Use Automated Accounting to organise finances

Automation solutions are the ultimate necessity for financial professionals.

Organisation is the key to achieving productive financial and accounting management, yet professionals are often lacking the tools that can help them to optimise performance. Such solutions are essential to ensure that every payment is made on time, all invoices are sent out and tracked and every document that passes through the department can be found in just a few clicks.

Reducing the time that financial professionals spend on administrative tasks such as searching for documentation or inputting data is the aim for any company looking to boost productivity and allows managers to put their staff to work on what they do best.

Automation allows technology to take on these tasks and get to work, not only on reducing the workload of staff, but also on helping to provide new methods and opportunities for them to discover new ways to boost performance. Such scope is provided by innovations like automation of accounting systems which allows for new analysis of risk when giving credit to customers.

Any financial professional will be keen to ensure that an investment like the kind that accompanies a digital transformation requires a strong return, and with cost reductions and time-saving impacts, automation has an undeniably strong case to find its way into any business, small, medium or large.

Reducing paper and starting a journey towards a paperless office is one of the key ways in which finance departments can help to optimise their work, avoiding confusion and cutting down on time lost sifting through paperwork as well as doing their bit for the environment and cost reductions. By upgrading accounting systems to be completely digital, piles of documents can become a sight of the past with information rapidly becoming easily found on a digital system.

Digital transformation overcomes challenges in finance

Resolve the doubts that any financial department may have about what there is to gain from business automation.

How does automation cut costs?

Companies can reduce payment debts by ensuring that there are no late payments made or payments missed, avoiding the fees that come with such administrative errors with this technology. No customer will have any excuse to make a late payment as automated invoicing ensures that every bill arrives on time. Evaluating payment risks for customers or prospective customers is also made far more simple, making it easier to significantly reduce the risk of unfulfilled payments is the most effective way to save costs for any finance team.

How does automation cut costs?

Provide an automated invoicing solution and automate accounts payable to open new doors.
How does digital transformation drive efficiency?

Such systems mean that information travels at the speed of light. Facilities also exist to link into an Enterprise Resource Planning set-up. In finance, it is perhaps more valuable than anywhere, as a study conducted by AIIM found that decision-makers highlighted accounts payable as the best performing integration. By permitting more fluid communication throughout, such developments can take your business to the next level.

How does digital transformation drive efficiency?

Generate clear workflows, allocate information to the relevant professionals in the department and streamline processes.
How does optimisation fuel growth?

Linking a business optimisation tool up with existing systems is fundamental to growth, as shown by research by financial blog Xero which found that companies with automated accounting systems are 33% more likely to have forecasted growth of at least 10% than those without. Optimisation can help planning at a strategic level, creating digital forms through content management systems and providing priceless information available to produce updates or reports for a General Accounting Plan which can be set periodically and according to geographic areas, whether that is a region, country, territory or a global overview.

How does optimisation fuel growth?

Organisations with optimised digital solutions are more likely to grow, evidence suggests.

Why should companies monitor their network?

Ensuring tight security when finance is involved is crucial, particularly as more documentation goes digital.

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