The Figure Of The Accountant As Financial Director

The Figure Of The Accountant As Financial Director

The greater the financial and management knowledge that companies have, the greater the ability to make decisions. In this sense, an accountant who promotes his know-how among his clients is also of great help in decision-making. 

Most small businesses do not have a full-time financial or accounting expert, and startups often fail because they cannot find a profitable business model. In this way, the accountant’s role in the daily work of companies becomes evident, a professional who can assume a more participatory and advisory role.

The Significant Changes In The Accounting Industry

The accounting industry is undergoing several changes as a result of technological evolution. Competition in the sector is increasing, and differentiation is increasingly low, especially concerning the most basic services with less added value. 

These technological changes have made many of the tasks of accountant automatic. Therefore, we are facing a difference in the figure of this professional, where many of the functions that required too much work time can now be carried out in just a few minutes. 

In addition to being automatic, the process guarantees greater security, flexibility, and accessibility. This, combined with cloud technology, offers the possibility for the figure of the accountant to become the financial advisor to their clients. Thanks to the efficiency that can be achieved with the automation of tasks, the accountant can have a closer relationship with his clients and, therefore, current services with more excellent added value. 

Helping the client create budgets, make forecasts, and support financial decisions are some of the tasks of a CFO. These are services that accountants can currently offer to their clients, thus becoming their financial arm and helping them make better and faster decisions. 

How Cloud Software Can Make You A CFO

With the know-how and capabilities of cloud software, an accountant can become their clients’ CFO. The use of cloud technology is essential to adapt to the dynamics of accounting 4.0 and increase the sector’s rigor, productivity, and efficiency.

The cloud offers several benefits that help bookkeepers reinvent themselves: 

  • The ability to share data in real-time;
  • It offers reports and analysis of business in real-time, characteristics that help to have a clear vision of the financial situation of the clients;
  • Cloud software is accessible and flexible. It allows you to offer accounting services from anywhere and at any time.

But in addition to new technologies, for the accountant to become a financial director, it is necessary to adapt the way he works and communicates with the client. In this way, it is the combination of cloud technology with financial advice that can set you apart from the competition. 

With these solutions, the CFO can offer the client a more efficient and personalized service :

Decision Support

The cloud system offers solutions that allow data sharing, facilitating communication with the customer. With this data available on any device and at any time, it is much easier to share insights, support the client and advise them in decision-making. Talking to customers helps you discover what each of you needs and how and when to act. 

Budgets And Forecasts

With cloud software, it is possible to create an annual budget and monitor it throughout the period. This can be done together with your clients. In addition, this technology can make forecasts, to which the CFO must respond. 

Monitoring Of The Financial Situation

Cloud technology makes data available on any device, anytime, anywhere. This allows you to become a CFO and offer services from any location. From expense records to collection management, cloud solutions save time by automating processes with greater precision, speed, and confidence.

Real-Time Business Analytics And Reports

Cloud technology offers analysis and reporting tools in real-time, which help to have a clear view of the client’s financial situation. With just one click, you can communicate with the client, generate reports and improvement proposals, and issue invoices and manage expenses. 

To Become A Trusted Financial Advisor, The Accountant Has To Implement Some Changes:

  • Offer more consulting services;
  • Change the way you interact with customers, creating higher-value relationships;
  • Talk to customers to identify problems;
  • Help clients achieve their goals.

Also Read: How To Make The Office Reflect The Corporate Image Of The Company?

 

 

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