Automation can make a big difference in the effectiveness of your accounting firm. However, roadblocks can get in the way of adopting new automation technology. These obstacles aren’t just technological. Policy and intra-firm politics can also get in the way. How can you best overcome the obstacles to adopting more automation and taking your accounting to the next level?
1.- Learn the Technology
Modern accounting is moving to the cloud. Accounting software packages such as Xero, QuickBooks Online, and Zoho Books are entirely cloud-based. The advantages of cloud technology are numerous, but one of the most important is that cloud services interact seamlessly, increasing automation. Entryless, for example, syncs with your favorite cloud accounting software to automatically process bills.
2- Learn the Numbers
Automation saves accountants significant time and money. Understanding the costs associated with old-fashioned, manual accounting procedures can motivate you to make the change. If there is resistance in your organization, the numbers make a compelling case for automation.
For instance, manually processing 300 bills can easily take 20 hours and cost over $400. Automatic processing eliminates the man hours and the costs, which is a huge savings. Manually writing checks can cost up to $12 per check! The savings offered by automation add up quickly.
3.- Understand Your Needs
Accounting automation is reaching the point where accountants need to adopt the technology before they are left behind. You need to understand the needs that new technology will meet, and luckily many other accountants have been down this road before.
It’s also important to understand the needs of your clients, who will soon appreciate the higher value you can offer through automation. With less of your time tied up in tedious manual processes, you can spend more time providing valuable financial insights to your customers.
Automation in accounting is only going to increase. Understanding the benefits and savings of automation adoption is important in keeping your business growing and relevant in the future.