Today hiring a chartered accountant to handle your business books has taken on a new level of importance. More complex functions have arisen as the world of business continues to change rapidly. Just a few years ago, a business owner would hand over his information to a CA firm and say, “Here are my books, get my taxes in order – and I’ll see you later!”
But the services of chartered accountants have now evolved to much higher levels of importance. A prime example is risk management. This became a huge issue in 2008 as the entire world was rocked by a banking crisis that sent ripples throughout the global economy.
Running a business successfully today means having the ability to make critical decisions in risky business climates. Managers need hard numbers and deeper insights into their finances to plan strategies, make contingency plans for potential downturns and obtain transparency on their cash flow on multiple levels.
Professionals who own CA firms in Pune report that their clients have come to lean on them like never before for information that goes well beyond the ordinary “bean counting” that was the norm a decade or two ago.
The best chartered accountants take on the role of “business consultants” who look below the surface of the numbers to determine what is causing a firm to thrive and also pinpoint areas where profits or productivity might be lagging.
Another significant trend reported by CA firms in Pune are clients who are eager to upgrade their accounting information technologically using the latest software applications. The old days of paper spreadsheets are well behind us. For example, to stay nimble, a business owner may want to send key financial information to a banker instantly and electronically. Super-secure, high-tech systems are a must to handle these kinds of transactions properly.
