Accounting: Expert Highlights Role of Advanced Technology in Driving Efficiency, Growth

Segun James

A distinguished accounting professional, Mr. Adeyemi Daramola, has emphasised the crucial role of cutting-edge accounting software and tools in substantially enhancing workplace efficiency and driving business growth.

Daramola stated that the technological revolution in accounting processes has fundamentally altered the landscape of financial management.

In a statement issued at the weekend, he particularly noted the importance of real-time reporting capabilities, which empower businesses to make data-driven decisions, respond swiftly to market fluctuations, and maintain a competitive edge in an increasingly dynamic business environment.

Citing recent industry data, Daramola explained: “The adoption of sophisticated accounting software has surged by 30 per cent over the past year. More impressively, 70 per cent of businesses implementing these solutions report marked improvements in operational efficiency and substantial cost reductions.”

The accounting expert attributed this remarkable growth to technology’s capacity to dismantle long-standing barriers in financial management and catalyze business success across various sectors.

On the pressing challenges facing accounting, Daramola said: “I strongly recommend forming strategic alliances with global accounting bodies.

“By fostering these partnerships and leveraging the full potential of advanced technologies, accountants can unlock new opportunities and drive sustainable growth in an increasingly globalised economy,” he added.

With an established reputation for developing innovative solutions to complex financial challenges, Daramola has played a crucial role in mentoring numerous aspiring accountants and has actively advocated increased collaboration between local and global accounting bodies to elevate industry standards.

In his distinguished career, Daramola has demonstrated an unwavering passion for finance and business analysis.

His credentials include certifications as an Accounting Technician and Chartered Accountant under the Institute of Chartered Accountants of Nigeria (ICAN), complemented by his student membership in the Certified Public Accountants (CPA) association.

He had custom-built Excel functions that successfully automated payroll processes for over 500 employees, significantly reducing processing time and errors.

Additionally, he played a pivotal role in securing over $1.6 million in funding for a promising digital bank startup, showcasing his ability to bridge traditional accounting practices with the evolving needs of the FinTech sector.

His forward-thinking approach, which seamlessly integrates cutting-edge accounting technologies with a profound understanding of industry challenges, has established him as an expert in optimising financial operations of organisations to drive growth in an increasingly competitive landscape.