3 Automation Tools to Help Accountants, Not Replace Them
Accounting is changing. Gone are the days of manual entry, timesheets, and hourly pricing.
The digital age is here.
Blockchain, cloud accounting, and automation sound as scary as they do promising. Automating processes that accountants used to charge for, and making tasks simple and less time-consuming takes away much of how they used to make money.
As many cloud accounting firms and departments have shown us though, there are new and better things happening in the field because of the very digitization they fear.
Plus, if you can’t beat ’em, join ‘em.
Here are 3 automation tools to make accountants’ lives easier, in support of the robot-revolution.
- Customer/Client Experiences
Things have gotten personal in the customer service arena. Consumers are sick and tired of robotic voices telling them to “press # for more options,” and navigating unintuitive websites to find vague answers to their questions.
But it’s pretty hard to run a business, large or small, and answer every phone call personally. Especially if you’re a one-person operation.
Thankfully, many software companies have come to the aid of small and large accounting firms to combine the speed of automation and the personal service that clients have come to know and expect from small businesses.
Zendesk offers just that. A great tool used by businesses of all sizes, Zendesk’s automated customer service and support system uses help centers, chatbots, and artificial intelligence to give your clients the service they deserve.
Accounting firms can choose which packages and services work best for them, and implement the software accordingly. But don’t worry, you don’t have to give up all of your customer service duties to automation.
Even using Zendesk’s software to take on some of the inflow will help you better manage your time and tasks, while taking a few calls here and there.
2. Financial Reporting
For business owners, manually creating financial statements can be a pain. It takes a long time, they have to sift through piles of receipts they forgot about, and could really be doing better things with their time.
So, they hire an accountant or accounting firm to take the load off. But, that doesn’t mean that the time it takes to prepare a financial statement disappears. It just takes that poor accountant the same amount of time, while the business owner gets back to running their company.
Well, not anymore.
There are a ton of applications and a bunch of software that helps everyone, from small business owners to CPAs, automate the financial reporting process. While it does save you time, that’s not all you’re saving.
Many accountants have reported saving money by turning to automation tools such as NetSuite. NetSuite is the world’s leading provider in cloud-based business management software. Part of this, and one of its most popular parts in fact, is financial management. From invoicing to automatically creating financial reports, Netsuite’s software saves you money by saving you time.
Don’t want to pay an accountant by the hour? NetSuite. Want to work on multiple accounts at once and increase workflow as a CPA? NetSuite.
Plus, accountants can use this free-time to offer more services like consulting, financial analysis, and much more. The model is changing, so get with it.
3. Payments
While accounts payable might be a small portion of an accountant’s day, the process is crucial for the small businesses they work with.
Late payments can sever business relations, and no funds coming in can be even worse.
But, even for CPAs, it can be hard to keep track of every single transaction large and small. Plus, as with everything in finance, doing things manually takes a lot of time to get done right.
The process includes invoicing, collecting invoices, processing payments, tracking and being aware of all transactions sent and received by your client, and more. It’s a big job.
And when it goes international, it’s a whole different ball game.
That’s why many CPAs and accounting firms choose Veem.
Veem is a global payments provider built for small businesses, and trusted by accountants.
With 60,000 small business users in more than 96 countries, we’ve got to be doing something right.
Our payment tracking technology allows you and your small business clients to see where your payment is, where it’s going, and when it’ll get there through our easy-to-use dashboard.
Our platform is integrated with popular cloud accounting softwares like Xero, NetSuite, and Quickbooks for easy document importing.
There’s no time like the present. Sign up today and let your payment worries wash away.
This content was originally published on the Veem blog. Check it out for more information and exclusive articles.
