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Harnessing Technology in CA Firms
Men have become the tools of their tools.
Henry David Thoreau
Prashanth K LPartnerGuru and JanaChartered AccountantsGURU & JANA 1
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Enjoying the sights
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A visit to the museum
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Having a conversation with Best Friend
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Out on an intimate date
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Having dinner out with friends
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Cheering on team
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A day at the beach
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The day that Albert Einsteinfeared, hasarrived
Having coffee with friends.
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Then Now
People dependent earlier, now system dependent
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Why do we need Technology solutions in our offices:
Effective and economy at work Profitability is important Quality of Professionalism needs to be measured Time is precious, we do not have 28 Hours day Solution should suit our entity Marry a solution not the technology A pretty girl and a Kind woman – Science and Culture
MNC Firms have global standardization, it is not just in logo but in working too
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Major issues in Our offices
Management
Clients related
Partners issues
Employee issues
Minor Issues –Administrative problems
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Management problems:• Partner is involved in routine operations
• Repetitive jobs do not need instructions
• Team wise & employee wise profitability
• Who will monitor recurring work?
• Time sheet and resource
allocation
• Client profitability
Employees issues:-• I want to follow good systems but it is all
human dependent
• Senior to review the files
• No instructions for me
• Searching of files
Clients issues:•We have not got it on time
•What is the progress of work
•Which is correct data, mine or yours
• Don’t change your staff
•You do not give me timeAdministrative issues:
• Billings • Back up time • Servers & Maintenance
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Papilio – Solution
VISIBILITY
PROCESS
PEOPLEDOCUMENTS
COMMUNICATION
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Audit Evidence:-Proof of the pudding is the pudding itself
Started in 2003, we are 200 + Saved over 14% in Capex Have seen a growth of over 40% every year [2010/11] Saved over 11% on man power cost Manpower attrition is less than 5% We would be 700 in a few years, and at that stage we still are small We do go home at 6.30 I did not have to prepare for this presentation for over 2 hours I positively go for 3 holidays a year One minute Program
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Challenges in implementation
Only Cut off method of website method
Management buy in
What is in it for me ? An employee asks
Seminar and fun at work – to implement
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I am doing all work, increments
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Recurring work instructions
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Seniors don’t instruct me
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Documentation & Peer Review
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Time Sheet
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Monitor my work?
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What do we get?
License to use software Space in the cloud in Amazon Server Space in the disaster recovery mechanism Software updates & Maintenance It has gone down for 20 minutes in the past 3 years No implementation cost Auto Back up on periodic basis Source code in Escrow account with a large CA firm in Bangalore Multiple reports
- Resource utilization report- Billing- Search menu like Google
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Introduction to ViVid If you cannot beat them go the other way
Presentations need cost, time and effort which should be budgeted in the cost of fees
It is a cost of over heads
Vivid would take care of presentations by giving :
E Book A total picture of work done Complete set of documentation Work done is not just a net worth certificate, it
includes a host of data
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ViViD helps you reducing the hassles in managing multiple documents by merging them in a way you wish! You can add a cover page in a format you want, include an appendix with instructions you want to give to your clients along with pointers to text strings on pages. It provides you an auto generated Table of
Contents for easy reference. It provides a Signature Scheduler and most
important it is still Version 1 of the plan.
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Upload Files
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Job History
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Final deliverable
It can be a link on the web
It could be a magazine type of document
It could be a PDF in an organized file
Page numbers are auto generated, by removing page numbers
Word, PDF, Excel, Word, DBF, TXT, PPT all can be a continuous series of documents
Work done should be work seen
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Content The largest asset is the work force
People do not have a work life balance
Entertainment, community and other interests
How many of us want to learn photo graph or music or organize a pot luck dinner at office
WE have blood donation clubs, tennis clubs, Suduko clubs, and the community is becoming stronger
We achieve a good retention of man power in this method
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Treetle helps you Connect with others in your neighbourhood who share your interests so you can together plan and Do the things you like.
