Accounting for big companies has in recent years evolved from being a purely administrative necessity to a strategic function that contributes to better decision-making, increased profitability, and more efficient operations. As your business grows and the volume of transactions increases, it becomes increasingly important which accounting system you use and which accounting firm you choose to work with.
Automation and digitalization
In recent years, the accounting industry has undergone major changes, primarily related to automation and digitalization. Previously, accounting involved extensive manual processes: invoices were entered manually, receipts were scanned, and bank reconciliations could take hours each week.
Today, much of this work happens automatically. Modern accounting systems such as Tripletex collect invoices electronically, automatically match payments to invoices, and can even interpret receipts using artificial intelligence (AI).
Automation frees up time and resources that were previously spent on manual data entry and control. Instead, the accounting team can focus on analysis, insights, and advisory work. These tasks create real value for the company and provide management with a stronger foundation for decision-making.
The role of the accountant in big companies
In big organizations, the accountant today is far more than a “data entry clerk.” The role has evolved into that of a strategic partner, someone who helps interpret financial data, analyze profitability, and identify opportunities for improvement.
Modern accountants can answer key questions such as:
- How profitable is our company?
- Can we reduce costs without compromising on quality?
- Is now the right time to invest?
The answers to these questions can have a significant impact on the company’s development. A skilled accountant provides the confidence needed to make well-informed decisions based on accurate data and analysis.
Handling international operations
Many big companies in Norway operate across borders, which makes accounting work more complex. Tax and VAT regulations vary from country to country, making it crucial to work with an experienced accountant who understands international accounting standards and compliance requirements.
An accountant with experience from international companies or access to a global network can ensure that your accounts are handled correctly across jurisdictions. This is especially important when your business has subsidiaries, branches, or international projects.
Reporting
Big companies are subject to strict reporting requirements. To avoid penalties from The Norwegian Tax Administration and ensure an efficient finance department, it is essential to submit accurate annual accounts, tax returns, and other statutory reports on time.
A professional accounting team ensures that all reporting is accurate and that the company remains fully compliant with all relevant laws and regulations. Modern accounting systems also make it easier for management to extract detailed reports and KPIs, giving a clear picture of the company’s financial position. This is valuable both for internal decision-making and for external stakeholders such as investors and the board.
Internal control and risk management
For big companies, strong internal control is a vital part of the accounting process. When the transaction volume is high and multiple people are involved in financial operations, the need for consistent follow-up and compliance increases. A robust control system ensures that all financial activities are carried out in accordance with applicable laws, internal guidelines, and corporate values.
Risk management is about identifying potential weaknesses before they develop into major challenges. A professional accountant can help establish effective control routines, giving management better oversight vand predictability. This builds confidence and trust both internally and among investors and business partners.
Contact us
Accounting for big companies is far more than bookkeeping. With the right combination of skilled professionals, automated systems, and sound financial management, accounting can help increase profitability, reduce risk, and make your company better equipped for the future.
We handle accounting from A to Z for big companies. From daily bookkeeping to financial control and strategic advisory services – we’ve got you covered.
Contact us today to schedule a meeting and discuss how we can work together.
