If you’re a small-medium size business and like most, time poor, then it could prove worthy to review your current processes and pinpoint where automation can help overhaul your efficiency and productivity. It might not yet be known to you what automation features are available to you that are actually being used. Or whether you could be getting more value by building automated processes into your operational framework. Read on below for some important points to consider on this revolutionary new way of saving time for your business.
Use automation to remove manual workload to streamline your processes
There’s a very simple mantra when it comes to making the most of automation: if there’s a manual task in your business that’s taking up time, automate it now! The type of tasks we’re talking about are low-level administration, data-entry and form-filling. The more time you and your team spend on these menial tasks, the less time you have available for actually running he business. By ensuring your software tools are maximised, your automated processes can be ticking away doing the heavy lifting in the background, hence freeing up your time to focus on the important things like client service, sales and strategy.
In an effort to ‘slow down to speed up’ perhaps take a spell to consider, which elements of your everyday operations could you be automating? Is there an app or software solution that can help you to achieve your automation goals? If you’re unsure, the team of qualified and experienced bookkeepers and industry experts at Figure 8 Accounts are here to help. Outlined below are just some of the areas and useful resources outlining where automation and smart systems can help to add value for your business:
● Digitisation of paperwork and automated bookkeeping – With apps like HubDoc, these offer you the opportunity to automate your bookkeeping and record-keeping. Simply snap a photo of a receipt or invoice, digitise the contents and then automatically create an expense claim or bill in your accounting system, no keying in the details! And with the whole process synced with your choice of cloud accounting platform, job done!
● Automated employee expenses – DiviPay, Soldo and Pleo are great app choices that give you automated control over your employee expenses. Staff can pay for expenses and payments using either virtual or physical credit cards, which are then automatically synced with your main accounting platform. That result is- no late expenses claims, no need for petty cash and no wasted time keying in the receipts. With the whole process automated from start to finish, you can easily track, measure and pay all employee expenses.
● Automated payment collection – Automate your cash collection from customers with payment gateways such as PayPal, Stripe and GoCardless. By using a modern payment gateway, not only do you make it easier for clients to pay their bills but you also automate the actual cash collection and bank reconciliation process too. Money can be instantly paid to your main business account and all the transactional data pulled across to your accounting platform. As a result, there’s less admin, and faster payments to you.
● Automated POS, stock management and inventory – If you’re a small-medium size business running a retail or hospitality outlet, there is no doubt a lot of operational admin. Apps like Vend or Shopify POS give you an all-in-one point-of-sale (POS), stock and inventory management system, automating your till sales and syncing everything with your choice of accounting platform. With the inventory system automatically updating when an item is sold, this keeps your records and stock listings completely up to date.
● Automated social media posts and marketing – It’s one of the key pillars to acquiring new customers and helping to grow your business, yet such a time (and mind) consuming one – digital marketing can be automated with tools like Hubspot Marketing Automation or ActiveCampaign, whereby you can automate a large chunk of your marketing work. These solutions let you create automated email cadences, target specific customer audiences and track your return on investment (ROI) in specific detail.
Unsure what processes you could automate? Or what your business software can do for you? Speak to us! At Figure 8 Accounts, we understand the value of time. We’re specialists in bookkeeping and cloud accounting, with services such as Xero health checks, set-up and even training offered remotely via Zoom or within our head office located in Sydney’s South West Macarthur suburb of Gregory Hills. We also believe in harnessing the power of technology and can help you select and even implement the best tools to automate systems and ultimately improve your profitability. Contact us today for more information.