Gurgaon-based FinTech Company HostBooks has signed a Memorandum of Understanding (MoU) with The Institute of Chartered Accountants of India (ICAI), the national professional accounting body, to encourage the use of technology and automation among chartered accountants, which will help them increase their efficiency and productivity in practice.
As part of the MoU, HostBooks will be offering three users all-in-one accounting & compliance solutions to ICAI members for three years free of cost bundled with other benefits. The initiative is aimed at promoting the use of cutting-edge technology among members and hence increasing efficiency in their practice. This MOU was signed at an event of ICAI and World Bank on ‘Training Program on Auditors engagement in Procurement post review for World Bank Funded projects’ in New Delhi.
Speaking on the collaboration, Kapil Rana, Founder and Chairman, HostBooks Limited, said, “Chartered Accountants play an integral role in reducing the compliance burden for businesses. To facilitate further simplification and enhance their efficiency, HostBooks will provide automated and cloud-based end-to-solutions to practitioners.”
Furthermore, the company will provide dedicated support and service center for ICAI members after the installation of the integrated accounting and compliance software. To ease the transition process, the accounting professionals will also get a dedicated team for implementation from time to time to provide training.
Rajesh Sharma, Chairman, Committee for Capacity Building of Members in Practice of ICAI, added, “The MoU signed Hostbooks for providing all-in-one accounting & compliance solution to ICAI members will make automated technology accessible anytime, anywhere on the go to the practitioners. I believe that CA professionals will use this cloud-based facility for the enhancement of technology for accounting and compliance requirements.”
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