Tag: data capture

It is projected that the global accounting software market will grow to some R660 billion by 2033. The automation of accounting procedures and financial activities across industries has completely changed the international business landscape. In most large companies, manual data capturing processes have been relegated to the past, and it is only in the most extreme cases that these are still implemented.

Companies can leverage identity platforms to create internal Ultimate Beneficial Owner (UBO) databases. What are the risks of unintentionally transacting with a shady shell company or funds gained from criminal activities? In South Africa, it's substantial.

Losing a loved one is hard. It’s even more difficult to deal with such a loss in the face of long and complicated estate administration processes. It can become emotionally and financially taxing. In South Africa, it is not uncommon for a deceased estate to take two to five years to finalise.

South African businesses need to be efficient, nimble and resilient to thrive in a landscape characterised by economic uncertainty, rising costs, fierce competition and low growth. Automating business processes is one of the most effective tactics they can use to increase productivity, become more competitive and reduce costs.

Accounting is in a very exciting space. Access to modern technology has been changing the profession for several decades already. But today, it stands at a crossroads that shapes accounting's future - a break away from the routine capturing, recording and presentation of historical data.

Automation can help businesses decrease the R7.2 billion lost to admin. We’re racing towards the end of another tax year and we have heard about the Finance Minister’s proposed changes for the 2020/21 tax year. Not too long after Minister Tito Mboweni unveils changes to PAYE and other taxes during his budget speech on 26 February, the season for Employer Annual Reconciliations will open.