Speed of New Digital Age
The 2020s will mark the dawn of a more enhanced technological data with the introduction of 5G networks and Wi-Fi 6; the former is expected to be 100x faster than the 4G networks, while the latter’s data transfer strength could be 3x faster than the previous protocol. We can expect more technological advancements to be coming our way to cater to the catalyzed reliance on technology brought about by the Covid-19 pandemic.
Real-time data sharing with virtually zero latency can be achieved very soon. As such, business operations have to match the pace at which technology is advancing, and unnecessary human intervention should be removed to maximize the benefits brought about.
3E Accounting Matching the Speed With Its R&D
3E Accounting, a locally-grown provider of secretarial services, accounting and other types of professional services of utmost quality, excels in keeping up with the sped-up pace of the new age with the development and integration of its high-end robots into its business operations. Robotic Process Automation (RPA) and Machine Learning (ML) technologies are being programmed into the robots to automate time-consuming, repetitive tasks to significantly shorten the time required to complete the tasks compared to when they are manually executed. For example, 3E Accounting is fully equipped to digitally process due diligence and paperwork for company incorporation under 1 hour from the norm of 2 days, and the Financial Report Robot is able to generate a complete set of a financial statement within 30 seconds when the average time spent doing so manually is 5 to 8 hours.
Benefits
By keeping up with the speed of the new digital age, 3E Accounting will always be at the forefront to embrace and integrate new technologies readily since it will simply have to build on the advanced technologies it has already utilized. Furthermore, the accelerated tasks achieved by technology will free up the accountants’ time and let them focus more on strategic activities, such as the generation of valuable insights from real-time business data, and provision of prescriptive business advice to clients to benefit them. Through this, 3E Accounting is able to distinguish itself in the industry by serving clients with the latest technologies efficiently and providing them with customized professional service beyond excellence.
Future Plans
3E Accounting will continue to meet the increasing speed at which everything is operating as technology advances rapidly. New robots that expedite accounting processes, such as the Tax Robot and Bookkeeping Robot, are scheduled to be launched in 2021 and 2022 respectively. Other upcoming projects include further harnessing of the RPA, digitization of physical documents, development of an improved chatbot whose responses are indistinguishable from a human’s etc. The 3E Accounting Secure Data Centre in the midst of completion will centralize shared IT operations and equipment to ensure that the storing, processing and dissemination of data can be executed seamlessly throughout the firm. Despite already investing $2 million into researching and developing automation robots and IT infrastructure, future investments will continue to be pumped into the Digital Research and Development (DR&D) team.
Conclusion
As a leading robotics accounting firm in Industry 4.0, 3E Accounting strives to uphold this honourable reputation and continue being a model company of the new digital age. It will forge ahead in the accounting and technology realms and explore opportunities for collaborations between employees and their robotic counterparts to keep up and stay relevant to changing times.
