Automation and Outsourcing: The New Normal

Posted by Joseph Himy
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By now, we’re used to interacting with machines instead of people as we go about our day. From ATMs to Alexa, we just take for granted that we can get acceptable results from an interaction with a computer—and sometimes even superior results.

The amazing thing is how many areas of business that were formerly considered “automation-proof” are becoming increasingly handled by software ‘bots instead of humans. One area where automation has proved to be nothing short of a revolution behind the scenes is software automation of accounting processes.

As providers of accounting and financial services, you can bet we’re following these trends very closely.

There’s a revolution going on in finance and governance.

Forget the green eyeshade and cuff protectors—your latest accountant may have silicon nerves. Accounting automation software handles complex financial tracking and record-keeping with ease—even helping with the analysis part of the job, such as flagging outliers in transaction records and performing other sophisticated tasks.

The most significant impact is the way it takes over the grinding work of entering and processing data—fully integrated back office systems handle that load—while it frees accounting professionals to take on a more strategic role in identifying trends, advising senior leadership, and future-proofing their clients.

Financial closing can be accomplished with a click, and management of expenses and other costs can be accomplished in minutes instead of days—or weeks—using traditional methods. Records are searchable in seconds online, and file storage is cloud-based and secure.

In addition, the leverage of automation and cloud-based services with mobile and desktop interfaces means more companies can enjoy the advantages of dedicated accounting teams, “virtual CFOs” or remote financial oversight partners, and the ability to keep an eye on their financial systems from anywhere.

Meanwhile, accounting services firms like ours can work with more clients with the same staff while continuing to provide the same excellent service their customers have come to expect.

How does this affect you?

CFO Squad has begun implementing software automation of accounting services. We’ve adopted solutions from Sage Impact, a leading provider of accounting automation, remote access and reporting tools.

We use these systems to empower our virtual CFO service and remote accounting capabilities, meaning closer integration and more options available to our customers, with greater efficiency than ever before.

We started with our healthcare clients, with great success. We’ll shortly be rolling out this integrated service to our SaaS and software industry clients, and then to a broader range of service industries.

Are you a good fit for this approach?

If you’re in a fast-moving, distributed, service-providing industry that depends on agility, flexible business processes and real-time analytics, you may be a great fit for a financial services automation solution. Would you like to put your accounting and financial data to work as a strategic tool? We’d love to talk with you.

We’re ready to help when you’re ready to start. Call us 845.613.3394 or email [email protected].