Business

Accountants Challenged on Embracing Technology

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Peter kahiigi, director E-government service at National Information Technology Authority, said as much as technology development is a good thing, it has come with so many risks

Ugandan accountants from different organizations have been asked to embrace the ever-changing technology as a way of making service delivery better for their clients.

Over 200 certified accountants who convened today at Imperial Royale in a workshop organized by Association of Chartered Certified Accountants (ACCA), a global body for professional accountants, were told to invest in technology to improve their financial service delivery or be out-competed by the upcoming financial agencies that are more flexible and willing to change at a slight development.

Innocent Wemesa, head of digital banking in Centenary Bank, said Uganda and the rest of the world are moving towards a cashless financial world where use of hard paper to buy or sell services and goods will completely be erased out hence the need for the banks and all the other accountants to swiftly move from the traditional way of offering services.

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“The world is changing tremendously. If you are not able to use the available technology to better your services, then you will be outcompeted. There are no longer kings in financing. The client wants a service that will be provided to him at his convenience,” Wemesa noted.

He added that by now, all government institutions as well as private companies should have migrated to E-commerce where a client does not need to do any paper work for them to acquire a loan or pay for a service while will make banking easy.

“93% of adult Ugandans use phones. Of those over 50% need financial services and are computer literate. The use of mobile phone in this early is a very strong tool that if used collectedly, you will be able to keep your clients as well as acquire new ones.”

Equally, the accountants were advised to protect themselves against cyber attacks that come with the new technology.

Peter kahiigi, director E-government service at National Information Technology Authority, said as much as technology development is a good thing, it has come with so many risks that have left many companies defenseless against cyber attacks.

Kahiigi advised the accountants to be mind full of their information by creating strong security locks as well as limiting the number of people who have access to their computers.

“Do not allow people you do not trust to access your computers or use flash disks on them. Protect your information with the agency that it deserves because we are living in an early where information can easily be accessed and shared very quickly,” he said

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