Systems & Automation: why should I care?
Automation enables your workforce to focus on better things. It's also important and necessary when viewed against the Making Tax Digital changes soon to be implemented by HMRC - you can read more about this here. Financial accounting is a fantastic thing to automate anyway, because it's repetitive, time-consuming and doesn't make use of your team's valuable expertise.
Cloud Accounting is a huge time saver
Cloud-based tools such as Xero and Sage Business Cloud have ushered in a new age of integrated accounting - accounting ledgers and payroll work seemlessly together. These solutions are already saving accountants and bookkeepers countless hours through the machine learning 'rules' based accounting, which comes as standard as part of the package. With AutoEntry, the time savings can be more than 75%.
We think AutoEntry is the best tool on the market to get invoices from your smartphone to your accounting system in one click. On top of this, advanced robotics automation and blockchain have the potential to completely transform the accounting function for the better. But despite the benefits, many SMEs find this kind of technology daunting and easy to ignore.
We can help to nurture your change culture
We believe in helping organisations to overcome the obstacles that prevent them from benefitting from new technology. We also believe it’s important to set expectations: implementing a technology requires an initial spike in effort followed by a decline to a faster, more efficient norm, as users adapt to how it all works. To accelerate this, Finacta provide high quality and free user training for any company that implements a new accounting system or tool through us.
This isn't just on-trend, it's important
All SMEs should have access to the best accounting services and technologies, while retaining all the benefits of a traditional accountant. SMEs will need to become more focused on technology and automation to ensure numbers are recorded accurately and in a timely manner, to meet the more frequent digital submissions soon to be required by HMRC's MTD initiative.
We have seen an increased need for project-based expertise. Furthermore, projects in Business Intelligence are forecast to grow substantially in the next five years. To us, that indicates that businesses are taking a running jump at the accounting challenges that face us in the near future. As such, if this is something you're keen to look into, we'll always be happy to help.