The Panamanian business sector continues with the unstoppable process of digitalization and in the same way it occurs for the registration of capitals, handling of receipts and tax and financial documents of a company. Likewise, the skills required by accounting professionals, the economic situation, the digital transformation of the government and, of course, the consequences of the pandemic, are key factors that currently condition the reinvention of accounting services.
Frequently, when the word accounting is mentioned, it is thought that it is merely financial management, but in reality, there is not only one type of accounting to manage business. It is more than that, it is a tool that breaks down information on everything you need to know about the company, from inventories to calculating the costs of all the services, activities and products that are handled.
“The new accounting system for companies is of great benefit, since there are fewer expenses and operations. It is more analytical with graphs and scientific data that help businessmen to make the right decisions in current cases and those that may occur in the future,” said Accountant Carlos Ariel Julio from the Accounting Unit of Alianza Auditores.
Taking this into account, it can be said that accounting from an analytical point of view is decisive to improve productivity, profitability and efficiency within businesses, whether they are small, medium or large. In addition to becoming the operating instrument that every company must know, since it indicates the real situation, financially speaking.
“These elements offer the possibility of covering a greater number of operations in a stable manner, thanks to streamlining processes and minimizing risks. On the other hand, the challenges offered by accounting in compliance with administrative, tax, control and errors or omissions regulations are met,” adds the accountant.
Adapt to financial modernization in general
At Alianza Auditores, three business units work together to help companies climb that final step towards modernity through Consulting, Auditing and Accounting services. In fact, entrepreneurs or entrepreneurs can integrate these 3 solutions to optimize a completely digitized, automated and comprehensive service that can provide general and sustainable improvements in business processes.
And this happens, not only when a business is up and running, Carlos Ariel Julio states that since a person has a business idea they can receive advice on what they will need to start a company. Starting by creating it legally, with notice of operation or corporation and that from the beginning it is legally sound.
“The second step when we serve our clients is to review the accounts, verify that everything is financially in order and in compliance with the Treasury. Then it goes to the audit unit and from there a follow-up is maintained for the payment of annual taxes in accordance with the tax laws”, says the expert.
It should be noted that in order to carry out financial monitoring, it is necessary to have accurate and up-to-date information at all times, as well as specialized software that allows ordering and analyzing the large amount of data that companies handle. Hence, Alianza Auditores offers immediacy and effectiveness through tools that provide all the information necessary for analysis in real time and dynamically.
This also helps the company to collect financial and non-financial information, to classify, order and present it to improve decision-making, control, planning and management in general. Even so, there are many companies that still do not have an established analytical and digital accounting model, considering that the benefits it brings are less than the resource costs involved.
However, organizations that want to grow will have to consider it as a strategic asset, changing their financial mindset to embrace technological innovation and challenge traditional governance by renewing their management structures.
