Productivity also influences the price of accounting services

Details

Whenever we discuss the prices of accounting services, we must never exclude considering efficiency. If someone offers services at a lower price, the reason might also be that they are more cost-effective.

Since at this point, many might be rolling their eyes, I'll still write that according to economic theory, technological changes shift the production function upwards. Specifically, this means that accounting services that harness technological progress with the same costs (inputs) generate more (output). However, at this juncture, I should also note that the cause for price dumping, in addition to technological costs, often lies in unfair competition. Unfortunately, each responsible accountant can't do much about the latter. If they wish to maintain an appropriate level of quality, it naturally involves professionalism, investment in employees, adherence to standards and regulations, etc.

So, in essence, it remains primarily about increasing efficiency. The good news is that technology can be turned to one's advantage.

At DigiAce, we've been diligently working precisely in these directions – to provide an even better solution and enable greater automation and efficiency in posting modern payment and other transaction solutions (Fintech) that entrepreneurs love to use... you know, like PayPal, Revolut, Wise, and other providers.

Automatic Statement Import and Integration

Currently, DigiAce already supports around 20 different payment providers. For some of the most common ones, we've even developed PRO variants. With the latter, our solution directly integrates with the fintech provider, and your accounting service then receives statements directly into the accounting software.

And at this point, we can already list 7 aspects of efficiency that make you more competitive:

  • You completely avoid manual processing and transcription,
  • Transactions and all data are absolutely accurate, without errors,
  • You avoid time-consuming corrections and final amount verifications,
  • Data is well-organized, with descriptions and everything you're used to from traditional banks,
  • Based on user data, time savings range between 70-80%,
  • The system operates continuously, without absences, vacations, or sick leave,
  • The cost per 1 document (or 1 transaction) is negligible compared to the labor cost that would be incurred with this processing.

So – even the basic DigiAce modules allow for significant savings. With our PRO modules, the impact is even more noticeable. Find out how much time and money it can save you – a fully functional 14-day free trial is available for you to try!

The development of DigiAce is co-financed by the Republic of Slovenia and the European Union from the European Regional Development Fund.

The development of DigiAce is co-financed by the Republic of Slovenia and the European Union from the European Regional Development Fund, with a financial support of EUR 54,000 under the P2 2022 call.
The aim of DigiAce is to automate the import of statements and transactions when dealing with FinTech providers. This promotes the transition to digital and more efficient business operations and encourages the recruitment of high value-added staff.
Short description of the results of the operation:
The operation has developed, refined and commercialised a web application for the conversion of business data through FinTech providers and its direct import into accounting and ERP software. In addition, we have developed and integrated the Bankconnect module, which allows a significantly simplified direct retrieval of bank statements also from traditional banks. Within the project, we have prepared the basics for building an API interface for more modern integration with other applications. In addition, the project implemented a number of other solutions, such as integration with the CRM system, integration with the payment and subscription system (Stripe) and a multilingual website - including a back-end multilingual interface (application).