JOHANNESBURG – The stereotype of accountants as bean counters is outdated. They have a unique insight into a business and can provide unrivalled advice on how it should run.
Technology has taken things even further, in freeing them up to offer valuable advice to help grow the business. By working with cloud accounting software, for example, accountants spend less time on manual processes.
According to Xero’s In Search of Lost Time report, “some 79 percent of non-adopters of cloud technology spend more than one hour a day on data entry – compared to just 43 percent of adopters.”
As accountants aren’t directly involved in day-to-day operations, they can see a bird’s eye view of the numbers. This means they can provide valuable, strategic advice and ultimately save time and resources. A good accountant will have the most in-depth knowledge of how a business is doing and can therefore help with tasks such as applying for capital and scaling.