According to statistics by the Institute of Chartered Accountants of India (ICAI), over 50% of chartered accountants who were surveyed feel that technologies like big data and artificial intelligence are going to change the course of the profession in the coming years. However, one in every two also shared that the costs involved in procuring software and training employees are a major hindrance in stepping into the digital domain.
Fortunately, whether it is IT integration that’s on your to-do list or buying a new office space, having a Flexi Loan ensures you have the finances you require at all times to turn your plans into action. Here are a few key ways in which a Flexi Loan can transform your CA firm, allowing you to #Finance Your CA Firm The Flexi Way.
Hire extra employees to help with tax filing
Tax-filing season is likely to be busiest time of the year for you and needless to say, it can be particularly stressful. With scores of accounts to tally, reports to prepare, paperwork to go through and raw data to make sense of, it makes good business sense to hire additional help, even if it comes at an extra cost.
To avoid paying the penalty that Section 271J imposes on chartered accountants for filing incorrect information and hiring employees on a temporary basis with ease, consider availing the Flexi Loan facility with a Bajaj Finserv Loan for Chartered Accountants. It gives you the financial leverage to employ workforce quickly. You can apply online in minutes and loans are approved in 24 hours.
Upgrade hardware to support AI and IOT
One way to transform your CA firm is by integrating artificial intelligence (AI) and robotics into your core processes. However, to do this you need to invest in the right hardware: new workstations and a robust networking system to create an infrastructure that supports the Internet of Things. These systems offer rich insights when it comes to statistical analysis and can even facilitate management of accounts through a mobile app. You can furnish all these needs with a loan amount of up to Rs.35 lakh via the Bajaj Finserv Business Loan for Chartered Accountants, available on a collateral-free basis.
Upgrade software to help with auditing
Once you receive your loan sanction from a lender like Bajaj Finserv, use the Flexi Loan facility to borrow finances as per your business needs. The best part is that you pay interest only on the amount you use and not your total sanction. So, once you have invested in top-notch hardware, make the best use of it with state-of-the-art software. Big data algorithms cull relevant data from massive sets and help you analyse your clients’ business performance and point out operational hazards, if any. Similarly, relying on cloud computing platforms helps sync users and allows you to manage your business from any device that has an internet connection.
The best part is that each time you need money from your sanction to action any business decision, you simply need to state the amount you want, without filing a fresh loan application. This means that you can purchase software and enrol key staffers for training programmes at your desired pace.
Expand your firm to a new premises
As your business grows you may feel the need to open a new branch and set up shop in a new premises. Ventures like this require a large amount of financial assistance. You can get this when you opt for a Loan Against Property for Chartered Accountants. Loans run up to Rs.2 crore and tenors stretch up to 240 months. The Flexi Loan facility makes repaying your loan easy as you can opt to make interest-only EMI payments through the tenor. The principal can be repaid at the end of the tenor, once you have had time to replenish your finances. In fact, this option can help you save up to 45%.
Having seen how a Flexi Loan can make your CA firm agile and allow you to #Finance Your CA Firm The Flexi Way, be sure to apply at the right time to usher your business into a phase of rapid growth.
To apply for Bajaj Finserv Loan for Chartered Accountants, click here.