Automation is slowly becoming an essential component in the human workforce today, although most humans see automation as something that takes away their jobs, it has proven to be a more efficient method with so many benefits that make life better for everyone. Accountants today seem hesitant when it comes to automation, this is because most accountants are still paid by the hour and automation will lead to them working fewer hours and getting paid less, all at a lager expense (because they sometimes have to pay the software providers).
The key to solving this dilemma is finding a balance, because accountants stand to gain more when they incorporate automation into task especially those tasks that are repetitive and time-consuming. That way they can free up their mind to provide professional analysis, wisdom, and guidance to their clients through important, high-stakes situations. Building integrated automated solutions is something an accountant and bookkeeper can benefit from. Here are a few tasks where automation can be integrated to make things a lot easier and more efficient.
If you work with clients who grow their employee base at a rapid rate then payroll automation is critical is something you want to integrate. Easy, consistent payroll can be a challenge for rapidly growing businesses and oftentimes you’re left to manage an exponentially increasing workload which can create a bottleneck and slow growth. By leveraging one of the many digital payroll services available, you can now save time and money by leaving your payroll on autopilot all your tasks will be handled digitally and if done right you won’t miss any important filings like 941 or a DE9.
Getting rid of paper receipts and using a digital expense tracking service can make it easier for companies to document their expenses effortlessly. These services usually link directly to most major accounting softwares, so all cataloging takes place seamlessly behind the scenes. If done properly, companies stand to gain tax benefits by integrating automated expense tracking, usually, accountants had to sift through piles of receipts to be able to track expenses but given how easy some expense tracking software is to use, there’s no need to spend time and money unnecessarily.
HR & Benefits:
If the business is under 100 full-time employees, there are tons of great digital HR and benefits services out there which you can use. Most services provide an all-in-one dashboard where you can manage your client’s benefits, offer letters, PTO, time/attendance, and more. When choosing these services it is however important that you choose a service that is compatible with your accounting software, so that it would be easier to track the exact amount spent on benefits and expenses because your accounting software has already automated all the footwork for you.
In conclusion, it is important to note that as accountants, the real value you bring to your clients is your expertise, experience, and guidance. The more tasks you can automate, the easier your work becomes because now you have more time to bring the highest level of services to your clients. Do not be intimidated by automation, instead embrace it because as software and technology advances, humanizing factors like trust, integrity, and wisdom become the most important factor when dealing with clients. Moreover, with the ever-growing set of software tools available today, automation is now easier than ever helping you free up time to provide meaningful professional guidance to your clients. Finding a way to balance human effort and technology is important aspect accountants need to master so that they can read enormous benefits for their clients and gives you more time to actually attend to your clients regarding more important matters.