Technology for Numbers

Technology Creates Efficiencies

Technology for numbers makes numbers easy work for the success of a business.

Use technology to make sense of the numbers in your business. Allowing the financials to create dream-worthy elation is often an entrepreneur’s desire. An entrepreneur is often faces an inability to address the back office tasks of bookkeeping. The entrepreneur needs to assess what their time is worth and allocate funds for efficiencies. Efficiencies allow a business to grow.

Eliminate back office tasks which result in midnight nightmares and weekend migraines.

To make numbers work advantageously, the process of handling office paperwork needs to change. Properly handling paperwork creates back office efficiencies. Efficiencies lead to success. A big piece of that change is utilizing technology.

Is your business taking advantage of technology?

If your business does take advantage of technology, kudos!

If your business doesn’t, take head!

Using technology is the best way to obtain back office efficiencies.

Employing technology can include a point of sale (POS) system, online bill payment, and an online accounting platform such as QuickBooksOnline or Xero.

When a shift to technology happens, levels of spending in particular areas may change. For example, if a change in the accounting platform happens, costs for software will be constant from month-to-month. That’s in contrast to large spikes in spending when you had to upgrade previous desktop software to a newer version infrequently.

Likewise, if a business shifts to paying vendors through a bill payment service, the cost for check processing will greatly diminish. You realized a comparatively small fee for an efficient service. For example, if you integrate a service such as bill.com into the task of vendor payments, you reduce the following costs greatly by elimination:

  •         Labor to process check payments, sort paper, and stuff envelopes
  •         Office supplies for check stock and envelopes
  •         Postage for mailing payments

That’s not to say that labor needed for back office tasks is eliminated. People are still needed, but there is additional technology that will further create efficiencies.

Hubdoc is a marvelous document collection and management software service.

The company is known for the ability to fetch documents. After establishing a connection between an online service and your account with Hubdoc, documents such as bank statements and bills will be fetched and stored automagically.

As well, you can take a picture of a receipt and upload it to your account. Once received in Hubdoc, the receipt can be processed for expense and payment purposes. Syncing to QuickBooksOnline or Xero is a cinch.  And all of those documents that are received by email—forward them to Hubdoc.

Forego fretting over lost financial documents. Hubdoc is the great filing cabinet in the cloud. And Hubdoc will share with other platforms such as Google Drive. That makes it easy to share documents and collaborate.

Establishing the use of technology is no easy feat.

Consult with an expert that can analyze your current workflows and suggest ways for your business to realize efficiencies that are the best fit for your particular situation.

Make the numbers work by creating technological efficiencies for back office tasks.

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