The evolution of industries is inevitable. Accounting as an old social science is no exception to the rule. From slate to paper, from complex spreadsheets to simplified software, this transition is based on improving the access and order of business’s financial information.Learn About Accounting Software
The approach, which involves using software and other technological tools for accounting, allows companies to capture financial transactions and update their records in real-time, as opposed to the traditional batch processing method. This way, the concept of Real-Time Accounting arises as a modern method where financial data is recorded and processed as it occurs, providing up-to-date and accurate financial information at any given moment and benefiting businesses thanks to:
- Improved financial visibility and control;
- Faster decision-making;
- Better compliance with accounting standards and regulations;
- Developing the habit and ability to monitor financial performance and identify growth opportunities.
Furthermore, the modern approach is particularly useful for businesses with complex financial operations and can help streamline accounting processes, reduce errors and inaccuracies, and improve overall financial performance.
Odoo is a comprehensive business management software with a standout feature of real-time accounting functionality. This adds incredible value to users, allowing them to rely upon the accuracy and timeliness of the financial data to guide their actions. These are some of the reasons for the partnership between Odoo and KPMG.Discover Odoo Accounting Features
KPMG - Who are they?
KPMG is one of the “Big 4” accounting firms, being recognised as a large and prestigious company in the industry. Formed in 1987 from the merger of Peat Marwick International and Klynveld Main Goerdeler, KPMG offers professional audit, tax, and advisory services to clients worldwide.
KPMG and Odoo: The Foundation of the alliance
The relationship between Odoo and KPMG was born from the common traits of both companies, specifically regarding their values. Both companies regulate their decisions by trying to stay as much updated as possible, hoping new techniques could help their business be more efficient and provide better solutions to their respective customers.
Seeing this, KPMG chose Odoo because of:
- Odoo’s innovative software level, which has proven its self-reinvention
- The new features integration nature, which will help shape KPMG’s future the way it chooses to
3 Major Benefits of the Alliance
On the one hand, KPMG benefits from this alliance because Odoo provides a platform to deploy the digital tools accountants need to develop their profession, keeping it up to date with modern requirements. The integrated apps that Odoo presents can also help keep business reports easier to follow and automate tasks that could burden a company’s entire finance team.
Best of Both
No better way to understand the benefits of this teaming up for KMPG than the words of its Head of Tax, Legal and Accountancy, Wim Van den Brande.
“We have combined KPMG’s experience and trusted expertise with Odoo’s groundbreaking technology to help clients and prospects simplify their business operations, including real-time accounting that is available anytime, anywhere. Together, KPMG and Odoo are poised to revolutionize modern accounting like no other.”
On the other hand, Odoo also takes advantage of this partnership because KPMG can provide expertise to Odoo users during the implementation of the accounting software and contribute to the development of the Accounting module of Odoo.
Reputation by Association
Also, by being in partnership with a market leader such as KPMG, Odoo’s features can be recognized as being on par with global standards. This shows potential customers they can trust Odoo as a software and as a company to help reach goals in the way you want.Odoo Support for Business Needs
How can Your Company Benefit?
With Odoo, your company can stay up to date with the latest technical advances in the accounting world, meaning every effort is made in terms of efficiency, allowing for better resource management.
Here at ERPGap, we can provide your company the necessary assistance to bridge the gap into Odoo so business can flow freely without burdening your finance team with unnecessary tasks. Furthermore, with the possibility of customization, let’s work together to improve outcomes and get business done YOUR way.Book a Consultation