Automation is inevitable. It’s overtaking a lot of tasks in a variety of industries, and accounting is only one of many. While automation will give accountants something new to learn, creating a process of adaptation and changing the structure of their jobs, it also has its advantages. By automating as much as possible, accountants will be more productive. Focusing on clients and outreach efforts is easier when the menial tasks are being handled in the most efficient way possible.
1. Lead monitoring
Independent applications can be used to help you monitor your leads. How many of your leads become active accounts? What is your return on investment? Instead of manually working the numbers, use a tracking tool. Just plug in what you need as it comes in, and review the reports it spits out.
Automated invoicing is so popular, you’d be overwhelmed to see how many software programs exist solely for this purpose. Some comprehensive invoicing automation software will also allow you to view your cash flow based on your income and expenditures.
3. Document collaboration
When you’re working with a client and documents need to be revised and signed on a regular basis, things can get complicated. Rather than printing new material and scheduling new meetings, just use a private Cloud based file sharing service. Your customers will be able to view documents from their homes, digitally sign them, and drop them back to you.
How much manpower are you using to manage your tax situation, handle payroll, and deal with compliance issues? The short answer: probably too much, unless you’re automating it. There’s no way to skip it, and you’re losing valuable time going through the tedious routine. Outsource this process to an outside consulting firm, and let them handle it.
5. Social media
Everyone has to be active on social media these days. It doesn’t matter what business you’re in. It’s a vital tool for keeping your firm fresh in the minds of customers, helping you build a stronger brand relationship with your client base. Since virtually everyone uses social media, keeping an active presence can even help you recruit new customers. Instead of devoting a portion of every day to writing new posts and curating content, use a management suite. You’ll be able to prewrite content at the beginning of the week that will automatically be posted at a time you’ve set.
6. Data entry
Data entry is time consuming, and it’s inevitable that some errors will be made in the process. Start using a capture system. Simply scan the documents you need with an optical character capturing device and allow the software to convert the documents for you. If you have any concerns relating to the accuracy, you can view the captured transcript beside the scanned document on your computer screen to make comparisons. You’ll be able to export them in a variety of formats.
7. Phone calls
When you need to send out a mass message that’s relevant to a large number of clients, you shouldn’t be calling them all individually. Create one message, and send it out to the affected clients via automated phone call. If the client doesn’t answer, the message will be left as a voicemail.
With so many of your tasks being automated, your workplace will change. Employees will have more time to focus on the small details and have room to innovate the inner workings of your firm. Welcome to the future.
Marleen Anderson is part of the team behind Saxons, Australia-based company providing IT support services and IT training. She is a great technology addict with huge interest in entrepreneurship.