Technology Advances and Your Business
We ran across this fun short story about the birth of the spreadsheet, and it really hit home.
It struck us what one of the accountants said when he first saw a demonstration of the spreadsheet: “I didn’t understand what was going on.” Now, most accountants use spreadsheets constantly. Spreadsheet software capabilities define modern accounting.
Old technology hangs on because people get comfortable with it or they just don’t realize there’s a better way. Some people handwrite letters to this day. Zach Galifianakis relied on a pager throughout The Hangover trilogy. That’s fine for grandmothers and fictional characters, but when a business clings to outdated methods, it wastes money, time, and resources.
Telephones rendered telegrams obsolete. Fax machines replaced snail mail; then email replaced fax machines. That may seem obvious to you, but Western Union didn’t discontinue domestic telegram service until 2006. As of this writing, Amazon has over 3,000 new and used fax machines for sale.
Sometimes, obsolescence isn’t so obvious. Businesses still use antiquated methods on a daily basis. Case in point: bills. Walk into almost any office at the end of the month, and you’ll find a finance person grinding through a needlessly laborious stack of paper bills.
A New Approach to the General Ledger
Looking at a point in history when spreadsheets changed business, we think to our own mission. Entryless has introduced new technology that changes the way a business operates—specifically, how it automates its bills. Our intelligent accounts payable system captures information directly from bills and invoices in any format and automatically updates your general ledger. Just as the computerized spreadsheet transformed the way people view their businesses, Entryless transforms the way businesses get financial statements —faster and smarter. Our clients are finding that it can be transformative to their work.
I hope and believe that someday, seeing somebody update his or her general ledger by hand will be as strange and outdated as receiving a fax. Make sure your business understands the way technology is changing, and don’t get left behind.