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Every business must grapple with its own particular pain points. The good news is that technology can help firms overcome common struggles by embracing the power of automation.
How to transform your practice with Workflow
19 June 2020
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3 minute read
Every business must grapple with its own particular pain points. For accounting practices, however, those issues can create expensive problems down the track and even hamper growth. The good news is that technology is helping firms overcome common struggles by embracing the power of automation.
Here, we investigate some of the biggest pain points for accountants and how Workflow is solving them.
Pain point #1: Answering to the firm’s ‘gatekeeper’
Data is an extremely valuable commodity, so it’s unsurprising that many practices want to protect it as much as they possibly can. But a common problem is that control over such vast amounts of information tends to complicate the data funnel, disrupting its flow and forcing users (i.e. accountants) to get approval from the ‘gatekeeper’ or ‘champion’ of the company’s data. This draws out tasks that are already time-intensive and increases costs for the practice – which may then be passed on to the client.
The solution is an automated software solution like APS Workflow, which allows accountants – even those with only a cursory knowledge of technology – to customise their own tasks and make edits according to their assigned permissions.
APS understands that progress can’t flow from the top down – only from the bottom up. That’s why Workflow caters directly to the accountants who need to access data and manage their jobs quickly, efficiently and without roadblocks from upper management.
Pain point #2: Making remote work possible
The prospect of remote working being a viable alternative to office-based work has come a long way in recent years, thanks in no small part to the variety of cloud-based collaboration and videoconferencing tools on the market.
But accounting practices are also recognising the value that remote working can bring to their firms. Talent shortages are a real problem for many practices – large and small – but remote working allows hiring managers to acquire quality talent beyond their local boundaries.
Beyond seeking out new talent, remote working is a terrific tool for staff retention, with 80% of Australians saying they would stay in their role longer if given the opportunity for telework. And with APS Workflow, your team can interact, collaborate and complete tasks in real-time no matter where they are based.
Pain point #3: Less time to meet increasing customer demands
In order to stay relevant in an automated future, accountants need to diversify their skill sets. Practices, too, need to widen their offering if they are to compete in an increasingly competitive marketplace.
Clients now recognise that they hold the upper hand thanks to an abundance of competition in financial services, which is why accountants find themselves managing more tasks for more clients with much shorter deadlines.
For team members to thrive in this incredibly demanding and fast-paced environment, they can no longer rely on traditional accounting processes. APS Workflow solves this issue by automating time-consuming, repetitive tasks and housing all critical data within a single digital platform.
This means accountants can have their caseloads lightened while being able to spend more time building relationships with current and potential clients.
APS Workflow eliminates inefficiencies for accountants
Not all workflow software is created equal, so you need to identify your inefficiencies in order to select the ideal automation tool for your practice. Here’s a quick rundown of what APS Workflow can do for accounting firms right around the country:
- Improve reporting processes and deliver greater visibility over tasks, responsibilities, timings, costs and more.
- Standardise and automate daily work processes, freeing up time typically spent on manual tasks.
- Give both employees and managers real-time access to actionable knowledge and work status.
- Educate staff on new processes and empower them to manage and prioritise their individual deliverables – with autonomy leading to more engaged employees.
- Improve efficiencies within the practice by scaling business operations to help your organisation become more flexible and therefore more competitive.
- Provide greater access to information and help your business produce better work at both the back-end and front-office. Critical activities include task and process automation, automated data capture and much more.
- Help your organisation embrace its digital transformation while simultaneously improving the customer experience and letting business leaders focus on expanding your practice’s service offering.
Learn more about how APS Workflow can boost your firm’s output and streamline everyday activities.
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