SMEs Want More Technological Engagement from their Accountants

Mobility, business and finance concept

A recent survey by SAGE, one of the industry leaders in all things accounting, has revealed that 39% of small business owners would like their accountants to utilise technology more effectively in order to stay in contact. The ‘Pulse Survey 2013’ was undertaken to explore the relationship between accountants and their clients, and almost 4 in every 10 people surveyed stated that they want to be able to contact their accountants whenever they feel necessary, using many of the technological innovations we now have access to.

Laurence Collins, Managing Director of Magic Accounts, an online accountancy service for small businesses, says, “Being able to contact an accountant to discuss anything from cash flow to tax issues is crucial to the smooth operation of any business, large or small. If someone running a business has a sudden problem and needs to raise cash, or wants some impromptu advice on the overall state of their business, they must be able to access the advice they need without booking a face-to-face appointment weeks in advance. If a business owner cannot get in touch with their accountant because of a refusal on the accountant’s part to move with the times and embrace technological advances, it is only a matter of time before the business owner declines their services, to seek someone who can offer a more modern package.”

28% of the people surveyed by SAGE also stated that they would prefer a more regular stream of contact from their accountant, whether by phone or by email. Knowing that an accountant is there at the end of a phone or sitting at their computer ready to respond to a query offers a great amount of peace of mind for business owners who fret about their finances.

These statistics are indicative of the new trend in accounting which has become popular among SMEs who want to stay fully informed of their business’ financial status at all times. Where in the past, an owner might have been happy to outsource all of their accounting and bookkeeping tasks to an accountant and hear from them once a month, or when it was time to file accounts, nowadays, with the technology on offer, SME owners demand a higher level of interaction.

Online accounting services generally offer access to accounts and books 24/7 through cloud-based technology. On top of this, accountants can be contacted by email, phone or by a message on the cloud-based application, so business owners need never feel isolated and like they are out of the loop when it comes to their finances. Hiring an accountancy service like this puts the owner back in the driving seat and allows them complete control of their financial reporting and how informed they are when it comes to their business’ books.