Tax & Accounting Blog

5 things to look for in tax technology

Accounting, Accounting Firms, Blog, Business Tax, cloud technology, Onvio cloud, Tax, Technology Companies April 7, 2019

Get ahead in the cloud. Businesses using cloud technology experience 53% faster revenue growth.

The Australian tax environment has never been more complex or competitive than it is today with 75% of businesses adopting new technology in the past 12 months to stay competitive.

The list of pressures facing accountants is mounting. This means changes are needed to; make workflow more efficient and productive, ensure compliance to keep out of the ATO spotlight, attract and retain high quality staff, and unlock time to future proof the business.

To achieve all this, technology is becoming a more necessary investment, and having the right technology is essential.

5 things to look for in tax technology:

  1. Compatibility: Don’t pay for what you don’t need. Find a product with features matching the tasks you most commonly perform.
  2. Accessible: A cloud based system will let you work anywhere, anytime from one source of real time data. This is more convenient, accurate and in line with customer expectations.
  3. Pricing Structure: Ask whether the cost is all inclusive, and watch out for additional fees that may be charged for each document lodgement.
  4. Efficiency: Look for how it can help you reduce billable time spent on repetitive and manual tasks. Unlock hours to grow and secure your business’ future.
  5. Reduced Risk: Ask about features to help you reduce errors and achieve compliance. Onvio’s Tax Audit Alert notifies you when clients may be exposing themselves to ATO scrutiny.

Find out more about cloud based tax software solutions including Onvio, which is specifically designed to help future proof and grow your business.