The role of each accountant in the business is extremely important, especially in the current context of economic development and integration, the opportunities and challenges for the accounting industry are not small. Join Bizzi to list 4 challenges that every accountant will have to face in this article!
Information security, data control is still limited
There will be a significant change when most accounting departments are forced to apply information technology, even in bookkeeping and financial statement planning activities. At present, there are still a number of specialized training programs, imparting knowledge to accountants that lack in-depth and multidisciplinary knowledge. If this situation lasts forever data control will become more and more difficult, hindering the process of information security and global integration.
Therefore, it is more difficult to require skilled workers in information technology, control and manage data.
Comply with new regulations and standards of the Law
The work of accountants is very closely related to financial and legal matters. With the current integration context, accounting standards and regulations always change quickly to match the times. However, in Vietnam, the application of accounting standards in practice always faces many difficulties from limitations such as: legal system; Qualifications and qualifications of accountants…
Accounting personnel need to be constantly updated with the latest announcements and improve the quality of professional working tools.
For example, with the case of regulations on e-invoices in Decree No. 119/2018/ND-CP, it has completely changed the process and method of working in enterprises. The accounting department must change to avoid violations and penalties.
Increase efficiency and optimize costs
Due to the nature of work that requires high accuracy, accountants always work in a state of stress. Besides, having to follow the rules and standards will make them very easy to fall into a feeling of fatigue and depression. This results in very low performance.
Many businesses implement policies to optimize costs, specifically reducing personnel. Instead of using a lot of human input for manual processes now applying technology solutions is the best solution for your company. Automating financial accounting operations helps the accounting department reduce a lot of work and effort to handle manual tasks.
Reduce fraud, avoid tax risks
For the accounting profession, there are many "gap" maybe "profiteering" Okay. Before that temptation, many accountants took advantage of these loopholes and put a lot of money in their pockets. According to ACFE - American Association for Fraud Investigation, each organization loses an average of 5% of revenue because of fraudulent activities by the financial accounting department. But only 35% companies apply governance measures to proactively prevent fraudulent actions. With tools to help digitize accounting activities, businesses can reduce fraud, withdraw corporate assets, or even tax risks.
With the current development of technology, and under the direction of the Government on comprehensive digital transformation, the accounting department in particular or the business community in general will easily face problems. more problems thanks to the application of tools to automate accounting activities.
Effective right hand for all businesses – With Bizzi, everyone is easy!
Bizzi officially "launched" the Vietnamese business community from September 2019. With a solution to automate bill processing using AI artificial intelligence and process automation using RPA robots, Bizzi has become the name mentioned as an effective right-hand man for the accounting team in the community. Vietnamese businesses thanks to touching the "pain" of companies in invoice processing and cost management.
With a friendly interface and outstanding features, Bizzi supports businesses to digitize accounting and financial activities efficiently and smoothly:
✔️ 95% invoices are automated, reducing manual processing rates
✔️ Reduce 80% invoice processing cost from 6,000 to 2,000 VND
✔️ Control and manage expenses, payment terms easily in real time
✔️ Automatically compare invoices by quick information fields: company name, tax code, address, ..
✔️ Invoice processing time only takes 1-2s/invoice
✔️ Minimize repetitive tasks such as data entry, checking, reconciliation
✔️ Fix wrong input error when doing it manually
✔️ Easily store invoices to help solve the worry of losing/losing/damaging invoices.
✔️ Simplify the job of requesting payment in just 2 clicks
✔️ Approve payment request anytime, anywhere, instantly via mobile
Since its launch, Bizzi has attracted customers from large-scale corporate enterprises in various fields such as: Grab, GS25, Circle K, Tiki, Guardian, Medicare, Pharmacity, to SMEs together with with more than 4,000 vendors using the platform daily.
Taking customers as the focus, bringing many quality products and services and giving our best support in product issues to develop with Vietnamese enterprises, Bizzi wishes to bring a solution to help automatically handle the problems. accounts payable in the most efficient manner.
- Learn more at: https://bizzi.vn
- Contact Info:
– Hotline: 028 6275 0321
– Email: [email protected]
