A Fintech accounting company is a new expertise focused and hi tech innovative technology integrated companies which provides as an substitute for financial solutions or products for small businesses to large enterprises.Many new companies are coming up with great innovative and Technological Solutions in the fields of accounting, mobile payments, data entry and online financial management through online accounting software which can recreate old and existing traditional ways of financial processes with much sophisticated and groundbreaking ways by incorporating new ideas with the help of fintech. Fintech has come up with much better solution than the existing ones. We can say fintech is smarter than its predecessors.
For instance, a fintech company provides you with an advantage of transferring the money from one account to another from different countries and with different currencies which in old traditional way of banking can cause much delay in work and time and also in old ways involved a lot of paperwork to be done. By fintech you can just simply transfer the money between yourselves. Fintech provides better customer service where you can get complete financial reports with bank transactions which you does not see in the normal banking system. It is just as simple as that, you required to synchronization of your client accounting software with their current bank account and the rest of the work is automatically done at the click of a button at any hour of the day.
What is the extent of fintech influence
Fintech influence is very wide and enormous as the traditional financial practices itself. As it has a very large market share fintech can be a substitute to a range of different sectors of business to provide a much pioneering solutions.
Fintech can give you standard and accurate financial advice by its Robo advisers which is always at your own rescue even at any hour of the day.
Fintech and accounting goes hand in hand as the dynamics of fintech is huge and expandable which can make your business successful.
Online accounting software with the fintech can make your accounting practices a super fast with a great accuracy.
Financial managerial solution by cloud accounting software is a fintech solution which can recreate and replace old traditional desktop accounting system.
So here are some of the fintech solutions which cloud accounting software can provide you over other desktop system practice.
Online accounting software can provide you from the basic accounting processes like managing book keeping and ledger books.
You can do your work on the go and did not have to get stuck with your desktop in your cabin. You can connect to do your work from anywhere from any device.
You can link or synchronize your bank account to the accounting software to get financial transactions along with complete business reports.
You can now prepared and compare complex reports such as profit and loss reports, sales and expense reports with ease.
With the help of online accounting software you can start performing statutory audit trials and preparation of taxes and devising strategies to reclaim VAT input data and view the real time numbers and get updated on the cash inflows and outflows and the bank balance of your business current account.
You need not have to download any software onto your hard drive has everything is cloud based and on your web browser. You can store all your data and information on the web browser which not only saves you from the excess drive space but also gives safety and security to your data.
You can easily collaborate with your customers, distributors, advisors and so on from the online by giving access to your dashboard and by resolving their queries, payments and feedbacks.
You can have your business forecasting, reporting and built-in performance tools to get real control of your business.
Your online accounting software can automatically create and send quotes and invoices to your customers.
Online accounting software CRM can provide you with better customer relationships with your clients by providing them with good customer support.
Your online accounting software can also be treated as bridging software as you can integrate higher sophisticated ERP software or payroll management or can be integrated with any other third party software synchronization.
You can plug in fintech solutions in to your online accounting software as it is built in integrated technology, you can add more fintech providing solution apps like Reach Accountant app to get more sophisticated solutions. Upgrade accounting practices and make a modular approach to your business environment with true flexibility and ease of work in your working business environmental module.
Online accounting software with fintech solution is a total accounting solution for any startups. Reach Accountant provides you with a greater fintech transformation approach to your business in accounting world. It satisfies all your accounting needs and can become the strong financial foundation with a greater accounting platform for your business.
For further reading on Accounting Software you can go through our articles here.