There are over 40,000 accounting offices in Poland, three quarters of which are small entities, serving less than 100 clients, mostly micro companies. A good accountant is often perceived by entrepreneurs as a guarantor of fiscal control security, especially in smaller towns – he becomes an advisor in not only accounting but also tax matters.
The future of accounting in an SME is certainly revolutionary changes in the number and method of operation of small accounting offices.
On the other hand, it is an opportunity for entrepreneurs to professionalize the area of finance, improve the company’s liquidity and the entrepreneur’s ability to assess its condition in real time.
More information about technologies and accounting in SME companies in an interview with Arkadiusz Lewandowski, CEO of Altera
Technology as an opportunity and a barrier
In small accounting offices, the owner provides services to several or a dozen companies at the same time, which is time-consuming and constitutes a barrier to the development of the accounting office with new clients. Will Polish accounting offices face a revolution and will they be able to take advantage of the opportunities offered by the development of technology? – In an accounting office, most of the time-consuming processes are repetitive. And they are also the biggest barrier to accepting new clients to be serviced by the office. In so many industries, including the accounting industry in larger companies, repetitive processes have been subject to automation and optimization for many years. In the case of small accounting offices, this is a great opportunity to revolutionize customer service and the professionalization of the offices themselves. – comments Arkadiusz Lewandowski, President of Altera. Unfortunately, process automation seems simpler than it really is, especially for a small office. Automation should start with mapping and improving the process itself as it really is. Automation of an ineffective process will result in an even greater ineffectiveness in the process supported by technology, and therefore higher costs of tools and complicated implementation. Process automation in small offices is a matter of time. This is often a difficult change for accountants who are often in the pre-retirement age, constantly serving clients, partially handing over the business to the younger generation. However, with the now very wide availability of tools to improve the functioning of the company, automation will start quickly knocking on office doors. Moreover, the clients themselves will begin to require such changes, because entrepreneurs are looking for savings both in terms of money and time. – adds Arkadiusz Lewandowski.
A revolutionary change in the role of the accountant
The technology will allow offices to accept a greater number of clients, while with 2 million Polish enterprises and 40,000 accounting offices, there are about 50 companies per office. Does this mark the beginning of a period of consolidation on the Polish scene of such fragmented accounting offices? – Consolidation of this market is inevitable, but on the other hand, we see another opportunity in the revolution in accounting services for companies. An accountant who will no longer have to collect invoice binders from the client or enter them manually into the system will have much more time to become a real substantive advisor for the entrepreneur. Because Polish entrepreneurs need financial advisors who understand the company’s business model and who can look at it from the outside. Of course, not every accountant will be able to take on such a role, but it is a niche so far undeveloped on the Polish market. – adds Arkadiusz Lewandowski.
Everything in one place
What will the future of accounting in an SME look like? In addition to the role of an accountant who can enter the competences of the simplified role of CFO, entrepreneurs are waiting for a range of tools related to the improvement of the company’s finances. Platforms similar to marketplace solutions popular in the e-commerce industry are being created, in which an entrepreneur can issue an invoice, make its payment immediately with a micro-factoring service or submit an expired document for debt collection. Financial management tools will allow entrepreneurs to see the actual condition of the company. Until today, running a business in a classic model, when at the end of the month we took documents to the accountant and waited for the amount of tax to be paid, it was difficult to look at the financial condition. – It’s a bit like driving the highway with the windshield down and only having rearview mirrors. Where an organization is located, its structure of revenues, costs, and liquidity should be known to entrepreneurs in real time. And we, at Altera, strive for this state of affairs. I believe that only then can an entrepreneur develop in a predictable way, without waiting every day for something to surprise him. Collecting financial data in one place has one more plus – we will be able to apply for loans or leases more easily, which so far has been an extremely tedious and unfriendly process for entrepreneurs. – adds Lewandowski.
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