The Grand Summit Hotel, General Santos City, May 16, 2024 – The U.S. Agency for International Development (USAID) is currently hosting an educational event called “Governance Workshop and Strengthening Mindanao Chambers and SMEs for the Digital Economy.” So far, so good; attendees are having lively discussions and watching presentations with the goal of helping local businesses through technological advancements in e-commerce.
USAID is the principal U.S. agency to extend assistance to countries recovering from disaster, trying to escape poverty, and engaging in democratic reforms. They introduced the Strengthening Private Enterprises for the Digital Economy (SPEED) which is a project that will enable Philippine MSMEs to be competitive in the country’s emerging e-commerce ecosystem.
Among the notable speakers is Myla Hernandez from Beppo, an expert in the field of accounting and technology. Her talk, which is much anticipated by participants, is on how technology is revolutionizing accounting and bookkeeping. Myla will demonstrate how digital tools are dramatically changing corporate business functions as the event progresses.
Beppo, a leading corporation in financial technology, was co-founded in 2021 by the same founders of JuanTax, an accredited electronic tax software provider of the Bureau of Internal Revenue. Beppo serves a growing community of business owners and self-employed individuals by offering an end-to-end solution for managing finances, recording transactions, and filing taxes seamlessly.
Myla Hernandez on Technological Advancements in Accounting
Myla’s presentation, “How Technology Helps Bookkeepers and Accountants,” is a highlight of the event. Here are some key points from her ongoing speech:
- Automation in Bookkeeping: Myla highlights the revolutionary potential of automation in bookkeeping. Routine processes like data input and invoice processing may now be entirely automated with smart software solutions, which results in significant time savings and improved data accuracy.
- Impact on Business Efficiency: Real-time data processing and cloud-based platforms are enhancing business efficiency. These technologies allow for immediate access to financial data, facilitating better decision-making and strategic planning.
- Cost Reduction: SMEs can drastically cut operating expenses by utilizing automated accounting solutions.This is an important benefit for small companies with limited resources.
Myla also revealed an interesting insight with the audience: “Did you know that bookkeeping can be 100% percent automated?” This statement emphasizes the great potential of AI-driven tools in reshaping the accounting profession and freeing human resources to give more time to SMEs and business owners to grow their businesses.
Implications for the Digital Economy
In the broader context of the digital economy, efficient bookkeeping and accounting are of utmost importance. Accurate financial records are essential for regulatory compliance, fostering trust with stakeholders, and providing a clear view of a company’s financial health. Attendees are learning from Myla’s thoughts how embracing technology in these areas can lead to growth and success for businesses.
Empowering Mindanao’s Business Community
USAID SPEED collaborates with public and private sectors to enable small and medium-sized businesses (SMEs) in the Philippines to take advantage of the digital economy.
The goal of this workshop is to give SMEs the skills and resources they require to flourish in this digital age. One of the most important parts of this event is the Myla Hernandez’ talk, which provides useful information that can be used right away to improve business operations.
Attendees at the Grand Summit Hotel are debating these ideas and actively implementing technological solutions in their own companies.
As the workshop progresses, be ready for the organizers to bring together innovators and thought leaders to discuss more about the future of the digital economy. Myla Hernandez’s input is establishing a high standard for the conversations and advancements that will follow throughout the day.