September 1, 2022
Are you still managing the cash flow with manual bookkeeping?🤨
Considering how the world is utilizing advanced technology in every sphere, accounting processes are being revolutionized as well.
According to research by Oxford Academics, the accounting industry has more jobs at risk, like 54%.
This means that all the manual clerical work will totally depend on automation softwares. There are many ways to automate your accounting process, but let’s start with what you are looking for in this blog!
You can improve cash flow from negative to positive with the help of technology! How?🤔
We are talking about Accounting Automation!
You already know how important it is to maintain control of cash flow, Right? Keeping track of spending and funds is crucial but also challenging!
More than 80% of small businesses collapsed because of cash flow problems. (Reports)
As a business owner or as an accountant, you always want to maintain a positive cash flow, so you never run out of cash!
Well, accounting automation is here to help!🥳 Let’s see how it can help you and your business.
After speaking to some business owners, accountants and CAs, We have analysed some ways to improve cash flow using accounting automation. Read through the blog to see us spilling our secrets!🤭
It is a process which is responsible for managing debts and invoices of companies or clients. Unfortunately, the AP team often faces multiple challenges in the course of their daily work.😐
What are the challenges for AP team in manual accounting?
How will accounting automation overcome these challenges?
Key Takeaway: You can automate the accounts payable process, pay all your bills, and invoices on time, get discounts, and reduce errors- this all sums up to eliminating extra costs and more money!
Read More: How to automate accounts payable with accounting automation in 2022?
Getting paid on time is very important to save your business from negative cash flow.🤓 Accounts receivable automation is simply a process to automate all the tedious and repetitive tasks of your accounts receivable team.
What are the challenges for AR team in manual accounting?
How will accounting automation overcome these challenges?
It is very important to keep your data organized to know how much money you’ve owed, by who and when they are expected to pay. With the help of accounting automation software, you can keep track of all this data.
Key Takeaway: Get paid on time and reduce the risk of ghosting! Build better communication with clients with the help of accounting automation software and no need to worry about late payments. So that is how you can never run out of cash.
Not literally!😅 What we mean to say is analyse all the activities done by your company or your business. Analyzed reports give you a clear picture of where your business is doing well, in which areas you need to improve!
How will accounting automation help you analyse?
Keep track of all your activities with an automation tool which provides a CRM integration within. It will help you analyze
Key Takeaway: The clearer picture of your business/your data will help you plan better! Which will improve cash flow for your business.
We really hope that you find this blog insightful.🙂
If you are looking for accounting automation software, then no need to go further! We got the best solution for you.🤩
Suvit is a solution that you need to implement in your manual accounting process.
It is automated accounting software which eliminates all your clerical work so that you can focus on more important tasks!💯
Suvit offers a free trial of 7-days. Signup here!
Avail all the benefits! No credit card required!
To join the daily demo meeting at 4:00 PM IST: Click Here!