Business productivity tips for finance teams

23rd Sep 2020
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Could digital technology revolutionise your finance function?

Digital transformation solutions represent a fundamental shift in the way companies do business by automating processes, introducing new insights and working more efficiently.

Digitalisation brings many different benefits. One of them is boosting business productivity by saving companies as much as a week of staff time every month. Our AES case study demonstrates how digital transformation with AccountsIQ provides a number of features that offer substantial time savings, with the ability to automate processes that would otherwise be done manually. 

New digital technology is now introducing innovative new ways to support growth and improve efficiency, so what digital transformation solutions do finance directors need to know about?

Here are some of the most effective solutions you could introduce within your company this year:

1. Fixed asset management

Manage your fixed asset register with ease, using a digital Fixed Asset Register tool. You can save time by automatically calculating the depreciating value of your assets, keeping your records in order and forecasting future expenditure.

2. Expense management

Recording and reimbursing expenses is a complicated and lengthy practice within many organisations. A digital expense management app is a quick and simple way to reform the whole process, streamlining the system to offer an efficient and painless way to deal with expenses, reducing time spent on admin for all involved.

3. Invoicing management

Want to reduce the amount of paper processed within your company? OCR technology uses the latest optical character recognition capabilities to scan paper invoices, eliminate manual data entry from the invoice management process. Automatic invoice capture and approval can free up staff time and reduce the wait for invoices to be approved.

4. Workflow approval

Providing employees with remote access to allow them to work from multiple locations is especially important for organisations these days. Mobile apps like the AccountsIQ workflow approval tool are designed to work on smartphones and tablets, so that you can login and manage workflow when you are away from the office – enabling a more efficient approval procedure within your company.

Would you like to know more about AccountsIQ? Request a quote or view the features of our Cloud accounting system for yourself.