What are 5 benefits that finance software could bring to your business?
What are 5 benefits that finance software could bring to your business?
by RUTH THOMAS - Nov 16,2015

Are you a small to medium sized enterprise tired of labouring over your accounts, staff wages and repetitive financial processes? You’re not alone – many SMEs waste a huge amount of time manually going through the different financial processes each month. Doing this uses valuable resources and takes an enormous portion of employee time that could be spent doing more important and useful tasks. Here's our 5 key benefits that financial software could bring to your business.

 

#1 – Automates payroll and regular payments

Using financial software to automate the payroll and other regular outgoing payments means that these will never get overlooked or processed incorrectly. This also saves the time that it would take to do manually each month, compared to setting it up to recur automatically.

 

#2 – Reduce human error

Despite some businesses not being prepared to make the change to using automated financial software, it could be detrimental to not do so. Undertaking all financial processes manually increases the likelihood of human error during data entry and throughout the process. Using automated financial software avoids inevitable mistakes when invoicing and making payments.

 

#3 – Makes the most of employee skills and resources

It’s not necessary to implement a completely new financial system to accommodate automated finance software. Most of the time, it can be integrated within an existing system and managed with in-house training, which makes it cost-effective to implement and beneficial for long-term use. This also means that staff members able to be more productive and work efficiently to manage their time more effectively.

 

#4 – Greater ease of use

Automated software will be specially designed to be user-friendly, and make it simple for all necessary employees within SMEs to gain access to essential information. Calculations are simplified by setting rules within different financial areas from asset management to VAT returns.

 

#5 – Transparency, reporting and planning

Financial automation software can also determine the way that businesses manage other areas in the future, since it can measure different elements of the finances to make it easy to produce reports and analysis. It also allows the management team to forecast different scenarios and recognise market trends. P+Ls and the balance sheet can be reviewed in real time and budgeting can be tracked and monitored through the management accounts.

SMEs that are not already using finance software may find that it bring a number of benefits to their business.

Give the Geeks team a call today on 0845 643 6229 to discuss your requirements.

About Geeks Ltd

Based in south London, we are one of the fastest growing software development companies in the UK. 

Our passion is business efficiency enhancement for our clients via smart application of automation techniques.We are winners of international awards for our innovations in business productivity. 

We have attained Gold Certified Microsoft Partnership level which represents our highest level of competence and expertise with Microsoft technologies as well as our close working relationship with Microsoft.At this level we have been granted access to exclusive Microsoft resources and support, access to the Partner Knowledge Base, and many other advantages which contribute to our capacity to meet our clients needs.