Stories from Practice

31 May 2021

Digitalising the accountancy profession: what role for young professionals? by Cyril Degrilart from CNCC and CSOEC France

Cyril Degrilart is a chartered accountant in Paris. He is an active member of our SME and Young Professional (YP) Networks, where he represents the French Institute of Statutory Auditors and the Order of Certified Accountants. He reflects upon SME digitalisation and young accountants’ role in shaping the future of the profession.

Cyril will be sharing his insights on how accountants can help SMEs in the path towards digitalisation in our 16 June webinar Road to digital: How to support SMEs. Register now!


An innovating accounting practice

I started my own accounting practice in Paris after graduation with one question in mind: how to ensure that SMEs get the same quality of advice as do larger companies? As a young accountant, the answer was almost self-evident to me – making the most of technology and putting it to the service of our SME clients.

 

Today, we are a 5-member team in a digitalised and connected practice. One of the key services we provide is organisational consulting to SMEs, especially for e-businesses and service companies. Our end goal is to help smaller businesses build their strategy more efficiently.

 


Understand the numbers to make better decisions

Accrual accounting can be extremely relevant for SMEs, especially in solvency analysis, linked with a precise cash forecast analysis. We analyse our clients’ data such as profit and loss, cash forecasts and solvency, and then transform and visualise them into understandable, user-friendly information. Making numbers more meaningful and accessible for SMEs is key for them to make better business decisions.

Data analysis and visualisation should become mainstream instruments for all accounting practices. To set up a business strategy, SMEs need smart and comprehensible key performance indicators (KPIs). We analyse their data and then communicate KPIs through graphs and visuals. These tools allow SMEs to better understand their performance, access up-to-date information about their business and improve decision-making. Digitalisation and cutting-edge technologies truly help SMEs manage their own business more effectively.

 


Channel technological advancements to strengthen SMEs

The Covid crisis has emphasised the need for SMEs to digitalise. For example, by reinforcing internal procedures and controls to secure financial processes and limit risks, helping businesses go from offline to online, implementing new ways to record cash flow, advising on e-business VAT. These actions are part of an e-business strategy connected to our accounting role.

 

 


Accountancy Europe Young Professionals (YP) network

The YP network is a wonderful platform that gives a voice to young European accountants. It is a unique opportunity to share best practices with my fellow European colleagues. We compare experiences to learn from each other, which is needed to stimulate innovation. We are looking forward to providing our expertise to shape the future of the profession.

 

 

Connect with the author on LinkedIn 

Related content

Publication5-step starting guide to a sustainable transition for SMEs

5 September 2023

UpdateSME Update

14 July 2023

Stories from practiceInsight from SME accountants: how to improve SMEs’ access to green finance

5 July 2023

Consultation responseIASB’s exposure draft on amendments to the classification and measurement of financial instruments and EFRAG’s...

3 July 2023

UpdateSME Update

20 June 2023

EventMembers only: New EU AML rules – What changes for accountants?

24 May 2023

EventTowards digital corporate reporting with CSRD

16 May 2023

UpdateSME Update

15 May 2023

NewsAccountancy Europe joins EU Green Week 2023

26 April 2023

NewsAccountancy Europe calls for an ambitious EU due diligence framework

26 April 2023

Consultation responseIAASB’s consultation on proposed International Standard on Auditing 500 (revised): audit evidence

24 April 2023

BlogBeyond the books: soft skills as important for accountants as technical knowledge

19 April 2023

PublicationVAT in the digital age – modernising the European VAT system

14 March 2023

UpdateSME Update

7 March 2023

EventReinforcing SMEs’ cyber resilience

28 February 2023

Stories from practiceInsight from SME accountants: kicking off the sustainability journey

27 February 2023

UpdateSME Update

20 January 2023

PublicationIndependent assurance on ESEF – the block tagging requirement

15 December 2022

PublicationFAQs: all you need to know about the Corporate Sustainability Reporting Directive

23 November 2022

UpdateSME Update

17 November 2022

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?