The Future of Cloud Accounting in Canada
Technology continues to change the accounting world and just like in other sectors; the rate of change is rapidly increasing because it has become a necessity.
Transformation, competition, and disruption are convincing companies globally to constantly enhance their operations to drive efficiency, speed, and improved customer experiences. Standing out as an organisation means that every part of the company has to adapt and develop to ensure it’s able to stay ahead in a fast-paced marketplace.
In recent years, cloud accounting has taken a significant spotlight in many businesses, particularly in Canada. It has transformed the way organisations operate, and this makes us wonder what the future of this technological phenomenon might look like.
The cloud space has become an integral part of companies of all sizes and is something that many now take into consideration while planning their future technical strategies. The pandemic has further pushed firms to step up and adopt the latest technology, such as cloud-based tools to facilitate and enhance remote working conditions.
The benefits of cloud accounting are not just limited to a particular industry and can be designed for any model of business. Transferring or keeping financial data on the cloud gives companies and their clients easy access from anywhere to view the latest records and future forecasts. The platform not only gives remote access but also eliminates the need for manual entries of information. Furthermore, since it is built as an open platform, it enables itself to be integrated with a variety of other software application. With practically everything going digital today, the opportunity for innovation in cloud technology is vast.
Hasan Shahariar, Practice Lead at Xen Accounting Canada comments:
“We live in an age of disruptive technology and breakthrough innovation practices. At Xen, we are embracing these forces of change to cultivate more opportunities to add value for our clients. The enhanced interconnectivity of our services will enable us to take a multidisciplinary approach and deliver a full spectrum of client solutions.”
At Xen Accounting, we can add excellent value to our clients’ businesses across Canada by leveraging innovative technology to deliver exceptional accounting services. Xen is bringing more Canadian small businesses and accounting firms and professionals into the fold, reflecting the growing recognition worldwide of the benefits of cloud-based accounting, as well as the drive towards broader digital adoption by businesses due to the pandemic and beyond.