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Invest time to embrace technology and get so much more back!

Time is a precious commodity and technology is key to getting more of it. Whether your time-saving motivation is to address the work/life balance, to improve efficiency or productivity, or perhaps it has happened inadvertently as a result of the pandemic, embracing technology to improve how you do things is becoming vital in order to stay ahead.

The Government is mandating that all businesses and individuals must file their taxes digitally by 2022. Therefore if you are not already embracing the upcoming changes then you will soon need to.

The use of technology in the Accounting world has increased exponentially in recent years due to Making Tax Digital and more so in recent months as a result of coronavirus.

It has always been our long term aim at Randall & Payne to digitalise the way we work rather than relying on paper-based files with the need for secure physical storage. It is fair to say the pandemic brought the need for this way of working to be expedited much quicker than we had anticipated.

I am proud to say that we have a self-motivated, knowledgeable and skilled team and a cyber secure system, so work continued seamlessly when working remotely became a necessity for us all. However we knew we could improve productivity by addressing the way we access and store accounts files.

MyWorkpapers was the answer for our needs. It is designed for accountants and auditors and is entirely cloud based delivering innovative digital files that can be accessed as long as you have a secure internet connection. The platform itself offers everything we need and now we have got to know the new software, we have seen copious improvements:

Productivity

  • The files are centrally located on the cloud and can be accessed by multiple users simultaneously.
  • The files can be accessed wherever the accountant is working as long as they have a secure internet. Our staff carry out continuous CPD in the area of data protection and GDPR so understand the need to view data securely at all times.
  • The system removes the delays caused by an accounts file being physically in the hands of another staff member who may be working from home or not able to get the file to the office.
  • The software integrates seamlessly with other software being used by clients i.e. Xero, making data retrieval smoother.

Other benefits

  • A step closer to the paperless office we have been striving to achieve.
  • Work/life balance can be improved by being able to confidently work from home.
  • Our data is actually more secure as there is no risk of a physical file or piece of paper becoming lost
  • Reduced stress levels caused by not having to do the daily commute.

Advances in technology can bring so many benefits to business and we would encourage all businesses to investigate, embrace and invest in the digital solutions available to them.

However, if you haven’t yet migrated to cloud accounting this is the obvious first step towards working more efficiently. We can help advise the best package for your needs, take care of the migration and provide training at the relevant levels. Once on the cloud, you can take advantage of so many different add-ons including data processing software, such as AutoEntry and Receipt Bank. By cutting down the time spent compiling data, you leave more time for the enjoyable and more engaging work to be done!
As you embrace the ever-changing technology, whether you buy a proven market product or even develop a bespoke design (don’t forget you can claim R&D tax relief for this type of work), you’ll see improvements in every part of your business.

Nikki Cairns is a Client Director for the Accounts team – if you would like to talk through your circumstances to see how we can help you, please contact Nikki or one of her team on 01242 776000 or email nicola.cairns@randall-payne.co.uk.

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