The digital has revolutionized Accounting, making processes more efficient, secure, and precise. Thus, digitalization is not just a trend, but a necessity for all players and companies in this sector looking to continue to assert themselves in the market.
Business Voice spoke with Daniel da Rocha Cardoso, Accounting & Management Consultant at FA ACCOUNTING & MANAGEMENT, who discussed the brand’s commitment to innovation and digitalization in more detail.
With around five years of activity, FA ACCOUNTING & MANAGEMENT has been accumulating experience and recognition in the market, a result of its responsiveness and excellent services. To give our readers an insight, how does the brand position itself as a significant player in the market?
FA ACCOUNTING & MANAGEMENT has established itself as a significant player in the accounting and financial management market in Portugal through its innovative and customer-oriented approach. With a highly qualified team and a continuous commitment to excellence, we are able to offer solutions tailored to the specific needs of each company.
Our differential lies in the combination of advanced technology and personalized service, allowing not only rigorous compliance with tax obligations but also strategic support for optimizing the financial management of our clients. Furthermore, our rapid and efficient response capacity contributes to close and trusting support.
Addressing the digital aspect, how has FA ACCOUNTING & MANAGEMENT been investing in this more technological dynamic, and what impact has this had on the brand’s structure in terms of the response given to its clients?
Digitalization has been one of our strategic pillars, allowing us to modernize processes and increase efficiency in the provision of our services. We strongly invest in cloud-based accounting systems, ensuring real-time access to financial data, task automation, and integration with invoicing and management software.
The adoption of these technologies has enabled a significant reduction in processing time and greater transparency in communication with clients. Additionally, we can offer closer support, eliminating geographical barriers and allowing for faster and more effective assistance.
In your opinion, what has been the impact of digital accounting on the modernization of companies in Portugal, especially regarding financial efficiency and transparency?
Digital accounting has played a fundamental role in the modernization of companies, driving more efficient and transparent financial management. Digitalization allows companies to have rigorous control over their accounts, reducing human errors and ensuring greater fiscal compliance.
With access to real-time financial data, managers can make more informed and strategic decisions, optimizing their resources and anticipating financial challenges. Furthermore, digitalization facilitates audits and improves companies’ relationships with regulatory entities, ensuring greater trust and credibility in the market.
Which are the main advantages of digital accounting, especially for small and medium-sized enterprises (SMEs) in Portugal, and how can they make the most of new technologies?
For SMEs, digital accounting offers significant advantages, such as:
- Reduced operating costs by eliminating manual bureaucratic processes;
- Greater transparency and fiscal rigor, ensuring compliance with deadlines and obligations;
- Remote and flexible access to accounting information, allowing for more agile management;
- Automation of financial processes, increasing efficiency and productivity.
To make the most of these advantages, SMEs should invest in cloud-based accounting software, integrate their invoicing systems, and seek specialized accounting partners that offer efficient digital support.
How has digital accounting contributed to the automation and efficiency of companies’ financial management, and what are the main security risks associated with the digitalization of accounting data?
The automation of accounting has eliminated many repetitive tasks, allowing managers and accountants to focus on strategic analysis. However, digitalization also brings cybersecurity challenges, such as the risk of unauthorized access and cyberattacks.
To mitigate these risks, companies should adopt measures such as data encryption, multi-factor authentication, and regular backups, ensuring the protection of their financial information.
What is the role of accountants and financial managers in ensuring the security of business data, and what kind of training or best practices should they adopt to avoid vulnerabilities?
Accountants play a crucial role in protecting business data, being responsible for ensuring good digital security practices, such as:
- Implementation of secure and updated software;
- Continuous training in cybersecurity and compliance;
- Monitoring access and rigorous internal controls.
Training in data protection legislation is also essential to ensure compliance with the GDPR and other applicable regulations.
How does this digital age also bring improvements to the Accounting profession?
Digitalization allows accountants to take on a more strategic role, moving away from focusing solely on manual processes to acting as financial consultants.
With access to digital tools, they can offer a more personalized service, supporting clients in making informed financial decisions and optimizing their tax structure.
Analyzing the Portuguese market, how has our country kept up with the evolution of digital accounting, and what measures should be implemented to encourage this transition?
Portugal has taken important steps in the digitalization of accounting, with initiatives such as mandatory electronic invoicing and automated tax reporting platforms.
However, there are still challenges, especially for SMEs facing technological barriers. It would be beneficial for the government to encourage this transition through subsidies for digitalization, specialized training, and the simplification of administrative processes.
What trends can we expect for the future of digital accounting in Portugal, and how can and should companies prepare for these changes?
Future trends include:
Artificial Intelligence and Machine Learning for predictive analysis; Total automation of tax obligations; Blockchain for data security and traceability. Companies should prepare by adopting innovative technologies and strengthening their digital security strategy.
What can we continue to expect from FA ACCOUNTING & MANAGEMENT regarding the digital aspect and the investment in technology, and what are the brand’s future challenges for 2025?
The challenges for 2025 include adapting to new tax regulations, strengthening digital security, and expanding the offering of technological services, ensuring that our clients benefit from modern and efficient financial management.
SOURCE: BUSINESS VOICE Magazine