The era of tech transformation is pushing businesses to digitize several tedious processes. Moreover, amidst the race to grab market share, there is no doubt in the role that technology plays in a company’s success.
Businesses worldwide are digitising tedious business tasks and back-office tasks are topping the charts in this regard.
However, a combination of knowledge in accounting and technology is paramount that leaders and management teams must possess. Leveraging technology to manage business accounts is gaining more significance. This is a rare skill and thus leaders with a keen vision of successful businesses are rapidly outsourcing accounting to experts. Account outsourcing is a growing market in countries like Singapore and businesses are mushrooming faster in such countries.
Also Read: The best way to get the accounting tasks sorted is by outsourcing it to the experts who have been there and done that, time and again. Click here.
The strive to digitize accounting processes owes to its plethora of benefits and this is an article that will help you navigate through a few of them
Digitising accounting rules out the chances of errors
Accounting covers vast areas of monetary transactions in any business. It includes payments, dues, collections, taxes and so on. Auditing of accounts is also another tedious task that runs parallel to these. Enterprises need specialized, experienced accounting experts to seamlessly manage complicated transactions and also monitor P&L for the businesses they work with.
The tasks are tough and time consuming that require special attention and proficiency in the arena. The large amounts of paperwork involved tend to pose high risk of errors that can be daunting to key stakeholders. Thus, digitising accounting is crucial in the journey to make accounting tasks error free, thereby providing better visibility.
Cloud-based accounting is making waves in the market as it offers professionals to effectively streamline processes and automate many tedious manual accounting tasks and assists in doing so precisely, ruling out any chances of errors.
Digitising Accounting Enhances Visibility of Your Accounts
Yes, you read that right. Keeping records of all your accounting transactions and your business results includes tremendous paperwork that is done traditionally. It gets painful for anyone to track records and also get notifications from the accounts team as to what is being done.
Digitising is the right solution as it not only empowers you to stay on top of every transaction and its implication on your business books, but also helps you to strategize better for the coming days.
PikoHANA offers its AO Dashboard that skillfully assists enterprises to access every detail of their back-office tasks. Every action taken, every transaction performed and the future course of actions are clearly projected through the AO Dashboard.
While the experts manage the accounts, leaders and managers of your organization get to access the accounting details on their devices, anytime and anywhere.
PikoHANA’s AO Dashboard offers visibility on the below mentioned areas:
- Key Financial & Operational Metrics
- Current And Projected Working Capital And Cash Position
- Financial Reports Including P&L Vs. Budget
- Trend Reporting
- Balance Sheet And Cash Flow Statements
- Client Invoicing
- Outstanding Receivables
- Compliance Checks and more
AO Dashboard is crafted by experts to offer end-to-end transparency into your business from an operational and financial standpoint, all at the same time.
Digitising Accounting can help you save time and money
‘Time is money’ is indeed a popular phrase and quite cliche at the same time. But it is also a fact. What if I tell you that you can save both time and money and incur huge benefits by digitising your accounting? Yes, it’s possible. Here is how.
Firstly, to get your accounts work done with efficacy, you need to have experienced professionals who can decrease the cost to the company. Digitising and outsourcing accounting to experts with knowledge in technology can reduce your expenses and augment results. You can get a whole team of professional accountants at the cost of hiring one professional in your company.
Secondly, teams that have already worked for several companies know exactly what your enterprise needs to grow faster and better. You can work closely with them and curate strategies that best suits your enterprise’s needs.
Thirdly, you get to leverage the potential of best in-class technology that can enhance your financial status through value driven accounting strategies. The experts would guide you with the use of technology that you may not be aware of or may not have enough bandwidth to use and get the results you want. This would help you save money on the infrastructural costs.
Last but not the least, you can save time on tedious accounting tasks and focus on what you are good at. You can give more importance to business development and marketing, build your teams and a full-fledged enterprise of experts. You can focus more on delivery, relax and grow your business the way you always wished to.
Learn more from the experts who have been helping SMEs for years to augment their business outcomes with the help of digitised accounting processes. Book a 30 minutes free consultation.
The above mentioned benefits are just a few. Digitisation of back-office operations holds a pool of opportunities. It is time that enterprises explore technology-driven outsourcing to transform their businesses and run it to its full potential.
What are you waiting for? Book a 30 min free consultation with the accounting and technology experts now. Click here.
Also Read: Advantages of Hiring the Best Account Services Provider in Singapore. Click here.