Using Technology to be More Productive

LedgersOnline recently presented to the Vancouver CGA Computer Users Group on the topic of Web-based Collaborative Accounting. Over a series of posts, we will highlight some of the key aspects of using web-based tools to become more productive.

Just think at the last five years. How many business processes have been improved by proper use of technology? Imagine running a business today without technology. Emails help you to communicate with suppliers and clients. Websites give your prospective customers a fresh source of information. With electronic calendars you can tell at a glance whether a co-worker is available, send him your invitation and receive a confirmation in less than five minutes.The efficiency of financial processes has been improved as well. Electronic banking is common now, and with electronic bookkeeping you are able to easily reconcile bank accounts, keep track of cash flow and analyze the financial health of your business. But the ultimate innovations in web and communication technology, such as Social Networking Tools or Software as a Service (SaaS) do even more.

SaaS is a software deployment model where an application is licensed for use as a service provided to customers on demand. The software is hosted by the provider, while the user access to the application through the web whenever he needs to use it. He does not need to buy and install a software package on his computer: he just pays a subscription to the vendor. SaaS solutions are employed in conjunction with social networking tools to allow individuals not only to work remotely, but also to collaborate with others while they are working on the same problem. This is what we call Web-based Collaborative Accounting.