Top 3 Reasons Why Automation Matters
Posted on: December 22, 2014 | By: Craig Thompson | Intacct
As your business grows larger, from a single entity to multiple entities, retaining financial data and running consolidations begin to become extremely labor intensive and time consuming. So, what is the key to ensure that multiple entity reporting runs as smoothly as possible? The answer lies within automation processing. Here are the top three reasons why automation is essential for all growing businesses.
1. You Want More Time in Your Day to Focus on Productive Work – Consolidations are a lot of work, at times taking days on end to complete. With automated financial processing, consolidations can be performed with the click of a button – allowing you increased closing time, and more time to focus on productive work.
2. You Want to Eliminate Tedious Tasks – As a multi-entity business, you know that retaining financial data and running consolidations becomes extremely repetitive. Determining up-to-date dates, conversions, reevaluations and adjusting entries begin to become extremely tedious. With automation, these minuscule yet important tasks are taken care of, greatly reducing the amount of work done by hand.
3. You Want to Significantly Reduce Errors – Inter-company transactions can quickly become a nightmare at reporting time, especially if foreign currency is involved. With automation you have the ability to set up your complete consolidation structure, allowing your software solution to take care of the rest. This process entirely reduces the amount of human error. In addition, you will be provided with comprehensive audit trails, providing you a full record of the processes performed.
A growing business should be something to look forward to, not fear. By choosing a financial software that provides complete automation you will greatly reduce time and energy spent on grueling financial processes. If you’re looking for financial software that provides automation, take a look at Intacct, which has been proven to reduce close time for over 60% of customers.
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