Attention business owners, managers and finance professionals! Have you recently stopped to consider the impact of developing automation technologies on your business?
I had my first experience of working in accounting 10 years ago in 2007. Invoices were received in the post, date stamped and manually entered into the system for payment. This was my entire job and it was a full time one.
Throughout the past 10 years, I’ve worked with a few different finance departments and they have all had the same processes – full-time jobs existed and still do exist where invoices are received in the post and manually entered onto a system for payment.
Since being introduced in the last 2 years to Receipt Bank, an automation software that can automatically read and sort invoices, it has become apparent that full-time data entry jobs will soon be a thing of the past. This will be a major saving in labour costs, but also on storage and filing costs.
Automation software is only going to get stronger. It seems that companies that do not embrace the change will lack efficiency, directly impacting profitability in comparison to their competitors.
Now is the time to look at how immerging business software can help you improve efficiency, profitability and stay ahead of competitors. Seeking to modernise your business requirements? Get in touch and see how we can help you.
Phone: +44 (0) 2033 97 77 55
Written by Jennifer McCaughan, Cloud Accountant 31/07/2017