There are many jokes about missing deadlines. Here’s one: “I'm reading a book about meeting deadlines – I should have finished it a week ago.”
How about this: “Why did the chef miss his deadline? – He ran out of thyme.”
Amusing, yes, but for businesses and their accountants, missing deadlines is not a joking matter. The explosion of technology and digital data puts many challenges in the path of SMEs.
Deadlines are a part of every accountant's job, but with accountancy evolving more into advisory roles, many traditional tasks are now being outsourced.
Outsourcing can also help with hitting those all-important deadlines with tasks like tax filing deadlines, quarterly and annual financial report deadlines, and deadlines imposed by clients who need financial information by a set time.
Bespoke deadline tracking technology can help prevent accountants from tearing their hair out by helping to manage their workload.
It can also help as businesses strive to attract the talent needed for an evolving profession.
A move to address this has been launched by the global body for professional accountants ACCA (the Association of Chartered Certified Accountants) and the International Baccalaureate organisation (IB). They have signed a Memorandum of Understanding (MOU) that creates a pathway programme for IB students towards a professional accountancy career.
ACCA’s diploma covers a wide variety of business and finance subjects, including technology and digitalisation, alongside core financial and management accounting subjects.
Accelerated pathway into accountancy
The IB is a non-profit foundation that offers four educational programmes for students. In the UK, it is studied mainly by young people in years 12 and 13 as an alternative to A levels.
Accountants will benefit from this new talent ready gradually coming on stream and stepping up to the plate as the profession moves forward to a more advisory and consultative role.
That does not mean that traditional tasks like compliance are overlooked and that’s where deadlines become ever more critical, and automation of tasks plays a clear role in improving efficiency.
Keeping pace with fast-moving environments and supplying solutions to hitting deadlines and improved efficiency are outsourcing experts who can unburden businesses of some of the more mundane tasks with the use of clever interactive technology.
Deadline Tracker is pretty much a unique development in the market, automatically managing your deadlines and workflow by showing tasks in the order of priority that they should be worked on (overdue, warned, in progress and upcoming) in a kind of traffic light system.
It allows you to quickly and easily see when you can actually work on a deadline and not just focus on the due date. Deadlines will never creep up on you again. No joke!
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