in a business. I see all this as a real positive. And, at Danbro, we’ve got so much experience in business that we know what works and what doesn’t! It’s so important to keep up-to-date with what’s going on in the market. We’re always open to learning new things and engaging with new people.”

The Future of Digital Taxation

Digital accountancy is one of the things we’ll be focusing on when we attend The Business Show down in London this November. In fact, Neil himself will be delivering a seminar on ‘The Future of Digital Taxation’.

“I’m very much looking forward to the event and to speaking about The Future of Digital Taxation. My talk will be focusing on where we are now, the advantages of going digital, and what’s next for the market. I’m hoping to shed some light on the benefits of digital accountancy. As you can tell, it’s a subject I’m particularly passionate about.”

If you’re not attending the expo this year, be sure to keep an eye on our social channels. We’ll be posting live content from the event – including Neil’s speech. You can also get in touch if you want to find out more about how Danbro are harnessing the power of digital accountancy.

Share This Post