The traditional accounting model, as we know it, has proven to be slow, inefficient and outdated. The evolution of software and the vast catalog of tools in the cloud, acting in synergy, have a name: collaborative accounting. Want to know more? Here’s everything you need to know!

What is collaborative accounting?

Collaborative accounting is the new accounting management model created to meet the needs and requirements of companies that are increasingly opting for digitalized management.

This new style emerges as a necessary evolution that allows immediate interaction between all the agents involved in the accounting process.

This management model is born thanks to technological advances in Artificial Intelligence, cloud computing and Big Data. These advances make it possible not only to automate tasks, but also to integrate information on the same platform with a real-time connection.

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Characteristics of collaborative accounting

In this sense, collaborative accounting and its meaning is built on three characteristic pillars that we mention below:

Direct and real-time connection

Since we live in an interconnected and hyperconnected world, it is convenient for each of the participants in the accounting process to be able to exchange information immediately through digitalized media.

As a result, a rhythm of work is created based on communication and direct connection between people and the issues to be addressed.

Integrated, updated and immediately accessible information.

Information, organized and accessible, is at the heart of the accounting system. It is essential to have all information centralized on a single platform so that it can be kept up to date and accessible in real time from any device.

Keeping all information centralized on a single platform streamlines any process you want to initiate or are carrying out.

Automation of accounting tasks.

The handling of information is increasing. The best thing to do is to get rid of unproductive manual tasks and spend more time adding value to the business.

The possibility of automating tasks leads the business reality, as it used to be known, towards a new path: technological upgrading no longer depends on the size of companies, but on their ability to assimilate and adopt the new management dynamics.

This capability will free accounting and financial analysis departments from the accounting stress peaks that were holding back their growth potential.

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Which companies will benefit from the new collaborative accounting?

What used to be accessible to large companies that required advanced management, today can help even SMEs to simplify their accounting and better understand the results and figures that their business achieves.

In turn, advisors will be freed from manual and unproductive tasks and will be able to provide a value-added service to their clients. As a result, they will be able to manage their offices more effectively.

In addition, by managing accounting processes in real time, adhering to the pillars of practice, the new requirements of the AEAT, which is committed to new technologies and works to prevent tax fraud, can be met on time.

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Digitalization and collaborative accounting will be able to take companies to the next level by responding to the demands of a changing market. Do you want to put your company at the height of the largest? TAS Consultancy advisors will help you make the best decisions to position yourself as a true competitive reference, contact us!