Digital financial management saved the entrepreneur from burnout
Sari Yli-Villamo, entrepreneur of Lasi-Kolmio Oy, says that moving to digital financial administration saved her in many ways. “Nothing will ever make me switch back to paper-based financial management. I was on the verge of burnout with my files before I became Accountor’s (previously Tietokauha) client. Now everything works and I don't have to stress about things or spend nights at the office paying bills,” Yli-Villamo says. Previously, Lasi-Kolmio ran its accounts using dozens of files whereas today, two years of accounting entries can fit in two files.
Time is saved for the company’s core business
Lasi-Kolmio uses digital ledgers for accounts payable and receivable. “I could be in the Bahamas, for example, and do all the necessary tasks from there. Right now, I only need to deliver one envelope of cash receipts to Accountor each month. Even that could be handled digitally,” Yli-Villamo says.
Digitalisation saves time significantly. “In the past, I posted invoices myself, but this can also be done by the accounting firm. Why waste time on such things? I get to do what is useful for the company and invest my time on my core duties,” Yli-Villamo says. The digital purchase invoice system also makes it easier to search through purchase invoices and take stock of inventory, for example.
An entrepreneur's personal time cannot be measured in money
Compiling accounts on a monthly basis takes ages, and delivering piles of files to the accountant feels exhausting. “Evenings and nights spent working are always out of my personal wellbeing. Financial administration routines become much faster when everything is digital. Would you prefer to spend evenings with your children or grandchildren or compiling accounting records, for example?”, Yli-Villamo asks.
“Our personal time has value, even if the hours aren’t billed to the company. With the digital system, I can deliver countless invoices with a single press of a button, and other manual work such as printing and mailing are a thing of the past. If you place any price for yourself and your own work, digital financial management is no more expensive,” Yli-Villamo points out. With less time needed to spend collecting receipts and accounting, the entrepreneur also has more time to focus on sales.
Accountor supported in the transition, and the system was easy to learn
According to Yli-Villamo, the transition went particularly well. “We didn't really need to know anything about the new system. Financial management tasks can be done anywhere and anytime, even while out hiking in the woods. During the transition, we had to inform our customers and suppliers about the switch to electronic invoices but otherwise the transition went smoothly,” says Yli-Villamo. Accountor also provided support throughout the transition. In addition, the software always asks for confirmation that an invoice has been paid, preventing any accidents. And if a mistake happens by accident, the client can always ask Accountor for help.
In addition to purchase invoices, it’s also easier to create sales invoices. “For example, I can pre-complete an invoice and leave it pending until the goods have been handed over to the customer. When the goods are delivered, I can click the date on the invoice and immediately submit it for billing. If I know in advance what's delivered to the customer, I can pre-complete the invoice’s details. It’s also easy to edit an invoice before the shipment. Once a sales invoice is stored in the digital archive, it can always be sent again to the customer if it is lost,” Yli-Villamo notes.