See full profile: Woodmead, Sandton Accountant - Babalwa Digital
Were you always planning to be an accountant and why?
Yes. I have always had a flair for numbers which were to be a passion for developing and aiding the success of small businesses.
When meeting with clients, do they mostly come to your own premises, or do you mostly go to theirs?
I mostly go to my clients.
What is your preferred mode of communication with your clients?
Have you ever done an online video call with a client?
No
What do you love most about accounting?
Accounting serves as the cornerstone for interpreting the financial well-being of a company, facilitating business owners in gaining insights into their areas of growth and expenditure allocation.
Would you recommend accounting as a career for school-leavers, and why?
Yes. The field of accounting offers a diverse array of career pathways, ranging from roles within financial departments of corporations to providing vital support for small businesses, and even the potential for entrepreneurial ventures as a business owner.
What qualities should South African business people be looking for in their accountant?
South African business owners should seek Accountants who possess a blend of technical expertise, local regulatory knowledge, and personal qualities conducive to effective collaboration and communication. At BD Digital, we leverage the use of accounting and payroll cloud software solutions (online software) to collaborate with business owners.
What is the biggest challenge facing accountants today?
One of the biggest challenges facing accountants today is keeping pace with rapid technological advancements and adapting to the digital transformation of the accounting profession. With the rise of automation, artificial intelligence, cloud computing, and data analytics, accountants are required to continuously update their skills and embrace new technologies to remain relevant. This shift towards automation means that routine tasks such as data entry, reconciliation, and basic analysis are increasingly being performed by machines, freeing up accountants to focus on higher-value activities like strategic planning, data interpretation, and providing insights to support decision-making. Wile technological advancements offer numerous benefits and opportunities for accountants, they also pose challenges that require proactive adaptation and continuous learning to overcome.
What aspects of accounting do you focus on most?
We provide information and assistance on a wide range of accounting topics. Bookkeeping, Accounting & Financial Reporting, Taxation, Payroll and Business Compliance. Sage Business Cloud Accounting & Payroll Implementation and Training.
Describe your average client:
An average small business client can vary in industry, size, and stage of development, but they often share three main characteristics:
1. Size: Typically, the small business client is relatively small in terms of revenue and staff. They may have anywhere from a few employees to a few dozen, with annual revenues ranging from tens of thousands to a few million dollars.
2. Technology Adoption: Many small businesses are increasingly embracing technology to streamline their operations. They may use accounting software like QuickBooks or Xero for bookkeeping, point-of-sale systems for retail operations, and online platforms for sales and marketing.
3. Entrepreneurial Spirit: Small business owners often exhibit a strong entrepreneurial spirit with a passion for their products or services and a desire to succeed. They may be open to new ideas, willing to take calculated risks, and eager to grow their business over time.
How far away from your premises is your furthest client?
Leverage online channels to cater to small businesses, facilitating our reach across South Africa.
From your accounting experience, if you could cite one of the biggest reasons SMEs in SA fail, what would it be?
One of the significant reasons SMEs in South Africa fail is often attributed to inadequate financial management. This includes issues such as poor cash flow management, insufficient budgeting and forecasting, lack of access to financing, and inadequate financial record-keeping. Without robust financial management practices in place, SMEs may struggle to make informed decisions, manage expenses effectively, and sustain their operations, ultimately leading to failure.
What accounting software do you like best?
Sage Business Cloud Accounting
What other software, online services or apps do you use?
Sage Business Cloud Payroll Draftworx Digital Practice
Do you think the coming wave of automation in the next few years will steal some accounting jobs and why/why not?
Yes, the upcoming wave of automation is expected to impact accounting jobs to some extent. Automation technologies such as artificial intelligence (AI), machine learning, and robotic process automation (RPA) have the potential to automate repetitive and routine tasks in accounting, such as data entry, reconciliation, and basic analysis. Businesses still prefer the human element, which is provided by accountants, that will not go away in the next two decades.
What is your opinion on Bitcoin?
Bitcoin is a digital currency that operates on a decentralized network called blockchain. It was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin transactions are recorded on a public ledger known as the blockchain, which is maintained by a network of computers (miners) using cryptographic techniques.
What do you enjoy doing in your spare time?
Golf, Swimming, Reading
What is the most interesting thing on your bucket list?
Travel
What has your experience been on FindanAccountant?
Good
See how our other local South African accountants have answered the above questions.
