Discussing Digitalizing Your Accounting Process – A Way to Improve Internal Controls and Enhance Tax Compliance
On May 13 2021, members of our Information Systems and Accounting teams travelled to Nanjing to discuss the digitalization of accounting processes for businesses in partnership with the European Chamber of Commerce.
Last year’s pandemic brought major disruptions for businesses and prompted many to look towards technology to keep their operations running smoothly. To succeed in an increasingly digital era, it is vital that companies revisit existing and backbone accounting management processes and digitalize core aspects such as their expense and approvals process.
Adam Livermore, partner at Dezan Shira & Associates, Phoebe Yan, Information Systems Manager, and Sam Jiang, Corporate Accounting Services Manager, sat down with firms from various industries to discuss this process and highlight the main benefits of digitalization in accounting.
During the presentation firms were able to receive an introduction of the digitalization process, understand the pain points of a traditional tax and accounting processing and compliance issues related to new regulations, as well as see the benefits of improved tax compliance and internal controls by implementing a digital expense management system.
Most importantly, attendees received a live demonstration of a digital expense management app in action – allowing them to experience firsthand how it works and the benefits for their firm.
Dezan Shira & Associates Technology and Accounting Services
Dezan Shira and Associates provides technology solutions and expertise in leading financial accounting software, Digital Expense Management and ERP solutions in markets throughout Asia. Should you have any questions about how to digitalize your accounting process to fit your company’s needs, our team of experts can help you. Contact us today.
For further resources on Accounting Digitalization, you can visit our website, China Briefing, where you can find articles such as:
- Why It Is Essential for Technology to Power Your Company’s Accounting
- E-Invoice Management in China: How Companies Can Stay Compliant
- Optimizing Your China Accounting and HR Processing with Cloud Technology – New Issue of China Briefing Magazine
You can also visit our publication store, Asia Briefing, which houses in-depth business guides and magazines for multiple regions in Asia.