What is Scrum and how it Works?

Scrum is based on agile framework used for product development, which focuses on the iterative and incremental progress. One of the key principles of the Scrum is to recognize the facts that customers can change the requirements at any point of time and the team might encounter any unforeseen challenge.

Roles in Scrum

There are specific pre-defined roles in scrum. These different roles are mentioned below.

1) Product Owner

All the stakeholders are part of this particular role.  The primary role of the product owners to ensure that the product developed by the team meets the requirements and specifications.  Product owner is also responsible for the timely and proper communication to the stakeholders, apprising them about the progress and vice-versa.

2) Development Team

This is the team who is actually responsible for delivering the end product to the customer, based on the requirements specified by them. Ideally, a development team consists of 3 to nine members, although there might be different roles in the team. They work with external teams as well like the PMO (Project Management Office).

3) Scrum Master

Scrum master is the person responsible for facilitating the Scrum. The person in the scrum master role should highlight the risks identified by the team to the management, so that they can be addressed to ensure that the team will be able to deliver the components as per the sprint schedule.

Scrum Workflow

Get yourself trained to be a Certified Scrum Master

For the development of Scrum, the most critical unit is Sprint (Iteration). Every sprint is planned well in advance and must be completed within a certain pre-defined deadline. As every sprint is a time-bound activity, the steps in the sprint should be clearly defined before it is initiated. The basic idea of having a sprint in place is to ensure that after every sprint, the desired product is delivered, as per the requirement.

As mentioned earlier that each module of sprint should be defined well in advance, let’s have a look at the various modules of the Sprint.

·         Sprint Planning

This is the first activity, which needs to be performed when sprint is started. Generally, a sprint planning event is conducted by the Scrum team. The objective of the sprint planning event it to identify the scope, define the deliverables and an estimate for the sprint. Also, any backlog from the previous sprint, which will have a dependency while implementing the current sprint, should be clearly identified and defined.

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Future of Cloud (SaaS) Accounting Software in Coming Decade

Cloud Service has become one of the integral parts of life now. Everyone from mobile to desktop users is taking the advantages of the cloud. Microsoft OneDrive and Google drive are providing promising service through the cloud.

“Darwin’s theory of evolution has not only been exemplary of human beings but also of software industry.”

With evolution as the core of software industry; one has observed changes in all fields of software. Be it Hotel Management, Sales and Marketing or be it Finance and Accounting; software and technology has kept on evolving.

In the arena of Accounting, adapting to the future of accounting software will determine the future of the companies.

The future of accounting revolves mainly around these terms: cloud-computing, artificial intelligence, compliance and round the clock support.

1. Cloud Computing:

Accounts have migrated from earth to clouds with the Cloud based Accounting Software. Cloud-computing has contributed to each field in the wide expanse of software fields.

With help of cloud based accounting software’s, accountants have an access to the software from anywhere, only by possession of mobile, tablets, laptops or any internet connected device. The secure systems having installed software are now portable.

2. Artificial Intelligence

Darwin’s theory of Evolution has surpassed humans, now even artificial intelligence is evolving. Artificial Intelligence is a miracle worker. Earlier self-computation of formulas, reconciliation of data with business strategy, prediction of finance requirements and numerous menial tasks required manual intervention.

Now they have been replaced by complex algorithms which make account’s life easier. The trend of artificial intelligence is here to stay.

3. Compliance

Future of any Accounting Software will depend on their compliancy. Compliance with government norms of billing, filing, auditing and taxes will determine the usability of software.

Software providing these internally integrated services will be the best pick of accountants across the globe. Compliance will reduce the daunting task of collaboration with different departments of a firm.

4. Round the clock Support

Earlier offline software required personnel support from the software companies. With cloud computing, personnel support will become virtual with telephonic and web based support.

The future will demand a real-time support round the clock.  This round the clock support will be provided by virtual assistants created with help of artificial intelligence and supervised by human personnel. 

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