How accounting firms are responding to Covid-19 crisis.

Coronavirus pandemic has forced many accounting firms to accelerate the implementation and utilisation of cloud computing, artificial intelligence and automation to cope with influx of works regardless of their sizes and physical locations. Some accountants are now well-prepared to manage the disruptions accompanied by COVID-19 but some are not. And firms have shifted their attention not only to digital service delivery and cyber security but also to keep employees engaged during Covid-19.

Meanwhile, as a result of Government stimulus packages, clients are in constant need of proactive communication and collaboration solutions during the lockdown. Virtual meetings such as app-based communications, therefore, have become increasingly popular. However, how to diminish redundant conversations with clients and ensure seamless digital communication between the staff to get accounting work done efficiently and effectively? This question needs to be addressed. From our observation, professional staff are still able to adapt, maintain and improve their productivity while working from home. Many business leaders are even more convinced about the productivity gains achieved. Having said that, those firms have invested a lot in wellbeing initiatives of their remote employees.

Demand for qualified accountants has risen during the pandemic and has so far unmet. Accounting firms are actively looking for alternatives such as outsourcing their works.

VietOS is a leading outsourcing provider for Australian accounting firms. Talk to us today about how we can assist you with our tailored outsourcing solutions.