16 technology Cloud-based accounting services
BDO InTouch: Accountancy taking the back office forward for clients
We live in a fast-changing business world in which business executives need ever more timely insights into the state of their finances. And, BDO is meeting this 21st century challenge through ‘BDO InTouch’ – providing clients with live insights across the full range of accounting services, with global access via cloud technology
Launched earlier this summer, BDO InTouch not only transforms the delivery of ‘back-office’ accounting services, but also enables clients, from growing SMEs to global corporations, to be more agile and responsive to commercial change and the demands of increasingly complex regulation and competitive markets.
In short, BDO InTouch is designed to assist hard-pressed and ambitious business decision- makers at any time, in any place, on any Internet-linked device, writes John Burbedge.
BDO has harnessed today’s leading-edge cloud technology to provide its clients with unrestricted connectivity to ‘back-office’ data and services, literally at their digitally-enabled fingertips.
Importantly, by bringing back- office intelligence and expertise to the fore, BDO InTouch has helped create a dynamic business environment for proactive rather than reactive decision-making.
“Different business scenarios can be quickly considered and evaluated, using real- time data from BDO InTouch,” pointed out Ashley Carter, the Reading-based principal at BDO responsible for delivering cloud accounting services to Thames Valley businesses, including multinationals looking for similar services in various countries.
The Internet and cloud technology may have enabled BDO to provide instant access and time critical insights for their clients but BDO’s Business Services and Accounting practice has taken care not to rush development of this integrated service.
This diligence has ensured that BDO InTouch will provide clients
www.businessmag.co.uk Ashley Carter
with “a seamless experience as well as a selective experience".
“Some business, particularly those in startup phase or smaller UK subsidiaries of a global group, need a full virtual finance accounting team. Others seek an on-demand service where BDO’s expertise can selectively enrich a client’s inhouse team,” explained Carter.
Such services include modelling (even before BDO registers a client-business), planning tax structures and making timely VAT and corporate tax returns, designing staff benefits and processing payrolls, preparing long-term budgets and designing accounting controls, processing transactions, and producing live reports that can drill down into whatever level of detail a finance team needs.
The strategy of integrating these activities into one coherent web environment was given investment priority after the BDO merger with PKF in 2013.
“We had 19 accounting platforms when I joined BDO in 2010 and the number grew as a result of
the merger. It wasn’t efficient
for our internal teams and it wasn’t delivering the consistently exceptional client service to which everyone at BDO aspires.
“So we invested in our people and streamlined our process as well as enhancing our systems. Since no single accounting package can underpin services to such a diverse local and global clientbase as BDO's, we have remained technology agnostic. We now start every engagement analysing how best to bring each component together to build a web-enabled service that suits a specific client,” revealed Carter.
“Many of our Thames Valley clients want more than just a local service, seeking the same visibility and control for their far-flung subsidiaries. Fortunately, BDO’s Reading office is both the hub for local business advisers and the global co-ordination centre for operations in over 150 countries where BDO has offices.” (With $7 billion annual revenues, BDO is part of one of the largest global accountancy networks.)
Whilst acknowledging that any business that operates over the
THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2015
Internet should be concerned about security, Carter is confident that resilience was a key factor in the selection of BDO’s systems, which are regularly tested by independent agents. Some of the largest and most sophisticated multinationals in the region have satisfied themselves that BDO can be their trusted global partner, handling both corporate data and the personal information associated with payroll services.
With automated reporting, less paperwork and a focus on adding value in face-to-face meetings, BDO InTouch enables BDO professionals to channel their wide-ranging skills and peer group knowledge into more forward-thinking business advice for clients.
This business advisory role of accountants is increasingly important for clients today faced with the fast-changing and global nature of business, stressed Carter.
“There was a time when accountants would remotely compile a company’s historical performance figures and talk them through with the client over a round of golf. Today’s businesses need live not stale data available on whatever device comes to hand to survive and prosper. We provide that real-time data and on-demand expert support through BDO InTouch.”
Details: Ashley Carter 0118-9527315
ashley.carter@
bdo.co.uk
03301-233909
bdo.intouch@
bdo.co.uk
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