It goes without saying that recent events have had a considerable impact on businesses over the last few months. Many of them have been forced to make temporary and/or permanent lay-offs, forcing them to work with reduced teams.

In a situation like this, technology is your greatest ally. Optimising accounting processes is becoming a priority: reducing data entry tasks and rethinking our systems and the integration between them. So it's time to say hello to automation!

The research and development of automated accounting tools using artificial intelligence is exponential. The trend is moving towards accounting data analysis and business strategy consulting rather than data entry itself.

So how can you automate certain accounting tasks and save your teams time? Here are a few tips.

Accounts Payable

In the digital age, paper supplier invoices are becoming a rarity and are being replaced by digital files. Did you know that there are character recognition tools that read these documents and extract the data? Magic! The data is then fed directly into your accounting systems!

On top of all that, you can link your email inbox to it, or use mobile applications to take photos of receipts to avoid delays and oversights. So all your documents are on the same web platform and can be consulted at any time, from anywhere.

When it comes to paying your suppliers, some applications connect to your accounting system and your bank simultaneously to generate and record payments to your suppliers. Rest assured, these systems use security standards and approvals that make the process secure and reliable.

Bank connection

The vast majority of financial institutions have formed alliances with certain suppliers of accounting systems in order to push information through them securely. What does this mean? You can access your bank balances and transactions directly from your accounting system. These often time-consuming transactions can be avoided!

For even greater efficiency, add artificial intelligence to your accounting management. Create automatic accounting rules to do away with time-consuming bank reconciliations.