Here’s Why You Need to. NOW!
Accounting automation is tricky tech to navigate. Depending on where you’re standing, it can be a savior by handling tedious tasks and leaving you free to focus on priorities. For some finance professionals, though, it seems to herald the death of the profession (trust me, it doesn’t).
As an entrepreneur, I’ve always seen automation has a liberator. In fact, I urge my clients to adopt it for their accounting and bookkeeping because it makes quick work of complex tasks. When they do, they’re left with more time to analyze, strategize and streamline their business.
Why Automation Is a Friend to your Business
It makes you productive
Think about it. The less time you spend on repetitive, albeit essential tasks, the more you can dedicate to your clients. As for your in-house accountants (or yourself if you’re also handling accounts), they’ll thank you for the automation especially during financial closing when things get a little crazy.
It reduces errors
Inputting dozens of entries manually is a bomb of errors just waiting to go off. True, automation doesn’t guarantee zero errors but it does increase the odds of data being accurate and not mishandled.
Access data in real-time
Automation software today is cloud-based, giving you the freedom to access data from anywhere you are – as long as you have an internet connection. Forget carrying and risking losing USB sticks; with cloud access, you can search, input, make payments, and scale your accounting from anywhere on the planet (almost).
Enjoy customizable reports
Creating reports manually takes time and leaves room for error. Automation software solves these problems by letting you customize your reports. You’re in complete control and can tailor invoices, report formats, data fields and more. You can also tailor role-based dashboards for different users.
Most accounting software is easily integrated with business systems. You can assemble applications that work the best for your business or even build entirely new ones. You get a comprehensive real-time picture of your business since data is automatically updated as and when orders are processed.
With more businesses using accounting automation software, developers are creating increasingly advanced security features to ensure files remain safe against leaks and cyber-attacks. You also have more control over who can access records and sensitive financial information. This minimizes the risk of data being exposed to unauthorized employees.
Accounting automation software is highly scalable to suit market demands and increased workloads. All you need to do is choose modules and add-ons when needed. With most software available as software as a service (SaaS), providers will evaluate your growth pattern and plan what upgrades and modules you need. They even conduct training sessions to familiarize your accounting team with the new features.
If redundant, repetitive work can be automated, I believe it absolutely should. I’m all for removing the frustrating parts of accounting so that I can focus on more important stuff like my clients. Don’t you agree?