Standard Business Reporting: It’s a good thing
A recent article in AccountantsDaily had Reckon Accountants Group Managing Director Sam Allert supporting Standard Business Reporting (SBR) and how it will positively impact upon the industry. At Reckon we view technology advancement, in general, as a good thing. The ATO’s Standard Business Reporting (SBR) is no different.
In short automation is not going to cost you your compliance revenue. And here’s why:
- Automation is going to speed up the compliance process
- Automation combined with a cloud-based accounting system will give you faster access to information
- Real time data will improve the accuracy of information you can provide to your clients
While advances in technology are changing what you do as an accountant, it also positions you for revenue growth moving forward. This is an opportunity to embrace rather than fear.
As a company that specialises in cloud-based software, we experience the value of cloud-based solutions every day. If you haven’t already tried a cloud-based product-based product like Reckon One, it’s worth taking a look. An obligation free trial is a great way to see for yourselves the value it can add to your business, enhancing rather than hindering your revenue.
SBR follows this same logic.
We would love to hear your thoughts on this subject, please leave a comment below to join the vibrant conversation surrounding this issue.