In an exciting event organised to encourage SME business persons, its organiser announced to those gathered that you would change the course of this world for good. The statement was received well by the audience, and was approved with a large round of applause.You may wonder that what is so unusual in the said. Definitely, there is a reason to bring the said into this conversation.
The argument that emerged during the event is an ultimate truth. The current performance of the SME sector determines the future of this world. It can go either way – towards good or towards worst. Everything depends up on this said sector.The relevance of bringing the spotlight over the sector is once again emphasised – strongly and aggressively.
The same narration leads to the discussion table where the importance of offering the support of advanced technology to the SME sector. It is a rather bigger discussion – more deep and more elaborate.While analysing the aforesaid point, a discussion over business accounting software platforms is pertinent. In fact, it is the right point from which a genuine discussion over the point of the relation between SMEs and advanced technologies should be commenced.
Undisputedly, a lot of simplifications has been gifted to the SME sector by the modern technology – particularly, by the automated business accounting system. Automation is a true blessing. It eliminates data redundancy and simplifies the process of calculation. Can you expect anything more beneficial than the said? Efficiency, accuracy and transparency have a connection with automation.A SME, which follows the traditional accounting framework, performs less compared to the one, which goes by the technology-backed (automated) accounting framework.
The difference can be experienced clearly. A disturbing issue is the unnecessary wastage of time and effort. Notably, it is only in the traditional platform the possibility of wastage exists. On the other hand, what rests in the advanced platform is efficiency in terms of time as well as in terms of effort. In any process, remaining up to date is the key to remain in the path of progress. In the case of accounting also, it is not different. In the traditional, the framework is simply incapable to comply with the requisite in the right way. In that scenario also, the advanced scores a point more than the rival.
When the wastage of time and effort is properly tackled, when the element of better data security is achieved, and when the matter of being up to data is rightly addressed, what can be expected is business growth. If something that can help the SME sector, it is this way of injecting advanced technology such as automated accounting system.
Vignesh Padamattingal
