top of page
  • Jordy Guillon

Understanding Digital Adoption

Image of the earth from space with text saying:Understanding Digital Adoption

Digital adoption is transforming how businesses operate, and the accounting industry is no exception. With the rise of digital solutions, companies can automate and streamline their accounting processes, leading to improved efficiency and cost savings. In this article, digital advisor Jordy Guillon and his team at Argento CPA provide an overview of digital adoption and its impact on accounting processes, and explain how businesses can stay ahead of the curve.

One of the most significant ways digital adoption affects accounting is through the use of accounting software. Tools like QuickBooks and Xero automate many accounting tasks, including bookkeeping, invoicing, and financial reporting. Additionally, these software programs include features that allow for collaboration between team members, improving communication and decision-making.

Digital payment solutions such as credit and debit cards, mobile payments, e-wallets, and online banking offer benefits to both businesses and customers, such as increased security, convenience, and speed of transactions. Digital payments can help businesses to process payments and transactions more quickly, securely, and efficiently, improving cash flow and reducing costs associated with handling cash and checks.

Receipt scanning and tracking is another area where digital solutions significantly impact accounting. Tools like Expensify and Dext can scan and track receipts, invoices, and bills, which can help automate the expense reporting process. Additionally, time tracking platforms like QuickBooks Time, Toggl, and Clockify can help businesses track employees' time on specific tasks, improve billing accuracy, and identify inefficiencies.

Business intelligence and analytics tools like Tableau, Power BI, or Looker can help businesses gain real-time insights into their business performance, identify areas for improvement, and make informed decisions. Online collaboration tools like Slack, Microsoft Teams, Google Workspace, and Trello allow for real-time messaging, project management, and file sharing, which can improve communication and increase productivity.

In Canada, the Canada Digital Adoption Program (CDAP) is a great place for businesses to start their digital adoption journey. CDAP provides funding, resources, and support to help businesses adopt and leverage digital solutions to improve their operations and grow their businesses. By understanding digital adoption and adopting digital solutions, businesses can stay ahead of the curve and gain a competitive advantage.

0 views0 comments


bottom of page