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What are the 5 selection criteria for adopting digital accounting? Criteria 2

February 1, 2022

Are digital accounting and automated financial processes really useful for my business?

In a previous article, we already revealed the 1st selection criterion you should have in mind when choosing your digital accounting firm. Here is the 2nd essential criterion.

Criterion 2: Your needs

Your needs... a vast subject which requires an objective answer, but which is unfortunately often answered by subjectivity...

Here is a list of questions that will guide you in defining your needs.

What are your company's accounting needs?

Start by asking yourself some general questions:

  • Do you have to manage a lot of financial data flows(cash flow, invoicing, payroll...)?
  • Does your business need to go digital to grow faster?
  • Does your business need to be monitored on a daily basis or is an annual review sufficient?
  • What is your appetite for digital and digital applications?
  • How much do you want to invest in your accounting?

Then, dig into the subject to find out what will make the difference to accompany the growth of your company

  • Is your accounting up to date? How much time do you spend per month to transmit your elements to your accountant?
  • How often do you communicate with your accountant?

This point is essential to start a digitalization of your accounting. Indeed, digitizing your accounting means automating a large part of your financial process. This allows you to save precious time in your daily management. And you no longer have to worry about details (such as the transmission of supporting documents or the management of your expense accounts for example) which are managed automatically.

A digital accountant will be able to assist you in the implementation of these automations, and will be responsible for checking the accuracy of the data reported in your accounting.

  • What level of growth is your company at? Is it stabilized, raising funds, soon a unicorn?

A growing company needs to know and control its financial indicators in real time to sustain its growth. Digital applications and tools offer simplified and faster access to these indicators. The role of your digital accountant will be to accompany you in the analysis and understanding of these indicators. This will allow you to make the right decisions at the right time.

  • At what level of internationalization are you? National, European, international? Or even interstellar?

Managing the accounting of several subsidiaries around the world is often complex. Even more so when you have to combine French and English accounting rules. The consolidation of accounts will be all the easier if you have digitized your accounting and financial processes beforehand. Obviously, an accounting firm like Blendy that also has an international and multilingual team will be a plus, especially if it also masters digital accounting tools.

This is the 2nd criterion to consider when you decide to digitalize your accounting and work with a digital accountant 🚀🚀🚀🚀

Criterion 1 🚀

Criterion 3 🚀

Criterion 4 🚀

Criterion 5 🚀

Contact us to find out how we can help our customers boost profitability and growth!

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With Blendy, digital CPA, take advantage of all the benefits of digital accounting to speed up your finance process and grow your business.

Certified partner Pennylane, Dext, QuickBooks and Stripe.

We support digital companies, e-Commerce, ESN, SaaS, in France and internationally.

Chartered accountant (France) and Chartered Professional Accountant (Canada)

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