'Digital world in 10 years'
Published on: Tuesday, May 17, 2016
Kota Kinabalu: Honesty Enterprise Keris Award-winning George Lim foresees a digital world in the next ten years. He said this emerging trend takes into consideration the changes in the global market, and is great news for Gen Y and Z as they are mobile-savvy generations."In the next 10 years, the focus is more on customer service and less on internal middle management in giving way to automation ultimately. We have no choice but to adapt to the new business environment," he said after receiving the award from Deputy Finance Minister, Dato' Chua Tee Yong at the 14th Asia-Pacific International Honesty Enterprise-Keris Award 2016.
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Lim, who is the CEO cum Founder of G&A Group of Companies, said cloud accounting software (or cloud accounting solution) is increasingly becoming the "in" thing for modern business because it is ideal for small businesses.For this reason, he acquired the KL-based G&A Digital Sdn Bhd to expand the Group's product range and to leverage on the strength of technology."Cloud accounting is exactly what it sounds like. Instead of having all your accounting information on paper in your office or stored digitally on your computer hard drive, cloud accounting means storing your accounting information 'in the cloud'. In other words, the information is stored on a server that will still be around even if your office gets flooded or your computer dies," he explained, adding that protecting your files from damage or loss is one of the many benefits of cloud accounting.
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On top of it, cloud accounting is mobile-friendly, Lim said, "in the sense that when you make the switch to cloud accounting, your accounting system works right alongside you".You can send an invoice to clients from your cell phone without worrying about whether your software is compatible with their software, according to Lim. "Which means you are able to bill clients more accurately, more timely, and more efficiently."
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Currently, he is promoting cloud accounting software in East Malaysia as the concept is relatively new."This type of software is designed to help your business save time. It allows detailed tracking of your company's financial transactions. That means you can organise and manage your finances in the cloud, 24 hours, anytime, anywhere."Traditionally, the computer server is installed at the office premises but now we can rent a server and storage space (for data) in a third-party data centre," he pointed out.Literally speaking, with the latest scenario, Lim said, there is no need for a physical office as you don't have to invest in computer hardware and IT staff. "Yet you can say the office never closes because you now have a mobile office, thanks to Xero Cloud Accounting Software."As it is, Xero is a small business accounting software that is simple, smart and can be operated using Smartphone, he said. "Do you know Xero can be logged on through Smartphone 24 hours, anytime, anywhere to do accounting? By the same token, you can get a real-time view of your financial statements, debtor's outstanding due and cash flow position in the bank."In addition, Xero is user-friendly with simple terminology which makes it easy for people with little to no accounting knowledge to maintain proper bookkeeping.Stay up-to-date by following Daily Express’s Telegram channel.
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