This week, the Ministry of Commerce presented the Platinum award for Thailand’s Best Digital Accounting Firm Award 2021 to MBMG Group CEO Janjira Sumanus, who accepted it on behalf of Hua Hin Accounting and Law, which is part of Thailand’s MBMG Group.
The Ministry’s Department of Business Development (DBD) organized the award ceremony for the Best Digital Accounting Firm Award 2021, hoping that it could serve as a model to stimulate accounting firms and professional accountants across the country to be alert to the transformation to digital accounting from manual bookkeeping preparation. In conjunction with the Bangkok based MBMG Group, the Hua Hin branch is a leader in being able to offer and adapt several choices of smart accounting platforms and services which include Xero, Flow, Peak and Nexto.
Janjria (Jan), who has 25 years of experience specializing in law and accounting, said that 70% of MBMG’s clients have transformed to the smart accounting collaboration model, and for new customers she recommended going entirely digital at the beginning. She also noted that nobody has, so far, regretted converting to the smart accounting model which can overall make a business a lot more efficient in terms of both revenue, costs and margins.
Thosapol Thangsubut, Director-General of the Department of Business Development, revealed that one of the businesses that the department has always given importance to is professional accounting services and digital accounting which (with the right adaptation) can usually permit enormous cost and time savings.
The DBD has continuously implemented quality assurance initiatives for accounting firms that operate businesses in accordance with international standards and these are listed as “Qualified Accounting Firms.”
For Qualified Accounting Firms that are fully integrated with digital technology the DBD organized this contest, and the awards were divided into three levels: the top award Platinum followed by gold and silver.
Criteria were several and included an ability to provide quick and accurate processing and reporting, building confidence and awareness in digital accounting, as well as ensuring no loss of data or errors. Another benefit is the less need for printouts and storage of hardcopies.
Smart accounting can also provide relevant accounting information, ratios and appraisals which are useful for planning and business decisions – “it really depends on what our customer would like to see on their dashboard (performance summary) and we can also consult about this,” commented Janjira.