Tech Talk: Edward Corrigan from Corrigan Associates
Welcome to Tech Talk, a monthly catch-up with an accountant in practice to find out more about their experience with technology and the effect that technological changes have had on the industry over the years.
Today we are joined by Edward Corrigan, founding partner of Corrigan Associates, a practice located in the heart of Bristol. Edward shares his thoughts on streamlining the entire data processing system as well as the changing skillset required from an accountant.
Edward, how has the technology you use in your firm changed since you started out?
We use a lot more cloud based products; the accounting processes are now more automated. We use Xero and there are a number of apps that operate with it. We’re using those particularly around data capture in order to streamline the bookkeeping process.
Can you tell us more about the tech set up within your practice?
We also use Digita, we converted from another well-known provider to Digita about a year ago and we’ve now got a much better integrated CRM than before. We are now making the most of the fact that we have an integrated plan and contacts database. It makes communicating with our clients much more efficient.
What three considerations did you make when choosing the technology for your practice?
We wanted it to have a single point of entry, to make the data capture as easy as possible. We also considered the interface; we wanted it to be intuitive and clear. And we were also looking for a robust system with a well-established user base and one that we could be confident would be well maintained.
What are your favourite technology products at work and at home and why?
I really like WhatsApp, we all use it a lot. At work we really like Receipt Bank, which is a way of scanning invoices and it creates an automatic accounting entry. It uses artificial intelligence to create an image into data. It is a very clever solution.
Are there any everyday accountancy problems you think could be solved with technology in the future?
I think we are going to move to a much more streamlined accounting system with less human input, so there’ll be much more electronic data capturing and processing. The skills the accountants need will be managing that process instead of processing the data directly.
Can you tell me about a recent project or process that you made better, faster, smarter or more efficient?
For a web retailer we managed to convert their sales data from their on-line payments system and input it directly to their accounting system which they hadn’t been able to do previously without a level of manual intervention.
If you liked this piece, take a look at what Mark Broadhead has to say about the tech set up within his practice Broadhead Accountants. He discusses how he has improved the workflow across his practice over the years, as well as the ever-popular drive towards achieving a paperless office.