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5 ways to save time with new accounting software

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François Geerardyn
Sales Engineer

Time is money, it is often said, and who would invest in a product without a profit at the end of the day? It is for these reasons that we have listed below five ways to save time.

It is typically this state of mind (Time is Money) that is necessary to have in mind when you are thinking about a big project to change accounting and financial management software. More specifically, each step of the change process should be taken into account so evaluate the added value in terms of time savings.

The investment made, plain and simple, must be able to assure the company that it will shorten the time of certain processes but also optimize them to be more profitable. Indeed, who would invest in a product without any profit at the end of the day? For these reasons, we have listed below five ways to save time with new accounting software: automation, digitalization, communication, integration and customization.

1. Automation

Some accounting tasks sometimes seem redundant, machine-like, without added value and take a lot of time to complete... I am thinking in particular of the encoding of the invoices. What if we came to automate this? Indeed, the automation of tasks deemed "repetitive" will no longer be carried out by the accountants but by the accounting software. Moreover, you don't have to worry about losing your job because of the automation, since the people concerned will be asked to concentrate on tasks with high added value such as reporting or in-depth analyses.

2.Digitalization

The second point addressed is the digitization of accounting data. First of all, all invoices are centralized in the software. Input and output flows are processed digitally. It will no longer be necessary to store invoices in cupboards or to send envelopes to customers. Also, and this will be developed further in the next chapter, the search for information is more efficient since the data is accessible with one click.

3.Communication

Good corporate communication is essential and saves a lot of time. It is through this channel that processes move forward, develop and come to fruition. However, this is often where the problem lies. Typically, the example to make this clear is the management of messages or approvals in the company. In how many offices do you see a multitude of post-it notes lying around? How many exchanges between different departments are necessary before an invoice is actually approved? A quality accounting software that wants to be up to date has to have excellent communication. Centralizing the means of communication under the same tool saves time and therefore money.

4. Integration

Depending on the specific sector of the company, business software is often required. Many companies with business software have basic accounting tools but not enough to add value. Typically, a good accounting software will interface perfectly with the business software so that the exchange of information is optimal. There is nothing worse than badly managed data import-export due to the interface. To do this, the accounting software often needs to be tailored to the business software because each of them has its specificities. This is developed in the next chapter.

5. Customization

Each sector has its needs and each need is specific. Obviously, any accounting software must have standard and basic functionalities. Any software you choose will allow you, for example, to encode invoices or to consult the list of your customers/suppliers. However, depending on the sector and the company, specificities appear. Getting your specificities to be digitized, automated or to communicate perfectly with the business software for example, will make your life much more beautiful. There is nothing more satisfying than to see your software fully adapted to your company.

Conclusion

The five ways cited show the time savings that can be made by using accounting software adapted to one's sector. Don't say "accounting is encoding information", say "accounting is analyzing information". Finally, the five points mentioned, which are closely interrelated, tend towards the same goal: the notion of taking a step forward, of changing our way of seeing things in terms of accounting.

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