Technology – Not just for international clients

As lockdown starts to ease allowing national and international travel to slowly increase, and employers start finalising their plans to open office doors again, there are lots of unknowns around what the ‘norm’ will be for businesses going forward. Will video calls continue to replace face to face client meetings? Will people rush back to working in the office? Although there have been lots of ‘bumps in the road’ for businesses in 2020, providing the best client service for local, national and international clients has remained constant at AAB.

Lockdown has highlighted the importance for our clients, and all businesses, to have access to accurate, real time accounting information no matter the location. As we transition to a new normal, ‘working from home’ (WFH) will likely be just ‘working’ in the future and it’s important at the outset to consider what that looks like for you.

Video calls have become a part of our everyday life, and although it may have taken national lockdown to finally learn how to screen share, video calls are not a new approach to the way we work. Within the Virtual Finance Function Team, we work with international clients based in Canada, Abu Dhabi and Sweden to list a few, and therefore having face to face meetings regularly is not practical. Having an international client portfolio has encouraged the use of technology and flexible working to ensure client expectations are met (even if that does mean there is the odd 6am phone call due to differing time zones). Therefore, the transition to WFH during lockdown was a seamless process.

The immediate change of not being able to go to the office has highlighted how important it is for businesses to have easy access to real time accounting information from anywhere. COVID-19 has resulted in businesses having to access budgets and monitor cash flow closer than ever before. Having a cloud-based accounting system with regular and accurate data input therefore provides numerous advantages for businesses. AAB offers this support to help automate the finance solutions businesses currently have in place so that key decision makers have the information they require when they need it.

Automating a business’s finance system can be specifically for one part of the finance solution, i.e. automating the purchase approval system or building bespoke finance reporting packs for management, or it can involve moving the full finance system onto a more efficient cloud platform. Even the smallest change can significantly improve the output quality and efficiency which ultimately streamlines and improves not only the finance system but the overall running of the business as well.

As we see the rise of local lockdowns in the UK and some international restrictions remaining in place, there is still a lot of uncertainty about what the remaining road of 2020 will look like. Whether your business is based in Aberdeen, down south or overseas, if having more timely, accurate finance information would help bring clarity and ease to strategic reviews and decision making then AAB are here to help. Whether we help you streamline your finance solution, provide insight on your systems and controls or implement new finance systems then get in touch.

We are passionate about bringing the right solution at the right time for your business and although it may feel like an unusual time to be making changes, use this opportunity to really assess your finance function.

if you have any queries please do not hesitate to get in contact with Lucy Oddie, Virtual Finance Function Senior Manager, or your usual AAB contact.