According to the American Productivity and Quality Center (APQC), nearly 3 in 4 organizations have an active accounting process transformation project underway. Embracing technological changes creates long-term benefits for both the employees and the company. We’re here to show you that you can break into accounting automation without creating havoc to your company’s accounting processes. In five steps, we’ll have you rocking and rolling.

Like the transition from abacus to the calculator, the accounting industry has been eagerly embracing the changing technology, making their lives easier. One such technology is Automation. The key stakeholders in the accounting industry have realised that automation is simply the next step in accounting evolution. Automation in accounting has opened the door to a better reality, yet there is so much more to be discovered, understood, adapted, and applied.

Over the years, automation technology has revolutionized the world including our personal and professional lives. Automation is one of the reasons why some firms are growing 3x faster than the rest. The software enabling automated processes brings greater opportunities to the shore as it reduces routine and transactional tasks, allowing you to focus on core services. Therefore, companies have started to understand the true potential of this technology and are gradually transitioning to process automation throughout their services.

With advances in cloud computing, SaaS has become the de-facto standard to software distribution, and this goes for accounting practice management software too. A SaaS-based accounting practice management software offers various benefits over traditionally hosted software systems. The cost of monthly subscriptions is a lot lower than that of software acquisitions. You don’t have to pay any upfront fees which lowers the barrier to entry.

With so many practice management tools out there each promising to make your accounting firm more efficient, finding that one perfect solution for your accounting practice can be a daunting task. If you’re seeking the best price to feature ratio, you may miss out on features crucial to your practice. If you mix and match, you may end up spending unnecessary time switching between different tools. Ideally, a practice management software must have these features in 2021:

Not long ago, running a successful business was a variable of hiring the right people. As far as you had the right people working in the right positions, your operations would equal clockwork. That started changing as a reality when businesses started seeing the need for comprehensive software solutions to make processes efficient.

Taking the help of software is very crucial to manage all the business processes of any organization. With time, technologies have advanced and adapted new angles to look at problems. Technology advancement helps to reduce the time of the processes, makes it easy, and improves the outcome.

We hope you and your team are doing well. We are working hard to build tools that will help your business resume at its full capacity of excellence, as soon as the pandemic settles. The visionary operators in the Accounting Services business already knew that the industry was up for disruption.

Since its inception, modern software technologies have made a chief impact in the workplace, especially in the field of business. They can change the way you work and revolutionize your organization’s work culture as well. However, these are not the only way in which software programs can benefit your company.

In one of our earlier blog posts, we expounded on how professional services firms can harness cloud applications' power to organize their companies amidst the COVID-19 effect. Some firms have a culture of establishing cause and effects. Till they are haven't pinned down the necessary problem, they will not proceed with adapting the right solution.

Being in the accounting services business has never been easy. Clients expect you to protect their revenues, provide the necessary advisory, and be available for all the financial firefighting. COVID-19 has affected a lot of this in one go. Most accounting firms counted their productivity and the scale of work they could take, on the basis of how many people they employed.

Howard Marks, a legendary investor, says in his famous memos – it is nearly impossible to forecast the future accurately; but, you can still prepare for it. The COVID-19 effect has been on the businesses that have been left exposed due to outdated enterprise management infrastructure.