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Meet the accountant of the future

The accountant of the future will need a new set of skills, writes ARTHUR GOLDSTUCK, as he meets both the local users and the global creators of Xero accounting software

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Buchule and Sivenathi Sibaca get a highrise view of London. Pic by Arthur Goldstuck

Meet Buchule and Sivenathi Sibaca. They are not only partners in marriage, but also in a thriving accounting business. Buchule and Sivenathi are, respectively, chief executive officer and chief financial officer of SMTAX, which focuses on tax and accounting services for small businesses in the Western Cape, but includes the likes of Absa and Old Mutual among its clients. It employs 18 people and has 4,500 individual and business customers.

That’s not what makes the outfit remarkable. The startling feature of this business is that it has been structured to be a model accounting firm of the next decade. Even more remarkable is the fact that the couple both hail from rural areas where thoughts of the future tend to be about survival rather than blazing new trails.

Last week, they made their first trip out of the country, to attend Xerocon London 2019. This 2-day conference, hosted by the world’s fastest growing accounting software maker, Xero, attracted more than 3,000 delegates from the United Kingdom, Europe Middle East and Africa. A total of 57 Xero partners and users, mostly from accounting practices or suppliers to accountants, made the trek from South Africa.

“It was really about seeing how other accountants on other continents operate in terms of how they think and where their headspace is at,” Buchule told us during Xerocon. “Also, being our first time out of the country, it was to see the culture of other small businesses outside of South Africa. 

“London’s quite different in that regard, but it’s been a really a great learning curve, and we were pleasantly surprised to find elements that look like South Africa, where we can say, at least you’re doing something right. The banking environment is quite unique, as it’s been a really good learning curve in terms of where banking might go to in the future of South Africa if they follow the same trend.”

Buchule comes from the “dusty streets” of Uitenhage in the Eastern Cape, while Sivenathi grew up on a farm in a deep rural area near Mthatha.

“I had no idea about technology or the rest of the world or how it could impact the economy in general,” she said. The two met at the University of Cape Town, where she was studying to be an actuary, and he completed a Masters degree in tax. She decided to put actuarial science behind her, however, when the opportunity arose to join Buchule’s business. But her skills helped transform the business.

Said Buchule: “When Sivenathi came on board we did the modeling of the business, and we said that in order to in order to automate the whole bookkeeping journey, we would need to turn closer and closer towards ‘x’, meaning fully automated bookkeeping. We looked at the journey of how long it will it take for us to get to time ‘x’. And then we said, OK, once we get there, what then?

“It was a big realization that when we do get to time ‘x’, the most important thing will be the human touch. That will be the differentiator. So we then spent our time developing that.”

Visit the next page to read more about the Xerocon 2019 event.

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Vodacom cuts cost of smallest bundle by 40%

The country’s largest mobile operator has kept to a promise made last month to slash the price of entry-level data packages

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Vodacom has cut the data price of its lowest-cost bundle by 40%, reducing the price of a 50MB 30-day bundle from R20 to to R12. This follows from the operator’s promise in March, when it announced a 33% cut in the cost of 1GB bundles, to reduce prices of all smaller bundles by up to 40%.

Vodacom’s various 30-day data bundle prices will be cut across all of its channels, with the new pricing as follows:

30-day bundle size New Price Reduction
50MB R12 40%
150MB R29 33%
325MB R55 33%
500MB R79 21%
1GB R99 34%
3GB R229 23%
5GB R349 14%
10GB R469 22%
20GB R699 31%

Vodacom confirmed it will provide free data to access essential services through Vodacom’s zero-rated platform ConnectU with immediate effect. The value of these initiatives, it says, is R2.7-billion over the next year.

“Vodacom can play a critical role in supporting society during this challenging time and we’re committed to doing whatever we can to help customers stay connected,” says Jorge Mendes, Chief Officer of Vodacom’s Consumer Business Unit. “Since we started our pricing transformation strategy three years ago, our customers have benefitted from significant reductions in data prices and the cost of voice calls. Over the same period, we invested over R26 billion in infrastructure and new technologies, so our customers enjoy wider 2G, 3G and 4G coverage and vastly increased data speeds.”

The latest data reductions will complement the discounted bundle offers that will also be made available to prepaid customers in more than 2,000 less affluent suburbs and villages around the country. For qualifying communities to access further discounted voice and data deals, they need to click on the scrolling ConnectU banner on the platform via connectu.vodacom.co.za

ConnectU – which is a zero-rated platform – also went live this week. It will provide content aimed at social development and offers a variety of essential services for free. Learners and students enrolled in schools and universities can access relevant information for free, with no data costs. The ConnectU portal includes a search engine linked to open sources such as Wikipedia and Wiktionary as well as free access to job portals; free educational content on the e-School platform; free health and wellness information and free access to Facebook Flex, the low data alternative to Facebook that enables customers to stay socially connected.

Vodacom’s popular Just4You platform has been a significant contributor to the approximately 50% reduction in effective data prices over the past two years. Substantial cuts in out-of-bundle tariffs and the introduction of hourly, daily and weekly bundles with much lower effective prices have also driven increased value and affordability, resulting in R2-billion in savings for customers in 2019.

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OneBlade shaves price of electric precision

Electric razors and their blades are usually quite expensive. But the Philips OneBlade shaves the cost, writes SEAN BACHER

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Electric razors come in all shapes and forms and their prices vary as well. When your nearest electronic retail outlet opens again, you will be able to pay a small fortune for a wet and dry razor that cleans itself, shows you when it needs to be recharged, and tells you to replace the cleaning solution – all via a little LCD panel in the handle.

But does everyone want that? Does everyone need that? Surely there must be customers who want an easy-to-use, no-mess, no-fuss razor that gets the job done just as well as a “smart razor”?

With this in mind, Philips has launched its OneBlade wet and dry electric razor. The razor is dead simple to use. It comes with three stubble combs – 1mm, 3mm and 5 mm –  which can be clicked onto the head much like one would with a hair shaver. Should you want a really close shave, simply the combs off. I found this to be the most effective as I don’t have a beard.

The razor’s blade is the size of the striking side of a matchbox and has 90-degree angles all round. This offers precise shaving and, because of its small size, it is able to get just about anywhere on a person’s face.

The blade has a usage indicator that shows when it is time to replace the blade – usually after four months – and an additional blade is included in the box.

The OneBlade’s battery takes up to eight hours to charge, and will give up to 45 minutes shaving time.

Overall, the Philips OneBlade will give a man a comfortable and precise shave. Its battery life, combined with its size, makes it a perfect travel companion as it is no bigger than an electric toothbrush. Its relatively low price compared to other electric razors also counts in its favour.

The One Blade can be bought from most electronic retailers or can be ordered online from websites like takealot.com. The razor retails for R650 and a set of two new blades will cost around R450.

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