July 29, 2019

Why Your Company Needs Comprehensive Accounting Software

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The financial integrity of an organization is the glue that holds it all together. Having a comprehensive software solution with deep financial capabilities at its core can change a business from the ground up. From saving you time to saving you money, the right solution for your business is necessary for success. Below are a few reasons your company needs an intuitive accounting software solution.

Time Efficiency

Owning and operating a business of any size is a time-consuming venture where it sometimes can feel like you’ll never quite catch up. A comprehensive accounting software solution frees up a lot of time that would usually be spent doing meticulous math and filling in spreadsheets. With an accounting solution that fits your business, you can eliminate wasted hours and put your focus back on building your business. Your to-do list can shrink substantially with the amount of time saved from doing things like chasing down accounts payable approvals or sending out invoices.

Financial Information at your Fingertips

Want to know how your business is doing, anytime, anywhere? A good accounting system will give you access to reporting and dashboards that are customized to answer the questions you need to run your business. If you are heading to a client meeting, a quick glance at a customer dashboard will let you know what their A/R status is. And you’ll find it easier to negotiate with vendors if you can easily identify how much business you’ve done with them over the past year – without having to call your accounting team.

Automate your Invoicing

Invoices are a necessary part of every business, large or small. Cash is king, and getting invoices out in a timely fashion and keeping track of collections can speed up your cash flow dramatically. Did you know the average small business spends about 130 hours each year managing invoices? You could be spending significantly less time sending and managing invoices and more time building your business if you had a software solution that was capable of handling it for you. An automated invoicing system built into your accounting software will automatically dispatch invoices, track them, and remind customers to pay their outstanding balances.

No More Missing Vendor Invoices

Have you ever had a vendor call, looking for payment, and you had to track down the manager who’s desk it was sitting on, waiting for approval? A comprehensive accounting system will let you route those invoices for approval to the appropriate manager and keep track of them along the way.

Ensure your Data Security

You store a lot of confidential information in your accounting system. You need to know that the information you’ve saved is secure and safe from anyone who might want to hack your system – whether they are trying to commit fraud, or just want to steal your client list. You need a solution that is secure from outside attacks and provides strong verification processes to gain access. Another security standpoint that is vital when choosing an accounting solution is making sure your information is all backed up securely and redundantly. If there is a natural disaster or an attack, you need to know your data will still be there when you need it.

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