Sophie Adams, a Senior Consultant working with Ecovis, explores the need for accountancy firms to have an integrated, seamless process and the reasons why linking systems is core to future-proofing the accountancy environment…
The integration of systems is key in order to manage all the different operational processes within a business efficiently. As a business grows, it will become increasingly difficult to manage a number of individual systems that all hold different data sets that aren’t aligned – it can also lead to duplication of work.
For an accountancy practice this also comes with challenges when it comes to gathering information to produce a set of accounts as it is very time-consuming to collate information from different sources and it is very likely that there will be reconciliation issues. By integrating systems there will be many benefits for the business as well as an accountancy practice including: –
- Less administration: If all systems ‘talk’ to one another it means that information only needs to be input once into a system which will update all linked systems including financial software.
- Information available in one place – better security: Having all data available in one place means there is no need to have multiple users on all systems resulting in better control over access.