Accounting Automation
Accounting Automation
At Virtual Meticulous Bookkeeping & Accounting, we make your financial management easy and effortless. At our company, we use advanced technology to automate bookkeeping and accounting processes. In this article, we’ll explain the benefits of bookkeeping and accounting automation, and provide statistics to support these benefits.
Accuracy Automated bookkeeping and accounting tools ensure that all your financial data is accurately recorded. Manual bookkeeping is prone to errors, which can lead to costly mistakes. Automation ensures that your financial information is up-to-date, accurate and reliable. In fact, a study by Deloitte shows that 82% of organizations that use automation report improved accuracy in financial reporting.
Time-saving Automated bookkeeping saves you time that you can invest in growing your business. Instead of spending hours on manual bookkeeping, you can focus on your core business activities. Automation reduces the amount of time you spend on administrative tasks, allowing you to focus on revenue-generating activities. According to a survey conducted by Sage, 75% of small business owners reported that automation has saved them time.
Cost-saving Manual bookkeeping requires more staff and time investment, which means it costs more. Automation reduces the number of staff required for bookkeeping and accounting, thereby reducing overhead costs. You can use the money saved to invest in other business areas. According to a study by McKinsey & Company, companies that use automation can reduce operational costs by up to 60%.
Financial insights Automation provides real-time financial insights into your business performance. Automated bookkeeping software can generate financial reports that give you insights into your business performance. You can use these insights to make informed business decisions. In fact, a survey conducted by the Association of Chartered Certified Accountants found that 85% of respondents reported that automation has improved their ability to provide financial insights to their clients.
Security Automated bookkeeping and accounting tools are secure, protecting your financial information from unauthorized access. Manual bookkeeping, on the other hand, can lead to data breaches and loss of confidential financial information.
