How automation can help your accounting firm grow

• Vidit Agarwal
• March 25, 2022

Do accounting firms really need automation? The only right answer is, yes!

In a Sage report, 31% of UK accountants have stated that automation is going to impact their practice the most in the coming years while 70% of the accountants have already acknowledged that automation is helping them boost their productivity.

Another Sage report says that technology literacy is the most critical skill accountants need in order to grow and shine.

If you are yet to graduate to accounting automation, it’s the right time to start.

How automation can help your grow as an accounting firm?

Yes, accounting automation can prove a game-changer for you. If you are yet to graduate from traditional accounting to automation, it’s the right time to start.

How automation can help your accounting career?

Accounting automation can be a multi-faced idea where you can automate every manual process through a software to save your time and efforts doing redundant tasks.

You can collect and arrange all clients’ data, documents and reports automatically to make them easily accessible to you whenever you want. You can save hours by an automated data entry and data processing flow ensuring no human errors. You can reassign and notify your team members and clients when you have something ready for them to check or review.

The opportunities are endless. You just need to take a leap of faith and start today.

• Save time on menial tasks: For any accounting firm or independent consultant, the most amount of time is spent on financial closing and client management. With automation, all these tasks and processes are just a click away. No need to go through all the historic data and collate them manually. An automated system will help you export everything within a few seconds.

  Imagine the opportunities with the preserved time to get new clients and upscale your business!

• No human errors: We are human and we tend to make mistakes. But when it comes to accounting, even the smallest of errors can have a great impact. One of the main advantages of automation is, you can avoid all errors during data entry and data fetching. An accounting automation system can complete hundreds of ledger entries within a few seconds with zero computing errors. With a completely automated process in hand, you also won’t miss sending out important communications. Thanks to the system-generated automated alerts.

  What can be a better way to manage and serve multiple clients effectively?

• Increased productivity: Accounting automation offers you additional time to grow your business as you don’t have to spend hours on menial jobs. This directly affects your productivity. You can gain more clients, nurture your existing clients by offering better services, partner with different businesses to help them grow financially and focus on future business goals.

  With an efficient automated system, you can expand each day.

• Data security and storage: Accounting firms need to store records for years, in many cases for more than 10 years. Automation helps you obtain and store paper works safely and effectively. All you need to do is enter the data into the ledger and you are good to go. The software stores the data and documents for you which you can access anytime and from anywhere without any fear of security breach.

  Gone are those days when you had to rifle through hundreds of files to find one document.

Over to you: Embracing automation does not impose any threat to the new-age accountants. Instead, you can use it to revamp your work processes to grow your business. It empowers you with a full-proof streamlined system so that you gain new clients and manage them seamlessly with minimum effort and time.