Adest are delighted to announce some big news. We have merged with Glantus and AVIDO, two outstanding software development and services companies. Each of these companies has considerable talent and experience in the software industry.
We expect that the combination of our strengths and experience can greatly benefit you and your organisation and look forward to updating you on our progress.
We thank you for your support and look forward to continuing on our exciting journey together.
Companies are moving to automate tasks to allow valuable resources to be redeployed to other areas of their business where they can provide greater value. From our research cloud accounting further increased in popularity in 2016. More companies have realised the associated value and committed to an automated cloud accounting system.
Some cloud accounting trends which are developing in 2017 are:
There is an increased expectation in businesses that all paper processes will soon become digitized. Therefore, more companies are inclined to send invoices in electronic formats (i.e. e-invoicing) such as pdf, xml, etc. This removes both manual and paper processing allowing invoices to be processed faster as documents don’t need to be printed/scanned and can automatically be electronically captured, matched and processed.
Collaboration across departments:
As the marketplace continues to operate at a faster pace there is an increased need to establish and accommodate better communication channels between departments. Through improved visibility and communication with other departments a greater understanding of available budgets, potential issues, etc, means more accurate forecasts can be created. This allows for increased flexibility and efficiency across this entire organisation.
Increased Reporting and Accountability:
Data analytics are important not just … Read More >
This is the final installment in the Three Most Important Year End Steps for Financial Controllers blog series. If you’ve missed the previous blogs you can start with the first step here. In this blog we’ll discuss the final step: plan for next year.
3. Plan for Next Year
According to Mark Schofield at PwC, there is an increasing demand for accounting professionals with a wide range of skills including strategic thinking with a strong understanding of relevant technology and data analytics systems. Therefore, these practices will help advance your career. The more you improve these skills by practicing them regularly, the more job postings will be applicable to you. Identify areas which would be beneficial to improve in next year and create a detailed plan of how you’re going to achieve this.
Envision exactly how you would like the department to operate in the future. Identify the changes needed to make this happen. For example, you might want to reduce … Read More >
As promised in last week’s blog, this week we’ll continue to analyse the 3 most important year end steps for financial controllers. Last week we covered the review of work completed by the department during the year; this week we’ll discuss how to analyse the performance of the work completed.
Once you have reviewed the work you have completed over the past year the next item on your agenda is analysis. Analyse the performance of the work you and your department have completed. To ensure you’ve covered everything make sure to ask yourself:How do metrics gathered from the previous year compare to prior years? Did I improve the efficiency of the approval process? Did I increase/alter communication with suppliers and what was the outcome of this? Were fewer duplicate invoices sent in? Was I able to take advantage of early payment discounts?
The best way to measure and analyse your work performance is through data. Therefore, make sure you record and compare as much … Read More >