Accounting Process Automation
Why improve Accounting Processes?
Automation of accounting processes boosts productivity and frees up the time and energy of your financial accounting team so they’re able to focus on strategic initiatives like understanding business drivers and applying them to process improvement and more effective communication.
Organizations need to keep their operations up-to-date and aligned with overall business goals. When it comes time to evaluate your processes and make decisions regarding your next steps, consider the impact that automation can make on your team’s efforts and your company’s bottom line.
Automated Accounting Basics
Our solutions for automating your accounting processes bring tangible results to your routine operations viz. improved accuracy, significant time savings, and reduced operational costs, to name a few. But when’s the right time to make an investment in accounting automation? What does transitioning from a manual to automated system entail? Is accounting software or a cloud-based financial management system the solution to your department’s growing pains?
More and more accounting professionals are tackling these questions, and with good reason: they need to keep their operations up-to-date and aligned with overall business goals. When it comes time to evaluate your processes and make decisions regarding your next steps, consider the impact that automation can make on your team’s efforts and your company’s bottom line.
When to automate accounts?
When an accounting department relies on manual processes for posting payables and receivables, printing and mailing checks, distributing and mailing invoices, plugging numbers into pie charts, employees have little time to add the kind of value that’s needed to take the company to the next level.
Today, you might be using spreadsheets and paper-based processes to manage your accounting functions. This method used to meet your day-to-day needs, but as the business grows it’s showing its limitations: not keeping pace with changes in goals or processes, not handling increased and more complex data needs, and leaving your records vulnerable to costly human error. While you may have outgrown your existing labor-intensive systems, hiring new employees to handle the influx of accounting work isn’t economically feasible. It seems the more there is to do, the less efficient your workflow becomes.
Benefits of Automation
The digitization of data moves a process from manual to automatic and puts accounting functionality in front of more people without the need for new hires. It offers new capabilities afforded by automation technology viz. the inter connectivity of business systems and streamlining of manual processes .
With a cloud-based financial and accounting automation management service, your data is stored on remote, secure servers maintained by the software provider. Cloud-based systems are highly scalable, which enable you to expand or contract as needed, without the need for new in-house hardware and server resources. Users can access cloud-based services remotely and on any device at any time, making it easy to manage from multiple offices.
We are delivering technology to automate processes ranging from bookkeeping to financial reporting, and our clients are reaping the rewards of better scalability and enhanced visibility. By turning their functional, “back-office” area of accounting into a front-office powerhouse of financial information and insight, we are helping to drive business growth — meaningfully contributing to the future of our client's organization.