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Our insight

New Service Model
Financial Accounting Services Using Cloud Collaboration Platform

Trend Forecast in 20 Years

Most Entities will have:

No financial department

No accounting department

No HR department

No IT department

These departments will all be outsourced

This trend will start from distant subsidiaries then come back to parent companies

Most accountants and programmers work on the accounting outsourcing company

Its market size can be larger than the present Big 4

What Factors Push This Trend Happened ?

Big breakthrough on document digitalization technology

Scan an A4 paper from 900K down to be 25K

Network speed increased

Central server supported by Cloud Technology

Web-Banking function supported by almost all banks

Traditional Accounting Process Needs Restructuring

Traditional Accounting Process

Accountants are always the last ones know about transactions

Accountants always have to double key-in journal entries

Financial reports are rarely issued on time

Cashiers are always needed to be on site

New Accounting Process

Key in transactions on the spot- whoever, wherever, whenever transactions happened with- JE

recorded at the same time

Accountants pre-view applications to assure accounting code, managers approve

Financial reports can be generated instantly, except accrued adjustments

Parent company’s staff make payments remotely, through web-banking.

No need to entrust big and small chops to local cashier(which caused most fraud)

Quotations

Make someone else’s front room your back room and insist on getting their best. This is what

outsourcing is all about.

   Jack Welch (1936-), President of General Electric Company

Once companies begin to outsource, they never go back.

  Barry Lim (1948-),  President of Quanta Computer Inc.  

Conclusion

Accounting outsourced service using cloud collaboration platform can be a good and feasible new

service model.

In 20 years, most entities will tend to have no accountants, programmers; who may work for accounting outsourcing providers instead.