Covid-19 revolutionised the way many businesses operate overnight, forcing many into the digital world. Accountancy was no exception to this.
Like many office occupations, accounting is one of those that is heavily dependent on the use of paper. Heavy into social contact and very heavy into how many hours are spent in the office.
But instead of wasting time trying to react to the change, here at Samera Dental Accountants, we believe in getting ahead of the changes that are occurring and embrace them by creating a more proactive mindset and approach.
Everything Changed in 2020
2020 was the year that the world had to transition all its processes virtually, in almost all its operations. The pandemic has accelerated the need for companies to digitally transform their business in order to be successful in 2021.
Whilst the accountancy world was already adopting a more streamlined workflow using technology, COVID-19 helped speed up the process.
Whether it is new processes or new regulations, this time is pivotal for many businesses, including accountants, to transform all their processes to digital.
Business Have 2 Choices
With this being said, many businesses have two options at their doorstep right now. Either to deploy stop-gap measures, hoping for a return to some sort of normalcy in the near future to carry on how we once did before the pandemic, or they can dive in and embrace what is becoming the future for accounting.
The latter is far more likely, considering our current economic climate. Our current environment is likely to stay for a long time and is the impetus for rapid digital change in the world of accounting.
Go Digital With Your Dental Accounts
The days of sending in paper records is well and truly over. We do not accept paper records and now request clients to send all documents electronically, using hubdoc.
All this important information can be stored confidentially, and is then used by our accountants and processed quickly, using Xero. There was already a shift towards being future-ready as we have accepted that the future of automation is not just coming, it is already here and will only increase and evolve rapidly.
As dental accountants, we have been able to minimise office spaces, reduce costs and empower our entire team by establishing security policies for all our remote workers, acquiring specialist technology, changing processes and providing ongoing technical training.
COVID-19 has exponentially increased the need for organisations to respond, recover and overcome these changes in order to succeed or even to simply stay above water during these uncertain times. Marking a major turning point in the world of accounting and bringing fresh operations and processes for the new normal in the coming years.
Bring Dental Accounts into the Digital Age
Everything is book-keeped in Xero, with clients having 24/7 access to their information. In today’s fast changing world, having access to this information to make quick, fast decisions is key for any business to actually be able to survive, let alone thrive.
Cash flow management is essential, so if you need to plan your cash, or need additional cash, lenders will want to see this information too – not out of date accounts. Real time accounts are now possible, and are now demanded by businesses and lenders, so it is essential to keep your financial records organised and up to date.
Although numerous changes are already impacting various industries, there is no current end in sight to the global economic and health crisis we are experiencing. This evidently means, there are more changes to come.
Dental Accounts & Tax Specialists
As dental practice owners ourselves, we know what makes a clinic tick. We have been working with dentists for over 20 years to help manage their accounts and tax.
Whether you’re a dental associate, run your own practice or own a dental group and are looking to save time, money and effort on your accounts and tax then we want to hear from you. Our digital platform takes the hassle and the paperwork out of accounts.
To find out more about how you can save time, money and effort on your accounts and tax when you automate your finances with Samera, book a free consultation with one of our accounting team today.