We’ve written before about the many benefits of automating your financial processes, including saving time and reducing costly errors. As we head into 2021, let’s take a closer look at three of the tedious finance tasks you can automate in the new year with the help of products like Sage Intacct, the best-in-class cloud-based accounting software solution.
Invoicing and accounts receivable
How much time do you spend every month generating and sending invoices, reconciling them against your records, and reminding customers and vendors that their payments are late? Every part of that process can be streamlined with automation.
Sage Intacct integrates easily with Bill.com and other common applications, so you can keep all your accounts payable and receivable processes in sync in a single inbox. Plus, you’ll gain more control and visibility into every step, with any changes between single and multi-entity accounts made automatically.
Expense reporting
Expense reporting is a headache. Employees are often slow to fill out their reports, managers don’t enjoy reviewing them, and finance teams spend untold hours reconciling every report and issuing reimbursements. All of that makes automated expense management an attractive option.
Sage Intacct integrates with expense management tools like Expensify, which can significantly reduce the amount of time it takes to report, reconcile, and reimburse expenses. A single customizable dashboard gives you an accurate, up-to-date picture of your expenses every day of the month, which can also help with planning and reporting.
Payroll
The larger your organization, the more complicated your payroll management is likely to be. It takes hours every month, and it’s a high-stakes endeavor: Employees understandably expect to be paid on time, every time, at the right amount, with the benefits they expect. That’s a lot easier to do with an ERP solution like Sage Intacct.
With Sage People as the single system of record, you’ll have one source of truth for your HR and people data, so you can be sure of consistent, accurate compensation information across every payroll.
Sage Intacct integrates seamlessly with a variety of finance and accounting systems to automatically pass workforce-related costs to journals and accounts. With on-demand reports, dashboards, and analytics, you can easily keep track of all your payroll, compensation, and benefits data.
Learn more
Insero & Co. is a public accounting firm with decades of experience working with businesses and nonprofits of all sizes to improve processes and automate tedious finance tasks. Our experienced experts are available to provide consulting and other remote services—whatever your organization needs to get through these difficult times and toward growth and success in 2021.
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About the Author: Kimberly Gangi
