Revolution of Accounting


The accounting revolution is in full swing with a tsunami of technology bringing productivity efficiencies and gains and allowing business to have real time data to make real time decisions anywhere, anytime.

So what does the accounting journey look like: Let us share with you some highlights

• The stone age – stones were exchanged for goods and people kept track of their expenses by counting their
• Egyptian times – we moved to the wonderful device called the Abacus to help us count (it would be used a
children’s toy now)
• In 1883 the first cash register was patented – revolutionary to it’s core and helped businesses track
• We jump to the 1960’s where the first electronic calculator was born (and still used today and carried
with us every day through our smart phones). Together with the calculator, cashbooks, ledgers and
receipts were used prevalently in the mid to late 1900’s to account for sales and expenses
• The 1990’s and beyond saw desktop based computer software takeover and with it a huge lift in the in the
sophistication of businesses to be able them to prepare their own financial reports & BAS (with the help
of a bookkeeper or accountant of course)
• Which leads us from the year 2000 to now where a tsunami of technological change has brought us CLOUD
accounting technologies where businesses can use a cloud platform such as Xero (Beautiful Accounting
Software) and then ‘Add on’ to customise the full suite for their business including point of sale,
inventory, HR, receipts, management reporting, CRM and the list goes on.

Businesses are now able to create their own CLOUD ECOSYSTEMS to run their business efficiently and productively. These technologies enable:
1. Seamless integration so items are processed only once improving reliability
2. Automation removing the bulk of processing saving time
3. Cost efficiencies as you are only paying for what you need via a monthly subscription with little to no
hardware costs
4. Accessibility benefits as you can access your data anywhere, anytime in REAL TIME to enable you to make
real time DECISIONS.

What a revolution! Is your business keeping up with the technological changes? At CMS Strategic | Cloud Solutions we can help you. Why don’t you call us today.

CMS Private Advisory (Large)

The CMS Group

CMS Private Advisory partner with Halpin Wealth to provide financial advice.

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