6 Best Software Technologies for Work from Home for Professionals

In second wave of Covid, everyone is again forced to work from Home and at such time, softwares make life of professionals so much easy at the same time keeping efficiency at higher level. Make sure you are using these softwares so that your practice is not affected due to Covid.

Work From Home is a new reality

- It is said if Financial and Tax Consultants wont prepare themselves to provide online service to their clients, such professionals will be out of business soon.

1. Fyle

An accounting software specially designed for the automation. It makes human interaction redundant by use of Artificial Intelligence. The application software helps to convert every scanned copy of the bill the accountant receives, into an automatic journal entry in the accounting software. The human interaction is needed only to confirm whether the entry is passed correctly or not. For e.g. A bill is received by an accountant in the form of scanned copy, the software will scan the bill and automatically debit Purchase account and credit Creditor account along with recording Invoice number,date and narration.

2. PracticeGuru

Offered Free of cost, this is the Best Practice Management Software available in the market. It helps professionals like CAs, CSs, CMAs, Tax and GST Professionals to manage 1. clients, 2. employees and 3. works in most efficient way. It provides Dashboard and Analysis reports which helps to get maximum profts with no stress for owners. There are different types of users like Owner, Manager, Emplyees, Accountant and Sales and each of these users have different access rights and function. It helps to run practice on auto mode freeing owner to focus on important functions like networking and sales.

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3. FireFlies AI

Documentary evidence is always preferred over verbal in audit assignments, wherein such applications come in picture. This tool transcribes the call records into written document to form a formal record of the meetings or decision taken over the call.

4. Digital Competency Maturity Model Version 2.0

Crafted by the Institute of Chartered Accountants of India for its fellow members. It enables their firms to rate their current level of maturity on digital competency. Identify areas where competencies are strong or lacking, and then develop a road map for achieving a higher level of maturity. This includes two sections namely – Section A: Level of Automation of Firm's Internal Processes - This Section covers extent of usage of IT by the firm for its own internal processes for example, billing, document management, client relationship management, and staff attendance and work tracking, cyber security, compliance with data protection regulation and social media presence Section B: Availability of Qualified Resource Pool and Talent Development Relating to Digital Competencies - This Section covers aspects like attracting, retaining and developing staff with requisite qualifications and skills.

5. POWER BI by Microsoft

It allows organization to present the data in chart forms. It shares meaningful insights with hundreds of data visualizations, built-in AI capabilities, tight Excel integration, and prebuilt and custom data connectors along with keeping your data secure with industry-leading data security capabilities including sensitivity labeling, end-to-end encryption, and real-time access monitoring.

6. PERIFIOS

The application software which is offered at almost free of cost or priced at very lower costs forms an integral link between consultants and the clients. The application software collects the data for the consultant which the clients hesitate to provide through artificial intelligence. It can automatically fetch transactions from those financial institutions that support electronic/online transactions and store transaction data in an electronic format. It mostly helps during the time of Income Tax returns filling as the client does not have a complete knowledge of the transactions what the consultant demands, Perifios helps to fetch data directly from the Banks or any financial institutions.

THIS APPLICATION SOFTWARES ARE DESIGNED TO REDUCE CLERICAL WORKS AND THE SKILLS OF THE PROFESSIONALS BE RATHER USED IN ANALYSIS AND PROVIDING SOLUTIONS. Please comment and tell us which softwares out of above, you are planning to implement in your office.

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