Introducing Sze, our new Partner Manager
Read what Sze has to say about accounting as a current Master student & her experience at Expense Check so far!
‘In an era of rapid technological advancements, it is no surprise the accounting and bookkeeping industry have undergone massive changes in the last 5–10 years. For professionals who have been in the industry for years, the automation of accounting over the last decade may have been seen as an initial threat. Yet, the shift in the role of bookkeeping and accounting has lead to the opening up of areas of business that were traditionally excluded including advisory services, decision making and risk-management. Tasks that may have once taken an entire day to finalise can be completed in a matter of hours and even minutes with the help of accounting software. Not only does this allow a quicker turnover time to generate key information and reports, it enables businesses to make faster decisions which may be crucial for continued liquidity, growth, and profitability.
As a master of accounting student in 2016, it has become apparent to me that in actuality, only half my cohort at university are aiming to become accountants. Strange it may seem but this is a first-hand insight into the current status of the industry with individuals increasingly expressing the desire for accounting knowledge for use in advisory roles. Being a part of the industry at the relatively young stages of its contemporary era is certainly exciting if not a little nerve-racking. Accounting trends this year has seen accounting software platforms increasingly move towards a cloud based operating system, further increasing accessibility between accountants/bookkeepers and their clients. Continuously improved and advanced means of managing business spendings through technology has also been apparent throughout the year with the rise in software such as optical character recognition.
Expense Check has not only given me a first-hand insight and a current snapshot of the start-up industry, it has shattered expectations businesses within or associated to accounting are rigid with no room for creativity. With many other life decisions, I find there is often one individual (or multiple) who tend to be your influence to pursue certain goals. I vividly remember the first question my lecturer posed during the first ever accounting class I took at university.
“What is accounting?”
In a room full of students who had zero to very basic accounting knowledge, answers varied from ‘the balance sheet’ to ‘managing business expenses’ — all of which we were told are correct but unfortunately failed to touch on the essence of what accounting really is. He then replied with a very simple answer:
“Accounting is a tool we use to help people make more informed decisions.”
That has continued to resonate with me over the duration of my degree and coincidentally is exactly what Expense Check stand for as a business. A hassle-free analysis tool that can be seamlessly integrated with accounting software Xero, designed with the goal of helping small businesses save money by continuously ensuring they are on the best deals. It is companies like Expense Check that are driving the revolutionary changes within the accounting industry, creating greater diversity in practice across organisations for accountants, bookkeepers and their clients. I am incredibly excited to be part of such a diverse, driven team and am looking forward to also bring perspectives from my psychology undergraduate background on board to see how I can help drive the continuous growth of Expense Check.’
