10 Ways Automated Accounting Can Help Your Organization
Probably you know that automated accounting processes are more efficient than manual processes. And yet many businesses and nonprofits hang on to old, familiar accounting methods involving manual data entry, spreadsheets, and basic financial tools like QuickBooks.
One reason for maintaining the status quo might be that organizations don’t realize the full range of benefits of automation. With that in mind, here’s a list of 10 benefits of transitioning from manual accounting processes to advanced software solutions such as Sage Intacct that automate key processes.
1. Save time
If your month-end closes are taking most of the month, it’s time to consider automating your accounting processes.
2. Focus on what matters
When employees no longer have to spend hours on mind-numbing manual tasks, they can instead devote those hours to strategic efforts that add real value to your organization.
3. Reduce errors
Automated accounting alleviates common data entry errors and ensures that every task is performed identically, so you and your clients or customers can trust in the numbers.
4. Lower costs
Manual tasks require more employee hours every week, month, and year. Automation makes you more efficient—and helps prevent errors that can lead to unexpected additional costs.
5. Make better decisions
By automating billing, collections, sales, and other processes, you can record and report on key metrics in real time, so executives have all the information they need to make smart decisions.
6. Reduce risk
Automated accounting solutions help ensure that you’re always in compliance with the latest regulations, as they’re automatically updated to adhere to the latest guidelines.
7. Be more secure
Top accounting software providers follow strict security protocols to ensure your organization and its data is protected against data breaches and other security threats.
8. Improve service
Manual processes lead to mistakes and oversights, like late payments to vendors and overlooked bill payments. With automated solutions, you can provide more reliable service to customers, partners, and your own employees.
9. Better audit preparation
By automating your accounting processes, you can prepare more effectively and efficiently for audits, ensuring that you have all the documentation you need to make the process as painless as possible.
10. Improved cash flow
By reducing the time it takes to get approved expenses into your accounting system, you can reduce the time between paying the credit card and getting reimbursed by the client.
Is it time to automate?
Insero & Co. can help you determine if it’s time to automate your processes and if so, help you make the transition as seamlessly as possible using best-in-class software. Contact us to talk about the relationship-based services we provide and how they might help save you time and money every month.