AccountantsUnderstanding & Leveraging the Blockchain Challenge
4 September 2023
8 September 2023
2 Technology hours per webinar (structured)
- SAIPA members – FREE
- Non-SAIPA members – R920 (incl. VAT)
Why should you attend
No-one can deny that the world of money and business is rapidly and irreversibly changing each and every day. Those who do not take advantage of the myriad new tools available to us are doomed to be left behind.
One of these tools is blockchain, a secure method of storing and managing data with full verification and traceability. And while some may be resistant to taking it on, those who are able to leverage blockchain technology are sure to streamline their processes and create an enhanced source of future income.
What you can expect
Find out how blockchain technology can unlock new heights of efficiency and success in this insightful webinar, including:
Enhanced transparency and immutability:
Blockchain’s distributed ledger allows for transparent and tamper-proof recordkeeping. Accountants can use blockchain to securely track financial transactions and ensure accuracy and integrity in the audit process.
Smart contracts or self-executing agreements automatically enforce predefined conditions once certain criteria are met. Accountants can use smart contracts on blockchain platforms to automate various accounting tasks, such as invoicing, payment processing and compliance tracking.
Streamlined auditing processes:
Blockchain’s transparent nature simplifies the auditing process. Accountants can access a decentralised ledger, thereby reducing the need for manual data collection and reconciliation. This can help them identify discrepancies, verify transactions and enhance audit trails.
Efficient supply chain maganement:
Accountants can leverage blockchain to track and verify transactions within supply chains. This enables real time visibility into inventory movements, thereby reducing the risk of inaccuracies and fraud. Additionally, blockchain can automate processes such as reconciliation, invoicing and payments between suppliers and customers.
Improving financial reporting:
Blockchain can enhance financial reporting by providing real-time access to accurate and reconciliation data. Accountants can have immediate visibility into financial statements, thus ensuring timely reporting and reducing the risk of errors or manipulation.
Enhanced security and fraud prevention:
Blockchain’s decentralised nature and cryptographic security make it highly resistant to fraud and hacking. Accountants can use blockchain to securely store sensitive financial data and ensure the integrity all of transactions.
Cost reduction and efficiency:
By leveraging blockchain, accountants can streamline manual processes, reduce paperwork, and eliminate intermediaries. This leads to cost savings and increased efficiency in financial operations.
About the presenter:
Professor David Venter
Professor David Venter is a seasoned negotiations specialist boasting decades of experience in negotiation training and consulting, corporate restructuring, corporate communication and more. Backed by a Master of Arts in Psychology, Prof Venter practiced psychology for 15 years and managed large clinics, before serving as the Director General of Government Communication and Information during South Africa’s transition from apartheid to democracy.
Prof Venter has established numerous negotiation training and consulting companies in South Africa and abroad. Today, he is a Partner and Professor in Negotiation, Conflict Resolution and Leadership at Vlerick Business School in Belgium.