Our fabulous ladies Practice Manager, Lisa and Practice Transformation Specialist, Jayne attended the Sage Summit Accountant and Partner day on 5th April. This was the first time Sage have hosted a summit in the UK: with a speaker line up of impressive female entrepreneurs and the latest on technology advancements for accountancy and bookkeeping we knew we’d learn lots.
So what really impressed us?
Artificial Intelligence for your accounting
Think what the world would be like if we could get robots to do all our admin … Sounds like science fiction doesn’t it? But at the Summit we met Pegg, the world’s first voice assistant for accountants.
The idea is that you, as a business owner, can use Pegg through your mobile and it’s as easy as texting or chatting to a friend online. If you ask how much profit you’ve made this month, Pegg will understand what you need to know, check your records and tell you.
At the Summit, Sage unveiled a live robot financial assistant for us to talk to using a service like Alexa or Siri. Pegg was up on the stage talking back to Kriti Sharma, Sage’s VP of Bots & AI, and can answer questions about the finances or book a request for annual leave.
Of course we were keen to hear the latest on Making Tax Digital as we’re already working on making the transition as easy as possible for our clients. The new compliance requirements mean nearly all businesses and sole traders will need to use cloud based software and file financial records to HMRC quarterly (instead of after the end of year).
The benefit for you is having a better view of your business finance and tax liability at any given time and as long as you (or your bookkeeper) are using the right software, your business will be compliant. No more surprise tax bills and being able to pay tax as you go will make life easier, especially for small businesses.
Martha Lane Fox CBE and founder of lastminute.com
Our last stand out moment was listening to Martha Lane Fox talk about her work on making the internet and digital technologies fairer for all. Her message is about inclusiveness and diversity and reminded how us shocking it is that so few women are in technology based jobs, despite it being a young industry. As a practice founded by a women, we always love to hear about girl power and we went away inspired by Martha’s work on rebalancing the gender divide.