Does accounting take up too much time from your business? - Smart Accounting brings revolutionary savings to your time
Many companies are frustrated with the time spent on accounting tasks. This does not have to be the case, says Sakari Jorma, Accountor's Chief Technology Officer. Financial management becomes effortless and fast when the ease, real-time, and usability accustomed in the consumers’ world is brought to the business world as such by means of intelligent technologies.
Only a while ago, the idea that we could handle our banking effortlessly with smartphones was a utopia. Today it is commonplace for us. At a glance, you can see your bank balance and your own investment profile on the screen. You can pay a new bill or sell shares with the touch of a finger. It is so easy to manage an individual's finances.
At the same time, on the corporate side, financial management and accounting issues still devour a big slice of an entrepreneur’s time. Why in the corporate world accounting could not be as streamlined, efficient, and effortless as in the consumer world? All the possibilities are already here, and this is a time of great turning point on the technological front.
Smart Accounting changes the use of time
Smart Accounting is the equivalent of an easy-to-use smartwatch in the corporate world that brings the user exactly the information they need in real time. In practice, the time saved with Smart Accounting is significant, freeing up time for the actual business – that is a great competitive advantage for any company.
In the new era of financial management, artificial intelligence, digitalisation, EDI, robotics, and automation will be widely integrated into processes. When all the information, functions and tools of financial management are digital and interconnected, accounting and financial management become unprecedentedly efficient. No more paperwork and no more paper receipts.
With Smart & Intelligent accounting technology, we want to meet the many needs of companies, from time recording systems and payroll to invoicing and financing.
An invaluable helper in the everyday life in a company
Intelligent functions enable digital auditing of all accounting data, electronic invoicing, and digital payroll. Real-time data and analytical capabilities help a company outline the true state of its economy and help manage cash flows correctly. An entrepreneur no longer has to use a banking program at all, but accounting programs do the needed things for online banking.
"Smart Accounting is the equivalent of an easy-to-use smartwatch in the business world that brings the user exactly the information they need in real time."
By logging in to your own accounting system on your mobile device, you can see and accept all invoices in one fell swoop. Knowing how much salaries will be paid each month helps you understand how much you need to bill customers each month. You know at any time how much VAT will be due next month or whether there will be enough cash for future investments. The system tells you when the invoices should be sold for financing in order to keep the cash flow on good path. Notifications and reminders allow for seamless planning of financing. Automation, in turn, ensures that no accounting errors occur.
Towards a real-time economy
We are constantly paving the way for systems to serve the users better all the time without the users having to work for technology. We are working to reduce work. With the right application of technology, anything is possible.
Perhaps in the near future, the financial statements will be drawn up automatically, as is the case for personal tax information. When information is included in a business transaction, invoices and receipts can be omitted altogether. In a digital automated world, salaries can be raised at any time. It is only a matter of time before we move comprehensively into the real-time economy. All of this requires a forward-looking attitude and bold decision-making. Technically, anything is already possible.
In the future, a Smart & Intelligent accounting system will be in the pocket of every entrepreneur and person responsible for financial management, automatically and real-time reminding their users of what, when and how to make the most sense of accounting right now – intelligently, smartly and on a day-to-day basis. At Accountor, the direction is already clear, and we are making every effort to accelerate this journey. We plan to revolutionize our solutions so that Smart Accounting is quickly available to all kinds of companies.
