Ways Tech Can Transform your Practice Through Automation
Developments in technology are beginning to change the way we work. Integrating your accounting system with useful technology such as optical character recognition (OCR), CRM software, expense management tools and management information systems can significantly streamline business processes and bring efficiencies that will improve life for everyone.
By bringing together different software functions and uniting them in one centralised system, you can automate more processes, become more joined-up in your approach to business and adopt an informed business strategy that will aid growth.
Allowing once-separate processes, such as customer data entry and expense management tasks, to take place side by side is revolutionising business practices. Integrated software systems can save valuable staff time, simplify the tasks that still fall to human workers, and lead to more accurate, real-time snapshots of the business as a whole.
Cloud accounting software like AccountsIQ are naturally suited to integrate with other software. With an open API that makes partnerships easy to forge, we have a number of integration partners such as Salesforce CRM, iSAMS, TransferMate Global Payments, AutoEntry, Kefron AP, iCompleat, Fourth, Concur expense management software, and many more. With all your systems integrated together, you can experience a truly efficient and streamlined business that can fully focus its resources on making great decisions to move forward and grow.
CASE STUDY: FRENCH DUNCAN
The potential benefits of new technology can be illustrated neatly with the work AccountsIQ has done with practices such as French Duncan. The company, which produces regular reports for its clients based on the unique needs of the hospitality industry, integrated an automated data system (AutoEntry) with its AccountsIQ software.
The result? An immediate saving of a phenomenal 500 hours a month, which would previously have been spent on data entry tasks. Of course, in addition to freeing up staff resources, automated data entry also improves accuracy by eliminating the chance of human error.
We process between 3,000 and 4,000 client invoices per month using AutoEntry integrated with AccountsIQ, freeing up the time of two of our members of staff. Because the system is so simple to use, we are able to bring in entry level staff to operate this process.
It is a safe and affordable means for us to offer apprenticeships. It gives those junior members of the team a comprehensive understanding of how accounting processes work and allows them to progress really quickly. It considerably reduces the risk of human error, relieves tedium and saves time which, ultimately, we will be able to reflect in our time charges to clients. Ian Bremner, Director of Hotel Accounting, French Duncan
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Download our Demystifying Finance Automation guide - for best practice advice to find real efficiency with the technology available today. This guide will help you identify your needs, explain how to select the right finance system for you, and guide you through the process. It will also outline some of the complementary technologies that can help you maximise the efficiency of your finance function.
Download our Systems Integration in the Cloud guide - this guide explores the impact integration strategies in the Cloud software market (and the low cost of entry) might have on the multi-billion dollar ERP space. Can the Cloud bring real ERP-type rewards? If so, which types of businesses are most likely to benefit?