MSME has implemented AI & ML on its robust Single Window System 'Champions' which was launched by the PM on 1.6.20. This system has physical control rooms at 69 locations in the country.
Before you dive into avail the perks of a financial consolidation software, it is crucial to know what to expect from the software. Let us understand those expectations.
Simplest guide to Block Nowadays much noise is in market for bitcoins that is why blockchain concept is in trend. So do blockchain a dynamic technology? Yes!! It is a kinda revolution in field of technology. But this is new technology and loops still exist in it. We will further discuss in detail.chain technology
Blockchain gives a significant level of safety and security with regard to transaction data and money. It additionally permits users to exploit the transparent system and foundation alongside low operational expenses with the aid of decentralization.
In business, there is a policy of contingency that provides a ready cushion in case of unexpected events. However, a global pandemic is seldom on any one's contingency list.
In the world of uncertainties, growing cyber risks, it's high time that all the organisations design and maintain internal controls with best of business practices. This will always add value to the business and will go a long way in business uninterrupted business growth.
Due to the current challenging situation the whole world is facing, as a CA who is working somewhere or a CA who is running his/her own firm, it is particularly important to analyze your firm's digital quotient and make it tech-savvy.
Also, in Blockchain one can trace the whole transaction from the start to its end. All the transactions linked together. And if anyone tries to hack or make mischief in any one transaction the whole block of a chain will be affected.
Even if machines can perform all the calculations or initial audit-related tasks, someone would be needed to verify that AI is doing its task correctly and is not faulty. Instead of being a victim of technophobia, let's work in harmony with technology as the amalgamation of both can reap Fruitful results.
Forensic Accounting and Auditing - An opportunity in today's world