Analyzing the Role of Technology in Modernizing Accounting Practices at Snehasish Mahmud & Co. (SMAC)

Abstract

This report explores the transformative role of technology in modernizing accounting practices at Snehasish Mahmud & Co. (SMAC), a leading chartered accounting firm in Bangladesh. In an era marked by rapid digital evolution, traditional accounting systems are evolving into more efficient, automated, and client-centric processes. The research focuses on key technological interventions—such as electronic invoicing, automation of repetitive tasks, cybersecurity measures, advanced reporting tools, and integrated software solutions—and their impact on enhancing accounting practices at SMAC. Using a descriptive research design, the study draws on both primary and secondary data. Survey responses from 28 employees and professionals at SMAC, along with insights from interviews and organizational documents, were analyzed to understand the extent and effectiveness of technology adoption. The findings reveal a strong preference for electronic invoicing and automation, with over 78% of respondents strongly agreeing that such tools significantly contribute to modern accounting. Similarly, interconnected systems and cybersecurity protocols are viewed as vital in ensuring accuracy, transparency, and data protection. The study highlights that technology not only streamlines internal processes but also strengthens client relationships through real-time data access and personalized financial insights. In line with global trends, SMAC is seen actively integrating cloud-based tools and sustainability reporting into its operations. Despite challenges such as limited global presence and regulatory uncertainties, the firm is well-positioned to lead in digital accounting transformation. Based on these findings, the report recommends further expansion of digital tools, enhancement of cybersecurity infrastructure, continuous employee training, and strategic adoption of cloud and ERP systems. These steps will not only improve operational efficiency but also future-proof the firm against the dynamic demands of the accounting profession. In conclusion, this report affirms that technological integration