Treetle facilitates interaction between people with similar interests through the creation and organization of Clubs and dissemination of information about Events posted to those Clubs. Treetle Website provides you, the User, with a number of resources that enable the above activities ("Services"). It delivers a safe and enjoyable user-experience.
It has been a good Brand building tool for Guru & Jana
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It costs nothing.
It builds a superb community in the office.
We right now have 6 clubs in the office.
We have people express interest like cricket, IFRS club etc.
God forbid – we do not have a “Smokers club”
Our HR Department tells it has brought people much closer.
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Content
Introduction
Tour to SugarSync, there are a million applications like this.
How is it useful
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SAAS - Model
Software as a service, sometimes referred to as "on-demand software", is a software delivery model in which software and associated data are centrally hosted on the cloud. SaaS is typically accessed by users using a thin client via a web browser.SaaS has become a common delivery model for many business applications, including accounting, collaboration, customer relationship management (CRM), management information systems (MIS), enterprise resource planning (ERP), invoicing, human resource management (HRM), content management (CM) and service desk management. SaaS has been incorporated into the strategy of all leading enterprise software companies. One of the biggest selling points for these companies is the potential to reduce IT support costs by outsourcing hardware and software maintenance and support to the SaaS provider.
CLOUD OMPUTING
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PAAS Model
Platform as a service (PaaS) is a category of cloud computing services that provide a computing platform and a solution stack as a service. Along with software as a service(SaaS) and infrastructure as a service (IaaS), it is a service model of cloud computing. In this model, the consumer creates the software using tools and/or libraries from the provider. The consumer also controls software deployment and configuration settings. The provider provides the networks, servers, storage and other services.
PaaS offerings facilitate the deployment of applications without the cost and complexity of buying and managing the underlying hardware and software and provisioning hosting capabilities.There are various types of PaaS vendor; however, all offer application hosting and a deployment environment, along with various integrated services. Services offer varying levels of scalability and maintenance.
CLOUD COMPUTING
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Cloud uses SAAS, PAAS and Infrastructure as service
Pay as you use
Agility, cost, device & Location independent
Reliability and scalability
Security and Sustainability
Cheap and many areas it is free too, example up to 100GB free data is available
300 Users atGoogle for email applications is a free service, 10GB per user is 3000 GB free
and clear service.
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SugarSync is a free service that helps you sync your life. With a simple download on your computers and mobile devices, you have access to all the Cloud has to offer.
Using SugarSync's powerful Cloud technology, you can easily access, sync and share all of your documents, photos, music and movies across all of your computers and mobile devices.SugarSync puts all your stuff at your fingertips from any other computer or mobile device, enabling you to do more with your stuff while on the go.
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WhatsApp Messenger:Helps you to communicate your group in faster and easy way
Skype application will help you do video calling from your mobile
Board documentation:Board minutes, share holder minutes, registers, member certificate all automated with a click of a button
Foldersync:Foldersync enables easy sync of files between cloud storage and Andriod Device
Tethering and Portable hotspot:You need not carry the internet Dongle if you have this application in your mobile.With this you can create the internet Wi-Fi hotspot, and you can give internet connection to many devices. WhosCall has
helped millions of people recognizing unidentified calls. WhosCall guarantees you a FREE service!
Take a photo of the visiting card and store on the web for free
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Embrace technology
Should technology be essential for survival or is it a differentiator
Taxcorp for Cas
FX software – Assurance done on this software
Ya esa supteshu Jagarti – Use of Technology – It is a wakeup call
I pad Covered Cases mail came during a hearing – case resolved
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Harnessing technology for CAs is like harnessing potential of Africa
Inexpensive freewares are available but serious technology is expensive, Create capital to invest in technology Only Big 4 and Desi Big firms can afford this Smaller firms should consolidate – bigger firms may be formed or networks to be made, ICAI to allow lot of things still. For instance group bidding in network not allowed Bring intellectual capital to compete If you are not big, lets create them. BSNL fixes 100 crores turnover for bidding for
assurances work GJ as a differentiator – earlier and now
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THANK YOU
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