Have Accountants Adapted To Covid
Have Accountants Adapted To Covid
The finance industry took a major hit back in 2020, with many processes being at a stand-still as the majority of businesses went into a work from home mode. 2021, brought its own challenges, with Covid-19 still not completely under control, we at DAS Accounting have had to hustle, to bring about vital transformations that help us reach each of our clients at their point of need.
The experience through the 2020 pandemic has changed the way we work. Here’s a look at the steps (and leaps) we’ve taken to ensure that you only get the best-in-class Accounting Services rendered, hands-down!
operational tools
Till March 2020 accounting firms relied on in-person meetings for a majority of its operations. Beginning with meeting prospective clients, audits, reporting, documentation and more were all moved online primarily because of Covid-19. DAS accounting saw this as a need for tools that can help us reach our clients virtually.
We’ve used collaborative platforms like Microsoft Teams, project management platforms and top-of-the line cloud-based accounting software to facilitate our operations as smoothly as possible.
At the end of the day, we’ve drastically reduced our carbon footprint (since we turned paperless)!
In fact, many reports have revealed that a shift to cloud based systems, video-conferencing and other remote work systems is the way forward in a post-Covid world.
Businesses across the world stand to gain tremendously even if they invest a small amount in remote work tools and platforms.
virtual relationships
Since the finance/accounting world has relied on in-person working for so long, it can be difficult to shift completely to Teleconferencing. However, here at DAS accounting, we’ve put our customers first by adopting Virtual Meetings as a norm, since the pandemic hit in 2020.
With virtual relationships, the challenge was not technological, rather, it was a matter of how we can build and maintain rapport with our clients, virtually! Shifting older relationships online was certainly easier than creating new relationships online. However, with a little ingenuity, clear communication, transparency of work flow, and lot of patience, we’ve started the ball rolling where creating new and lasting relationships online is concerned.
Paying attention to the little details goes a long way in building trust with prospective or new clients, who have not worked with us in the past. Embracing telecommuting, online calls and also phone conversations has enabled our DAS accounting consultants to work smarter and faster than ever before.
virtual auditing
If businesses have been operating on a paperless basis, it will be easy for them to facilitate almost all accounting services online. However audits have been largely in-person and on-site for better accuracy. So, in effect, businesses have had to fast-track their digital transformation, in order for them to be able to perform virtual audits virtually.
In many cases external vendors have been called in to help complete an audit accurately and efficiently. Some accounting firms have even gone so far as to employ drones to ensure that counting and other inspection audits are done perfectly.
our way forward
No two businesses are alike. Each of our clients have been impacted to different extents and in different ways. Each has a different business model that operates on different mode of financing. Once the incentives and support packages offered by governments and financing companies cease post-pandemic, businesses must ensure that they are strong enough to make it on their own.
At DAS accounting we have experts for every stage of a business’ lifecycle. Our experts do everything in their experience and financial know-how to get businesses to re-model themselves – to become more resilient, post pandemic. Evaluating where you stand today can help forecast where you’ll be next year or two years from now. We help businesses make good decisions that help them retain revenues or create new revenue streams that protects them from insolvency or bankruptcy.
future-tense?
Financial futures are still quite uncertain owing to the market slowing emerging from the pandemic. Let DAS accounting help you stay on top of your game with our custom service offerings. Talk to our experts today and find out how DAS accounting, the leading accounting firm can help your business make sound financial decisions.
more featured insights
Autumn Budget 2025: Facing the Future – Region: UK
A pivotal Budget for a changing economy, with major updates across pensions, property and personal tax. Discover the key takeaways that could shape your financial plans.
Wealth transfer strategies for high-net-worth individuals – Region: UK
HMRC is tightening its approach to R&D tax relief, with enquiries rising sharply and new compliance measures increasing scrutiny on every claim. With stronger documentation and early preparation now essential, businesses must ensure their R&D claims are accurate, well-evidenced and robust to avoid costly delays or rejections.
Preparing for a UK Business Exit – Region: UK
Selling or passing on your business is one of the biggest financial steps you’ll ever take. With the right planning, you can boost your valuation, reduce tax, and set yourself up for life after the sale.
HMRC intensifies scrutiny of R&D tax claims – Region: UK
HMRC is tightening its approach to R&D tax relief, with enquiries rising sharply and new compliance measures increasing scrutiny on every claim. With stronger documentation and early preparation now essential, businesses must ensure their R&D claims are accurate, well-evidenced and robust to avoid costly delays or rejections.