Here are three takeaways from Maria Mason, Director, Employers’ Support at BDO talking about how a ‘best of breed’ approach to technology has enabled BDO to develop a profitable service area that meets their clients’ new needs and expectations.
Investing in Technology
Technology investment is a widely talked about topic and is often associated with vast amounts of cost needed for results. As Maria explained they have implemented a system which within it’s first year has saved more than 10x the amount of the initial investment.
“Technology investments don’t always need to be large to make a big difference. We developed a macro for an Excel spreadsheet for one client that saved us 12 days a year. We also brought in a new AI-based system for reporting and automated billing. It was an approximately £17k investment and saved over £200k in time in the first year alone.”
“It’s unlikely you will find one system to accommodate everything. Find the best systems for each of the tasks you need, rather than looking for one system to do everything.”
Maria explained that you do not always need to look for one system to cover all your requirements, sometimes a point solution can be the best answer.