The bookkeeping landscape is changing — is your firm prepared to keep up with evolving technology? New tech is proving to have a variety of benefits for an industry once thought to be staunchly traditional. With the power of great tech, tasks that once ate into our time budget can now be simplified, human error can be reduced through the power of automation, and how we view the workplace is shifting.
Here are some of the ways bookkeeping firms are taking advantage of new technological offerings – and some helpful tips for how you can get started following in their footsteps!
Data Entry & Analysis
Throughout the busy season, the number of clients and the volume of projects you have can make your life… pretty difficult. That’s where new technology can help you. Tech can now comb through massive amounts of data and analyze those numbers in very little time. Natural language processing can take financial information from documents automatically, freeing up your time so that you can focus on your clients.
Traditional payroll may now be a thing of the past. Because of full-service options like Gusto, payroll duties that could otherwise eat into your workday can be automated. Automated payroll processes also improve compliance at your firm, the human error-free work of machines taking away the possibility of costly mistakes.
Cloud-based software has made huge waves in the bookkeeping world. Good accounting software can help your firm to manage financial information. Some accounting software allows you to manage daily tasks through time trackers and procedure checklists. Are you interested in trying out an accounting software? Don’t miss our free trial!
We’re all probably familiar with the plethora of work-from-home options that emerged at the height of the COVID-19 pandemic, but many of those technologies have proven to have staying power. Working from home can be a great option when team members are sick, traveling, or otherwise unable to come to the office for whatever reason. Meetings with your team and clients can be much more efficient in general when they happen over Zoom rather than at a physical location. Additionally, this technology allows firms to cast a much wider hiring net when looking for new team members.
Adopting New Technology
Change can be scary, but adopting new technology doesn’t have to be. There are so many emerging tech solutions that can help tackle everyday problems. Tools can also help cut down on the time you spend doing repetitive tasks and enhance your security and compliance. The most important thing is this: do your research. As we said, there are so many options on the market. However, finding the tools that work for you and your team is essential. Be on the lookout for demos and free trials so that you can take potential tools for a test drive before committing.
Have any tech goals for 2024? Let us know what they are down below!