Technology is having a transformative effect on the service industry all over the world. The service industry’s trends for B2B (business to business) and B2C (business to consumer) services have been rapidly changing. Financial and business services are one of the most vibrant examples of a service sector that has embraced technology and taken their business to a new level of innovation and quality.
After the invention of Enterprise Resource Planning software, financial services and analysis process has expedited. Enterprise Resource Planning software enables the professional accountants to access and edit information anytime and from anywhere. The integrated information generated by the Enterprise Resource Planning about the client framework allows more reliable, cost effective, and reliant research for the company, allowing our clients to use the information we provide for accurate and better decision making.
Accountants’ fees in London are that at an alarming rate, owing primarily to the sudden rise in the operating costs needed to operate a financial services company in the heart of the city. The company was unable to charge an affordable fee for the services given to their clients due to high costs, which ultimately hampered the culture of obtaining professional assistance and specialist consultancy for business-related issues. Technology has been very persistent in resolving this dilemma. Many professional chartered accountants have established their financial services firm in the distant locations, out of the country in most cases, to the places where operational costs and employee salaries are relatively low and it enables the firm to provide valued services to their valuable clients. These financial service firms are linked to their clients through the use of technology, allowing them to provide their financial services across the United Kingdom, especially in the heart of central London, where local financial service firms are too expensive for small business accounting owners who need financial consultancy but cannot afford it.
Recently, an online bookkeeping financial service has emerged. Accounting companies located outside of borders can now bookkeep financial transactions correctly and on schedule thanks to online access to bank statements and Enterprise Resource Planning tools. Accounting transactions are carefully recorded and presented in the financial statements in an economical and effective manner.
Many means of communication, such as video conferencing, mobile video calls, and apps like Skype, have made it possible for clients to communicate with their specialist business advisors regardless of their actual global location. Now, business owners can make a face-to-face appointment from anywhere in the world and obtain the best possible solution to a problem found in the business.
Ever since the dawn of modern era, internet has turned this world into an economic global village. Since the world is open for competition their virtual world, the quality and price of the services being provided are getting better and better with every passing day. New competitors with new ideas are raising the bar of standard for the service providing industry regardless of their size and nature of business. This desire to succeed and excel in order to achieve the greatest possible share of the market creates a sense of improvement, which benefits both the organisation and its customers because services are then delivered at a reasonable cost and of exceptional quality. In short, the architecture of the service sector, like that of other business sectors, has been fully reengineered by technology.
For more information about how our tools and technology at Finchley Business Services can help your business, get in contact today call: 0204 526 5195 or drop us a line hello@finchleybusiness.co.uk
